News

  • Category Tscl In The News Page 7

    Medicare Doesn't Recover The Majority Of Overpayment Payment Amounts, .This week, TSCL endorsed new legislation from Congressman John Duncan, Jr. (TN-2) that would result in a more fair and adequate Social Security COLA. The bipartisan bill, called the Consumer Price Index (CPI) For Seniors Act (H.R. 2016), would require the Bureau of Labor Statistics to create and publish a new inflation index based solely on the spending patterns of senior citizens. .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. … Continued

  • Legislative Update For Week Ending June 13 2014

    Low-income beneficiaries who receive Medicaid in addition to Medicare. State Medicaid programs pay the Part B premiums for people who qualify due to low income and resources. According to the Kaiser Family Foundation, there are approximately 10 million dually-eligible beneficiaries representing about two-thirds of those who are not protected by hold harmless. ."We should not allow health insurers to limit how much cost-sharing assistance can help patients at the pharmacy counter," the spokesperson said. .But not all beneficiaries will come out ahead. Some treatments have little or no competition, and patients needing those drugs might not see any extra savings. And for people who don't take pricey drugs, monthly Part D costs are likely to rise because premiums are expected to go up when insurers won't be able to keep rebates to improve bottom lines. … Continued

The most important thing people nearing retirement should consider doing is to delay starting benefits until age 70, the report says. After reaching full retirement age, benefits will grow 8 percent per year after for each year delayed, until age 70. "The higher your benefit and COLA, the easier it will be to cover Medicare Part B and other healthcare costs in retirement," Johnson says. .For many, the COLA increase won't be high enough. Those people will once again be held harmless another year. Their Medicare premium increase will be adjusted so that their Social Security benefits won't be reduced, but it may be another year, or even longer, before they see any increase in their net Social Security benefit. .TSCL continues to support re-importation of drugs more than general importation of drugs made in other countries. And, while we also support imported medicines made in other countries, we strongly insist that the drugs be certified to be sure they are pure and contain only the ingredients they are supposed to have. .Trump Expected to Issue Executive Orders about Prescription Drugs .TSCL believes COLAs need to be more fairly and accurately calculated, and strongly supports recently introduced legislation that would provide an emergency COLA. To learn more, visit . .To make the COLA more fair and accurate, TSCL believes that Congress must fully implement the CPI-E, and use it to provide a more realistic annual benefit boost. We support a number of bills before Congress that would do just that, including the CPI-E Act (H.R. 1030), the Guaranteed 3% COLA Act (H.R. 1585), the CPI for Seniors Act (H.R. 2154), and the Social Security Guarantee Act (H.R. 1275). Each of them would go a long way in ensuring that seniors receive the retirement security they deserve. .Many seniors can save substantially on drug costs by using mail order, and it's worth looking into. Be sure to use your drug plan's "preferred provider" mail order service. If you go outside of your drug plan's mail order network, your plan may not cover your drugs. .The new cosponsors of the Social Security Fairness Act are as follows: Congressman Patrick Meehan (PA-7), Congressman Luke Messer (IN-6), Congresswoman Eleanor Holmes Norton (DC), Congressman Danny Davis (IL-7), Congressman Ben Ray Lujan (NM-3), Congressman Dan Kildee (MI-5), Congresswoman Brenda Lawrence (MI-14), Congressman Juan Vargas (CA-51), Congressman Lee Zeldin (NY-1), and Congressman Tim O'Halleran (AZ-1). .Lowering drug prices is one of the highest priorities of TSCL and we will be working very hard to get legislation passed this year.