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  • Will Social Security Last As Long As You Do

    On Thursday, TSCL announced its support for the Elder Protection and Abuse Prevention Act (S. 1019 and H.R. 3090). Sen. Richard Blumenthal (CT) introduced the bill in the Senate, and Rep. Matt Cartwright (PA-17) introduced the companion in the House. If signed into law, the bill would expand the federal definition of elder abuse, neglect, and exploitation. It would also incorporate elder abuse prevention trainings, screenings, and reporting protocols into all senior service access points that receive federal funding under the bill. .While the benefit cuts were negotiated in secret and enacted swiftly with virtually no public debate, Congress passed up the opportunity to close another and far bigger Social Security loophole — one that allows people with the nation's highest wages (including all Members of Congress) to get an enormous tax break, while paying Social Security (FICA) taxes on just a fraction of what they earn. In fact, about 6% of all wage earners, according to the Social Security Administration, pay no Social Security taxes at all on earnings over 8,500. Once they have earned 8,500, these workers get to keep 6.2% of every dollar earned over that amount in wages. .Sources: The Prescription Drug Pricing Reduction Act of 2019, Description of the Chairman's Mark, Senate Committee on Finance, July 25, 201"GOP Senators Distance Themselves From Grassley and Trump's Efforts to Cut Drug Prices," Emmarie Huetteman, Kaiser Health News, July 25, 2019. … Continued

  • Best Ways Save October 2018

    Sources: National Health Expenditures 2011 Highlights, Department of Health and Human Services, January 8, 2013. .Offsets Complicate SGR Talks .Using the tool takes computer know-how, and interpreting the results can take some special training. You can get free unbiased help through your State Health Insurance Assistance Program (SHIP). Call your local Area Agency on Aging. Check the number in your local phone book and when you call, say you need help comparing drug plans. … Continued

Unlike other types of health insurance, Part D plans do not have a fixed annual out-of-pocket maximum, and you could potentially continue to spend even more than ,100 this year. While that's a huge sum for just prescription drugs, the out-of-pocket threshold "re-sets" and it starts all over again next year. Unless Congress takes action, the out-of-pocket threshold is scheduled to make a steep increase in 2020 to ,250, due to an expiring provision of the 2010 Affordable Care Act. .A California physician ordered 115 Schedule II drugs (the class at highest risk for addiction) for just one beneficiary in 200Medicare paid 5,711. .Few Employers Withholding Payroll Taxes .The savings compound over time and are huge. The Congressional Budget Office estimates that chaining the CPI would cut COLAs by 2 billion from 2012021 alone and, if used in other federal retirement programs and for indexing taxes, would reduce deficits by about 0 billion over the next decade. .This week, one new cosponsor – Rep. Zoe Lofgren (CA-19) – signed on to Rep. Grace Meng's (NY-6) Notch Fairness Act (H.R. 314), bringing the total up to twelve. If signed into law, H.R. 314 would provide modest compensation to victims of the Social Security Notch, or those who were born between 1917 and 1926. .With 1.2 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of The Retired Enlisted Association. Visit for more information. .In the meantime, many Members of Congress will be holding town hall meetings to address the questions and concerns of their constituents. TSCL encourages its members and supporters to attend these town halls and to ask questions of their elected officials about important Social Security and Medicare issues, like the following four… .Source: " 10 Charts About Public Opinion On Medicaid," Kaiser Family Foundation, June 27, 201"Medicare Savings Program Cuts Delayed By Two Months," Mackenzie Rigg, The CT Mirror, December 5, 201"General Assembly Reverses Cuts To Medicare Program," Keith Phaneuf, The CT Mirror, January 8, 2018. .Because the House of Representatives has 435 members its rules are much less complicated than the Senate's, which has 100 members. If the House had the same rules as the Senate, nothing would ever be accomplished.