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  • Best Ways Save June 2015

    Susan has rheumatoid arthritis and was taking Humira, a drug that would cost more than ,000 out-of-pocket if she had to purchase it through a Part D plan. Prior to starting Medicare, she paid a .00 per month co-pay for Humira through her husband's insurance. Before starting on Medicare though, Susan decided to try a less expensive older generic, Methotrexate, which costs just .00 per month through her Part D plan. .On behalf of The Senior Citizens League's (TSCL's) one million members nation-wide – 4,803 of whom are your constituents – I urge you and your colleagues in Congress to reject the elimination of the medical expense deduction. .Although the President did not offer specific policy recommendations, he did renew his commitment to lowering prescription drugs costs. He said: "One of my greatest priorities is to reduce the price of prescription drugs. In many other countries, these drugs cost far less than what we pay in the United States. That is why I have directed my Administration to make fixing the injustice of high drug prices one of our top priorities. Prices will come down." … Continued

  • Seniors May Get Cola Next Year But Medicare Premiums Will Take It All Feed

    To help protect the buying power of benefits, TSCL supports legislation that would provide a modest boost in benefits, base COLAs on the Consumer Price Index for the Elderly (CPI-E) and guarantee a COLA no lower than 3 percent. To learn more, visit . .Several lawmakers also expressed their concerns about rising prescription drug prices at Wednesday's hearing. When asked whether the administration would take action to assist seniors who fall into Medicare Part D's "doughnut hole," Congressman Price said: "It is imperative that we provide the greatest amount of opportunity for individual seniors to be able to gain access to the drugs that they need." Senator Bill Nelson (FL) expressed his dissatisfaction with that response, saying: "If I gave [seniors] that answer, I would get run out of the room." .How would seniors go about improving Social Security's financing in the future? A clear majority, 67% strongly agree that it would be fair to require workers to pay Social Security taxes on all of their income rather than letting some pay nothing on income over 0,000. More than 42% strongly agree that with Americans living longer, it would be fair to raise the age for full retirement very gradually, by two months per year to age 69 for people who are age 49 and younger. TSCL was inundated with email comments, and what you're saying should give incumbents pause. … Continued

Super Committee Running out of Time .This week, two new cosponsors signed on to the Strengthening Social Security Act (S. 567 and H.R. 3118), bringing the total up to three in the Senate and thirty-nine in the House. The new cosponsors are Sen. Sherrod Brown (OH) and Mark Pocan (WI-2). If signed into law, the bill would reform the Social Security program in three ways: it would adjust the benefit formula, resulting in more generous benefits; it would adopt the Consumer Price Index for Elderly Consumers (CPI-E), resulting in more accurate cost-of-living adjustments (COLAs), and it would lift the cap on income subject to the payroll tax. The Strengthening Social Security Act would extend the solvency of the Social Security Trust Fund responsibly, without cutting benefits for seniors. .Sixty-five percent of people surveyed by The Senior Citizens League support lifting the thresholds that subject Social Security benefits to taxation. The Senior Citizens League is seeking input from the public on this issue. To participate in a survey about Social Security and Medicare, visit . .If a COVID-19 vaccine yields a price of, say, 0 a course, vaccinating the entire population would bring a company over 0 billion, almost all of it profit. .During his campaign for President, and several times since, he has promised that he would protect Social Security and Medicare. Yet a payroll tax cut would result in untold damage to the stability of both programs and bring them dangerously close to insolvency. .The plan would reform the tax code by consolidating the six existing brackets into three, and by setting the corporate tax rate at an even 28 percent. It would also make some major modifications to Medicare, including a repeal of the Sustainable Growth Rate for physician payments, and a strengthening of the controversial Independent Payment Advisory Board. The proposal also includes a plan to restore Social Security to 75-year solvency by raising the retirement age, increasing the taxable maximum wage cap, and adopting a Chained Consumer Price Index, among other things. .Require new deductibles and cost-sharing while limiting what Medigap plans could cover. Because Medicare doesn't cover all of the costs, seniors purchase supplemental coverage, known as "Medigap," to cover deductibles, and co-insurance. A proposal from President Obama's Fiscal Commission would impose a new deductible of 0 and new cost-sharing. Then, it would restrict what Medigap plans could cover, adding up to ,000 in new out-of-pocket costs that the more comprehensive Medigap plans cover now. .Jessie Gibbons – TSCL's senior policy analyst – told Karen Damato of Money, "We're concerned that the abrupt change will cause a lot of confusion and frustration among older Americans, many of whom don't have reliable access to text-enabled cellphones." In addition, Mary Johnson – a policy consultant for The Senior Citizens League – told Mary Beth Franklin of InvestmentNews, "Based on what we know at the moment, the alternative to checking online is either calling SSA's 1-800-772-1213 line, or trekking out to a local Social Security office where you take a number and wait in line." She also said, "The Senior Citizens League feels that online security is vital, but feels alternate options should be offered." .Let's be clear about this, this is the responsibility of the Ways and Means Committee, and specifically this subcommittee.