News

  • Rapid Growth In Number Of Seniors Who Pay Tax On Social Security Benefits

    Congress Still Can't Get Its Work Done .Should Congress approve the ,000 Lump-Sum Settlement, you would continue to receive your monthly Social Security benefit without any adjustment. However, as the legislation is written, you will have a choice of annual additional lump-sum payments OR an increased monthly check. .The Social Security 2100 Act — In the 115th Congress, Congressman John Larson's (CT-1) Social Security 2100 Act gained the support of more than 170 cosponsors, but unfortunately it was not brought to the House floor for a vote. In TSCL's December meeting with Congressman Larson's staff, he agreed to re-introduce the bill at the start of the 116th Congress, and to convene several hearings on the bill as the new Chairman of the House Ways and Means Social Security Subcommittee in the 116th TSCL is confident that the bill will be advanced by the House of Representatives by the end of this year. … Continued

  • Best Ways Save March 2015

    Up to 85 percent of Social Security benefits can be subject to taxation if an individual has a combined income of ,000 and married couples filing jointly have a combined income of ,000. Had income thresholds been adjusted for inflation, they would be about ,902 for individuals and ,515 for joint filers in 2020. "Combined income" is determined by adding one's adjusted gross income, plus any tax - free interest income, and one - half of Social Security benefits. .Source: Congressional Research Service May 24, 1999 .How have you been affected by COVID-19? Share your story with us at . … Continued

The budget resolution now heads to the House floor, where its future remains uncertain. Republican leaders in the House have been attempting to win the support of the 40-member conservative Freedom Caucus for weeks, but they have not yet been successful. They will need to rely upon a least a dozen of their votes for its passage. Budget Committee Chairman Tom Price (GA-6) told reporters this week that he is "working with members who are not on the Budget Committee" to build support for it, and that it will be taken up "when we have the votes." .On Tuesday, the Senate Finance Committee held a hearing to delve into the topic of rising healthcare costs. Echoing the hopes of his colleagues on the Senate Health, Education, Labor and Pensions (HELP) Committee, Finance Committee Chairman Orrin Hatch (UT) said in his opening statement, "I want to find a bipartisan path forward." .Rep. Gene Green (TX-29) recently introduced a bill that would remove the limit for the amount of outside income that an individual could earn while receiving Social Security benefits. The Social Security Earnings Test Repeal Act of 2011 was referred to the Committee on Ways and Means. .These trends are likely to continue a rapid climb in years to come. The first jump in the ESF coincided with the big increase in illegal immigration of 1970's. When Congress overhauled immigration laws in 1986, amnesty was offered to immigrants who could prove they were longtime, law-abiding residents. About 3.1 million were legalized, twice as many as the government expected. Because the law had no provisions for any new workers to enter, illegal immigration continued.(8) .Poor oral health makes serious medical conditions more difficult to treat. Researchers have found links between gum disease and other inflammatory conditions such as heart disease, stroke, diabetes, respiratory, and Alzheimer's disease. Improved oral care on the other hand, can reduce medical costs in patients with inflammatory diseases, according to research published in the American Journal of Preventive Medicine. To improve health outcomes for beneficiaries and reduce Medicare spending on diabetes and other inflammatory diseases, Medicare needs to cover routine dental care. More than 81% of participants in our 2019 Senior Survey agree. .In addition to congressional committee work in the 116th Congress, several new bills have been introduced that would reduce prescription drug costs. Several of them – including the following three – have already won bipartisan support in the new Congress. .Finally, two new cosponsors – Representative Jim Renacci (OH-16) and Representative Beto O'Rourke (TX-16) – signed on to the bipartisan CREATES Act (H.R. 2212), bringing the total up to twenty-one. If adopted, the CREATES Act would increase competition in the prescription drug industry by encouraging generic and biosimilar drug manufacturers to introduce their products to the market more quickly. .Medicare's Fall Open Enrollment Period started on October 15th and will run through December 7th. For the past 14 years, I have volunteered to help neighbors and friends learn about changes in their current Part D prescription drug or Medicare Advantage coverage during this period. We compare options, track down the lowest costing plans and pharmacies, and often switch to a lower-costing plan when there's a better deal. .Using Generic Drugs Could Save Billions of Dollars