News

  • Gridlock Fixing Social Security Disability Mean Benefit Cuts

    Obamacare is not the first government program in which major implementation glitches had disastrous consequences for large numbers of beneficiaries. In 1977 changes that Congress made to the Social Security benefit formula created a major inequity in benefits that cost retirees tens of thousands of dollars in Social. Seventeen Co-sponsors for The Notch Fairness Act While Congress has been holding hearings and considering changes to Social Security, TSCL has been successful in gaining co-sponsors for The Notch Fairness Act. The bill, introduced in the House and Senate by Representative Mike McIntyre (NC-17) and Senator David Vitter (LA), would provide Notch Babies born from 1917 through 1926 their choice of ,000 paid. Risk of Deeper Benefit Cuts When Congress Waits The Notch Fairness Act In House And Senate .In order to correct the wrong done to those born during the Notch years, TSCL believes that some compensation should be provided. The Notch Fairness Act would provide victims of the Social Security Notch with a modest settlement payment or an increased monthly benefit calculation. .There is already reason to worry that our deliverance from the coronavirus will cost us plenty. BARDA paid AstraZeneca up to .2 billion toward development, production, and delivery of its candidate vaccine, in order to secure 300 million doses in October. Britain paid the equivalent of million to secure 100 million doses in September — one-fifth of what the United States government agreed to pay per dose. … Continued

  • Congressional Corner July 2017

    Legislation was introduced in the last Congress to remedy the new benefit reductions affecting people born in 1960— "The Social Security COVID Correction and Equity Act," introduced by Representative John Larson (CT-1), and the "Protecting Benefits for Retirees Act," introduced by Senators Tim Kaine (VA) and Bill Cassidy (LA). The Senior Citizens League strongly endorses legislation that would fix not only this notch but also provide permanent protection from this sort of recessionary reduction for past and future retirees as well. .On Tuesday, new and veteran lawmakers in the House and Senate met on Capitol Hill for the swearing in of the 115th Congress. As expected, Congressman Paul Ryan (WI-1) was re-elected to the Speaker position with 239 votes in the House, and Congresswoman Nancy Pelosi (CA-12) was re-elected to the House Minority Leader position with 189 votes. .Both chambers of Congress adjourned for the President's Day Holiday this week and are expected to return to Capitol Hill on Monday, February 25th. Meanwhile, Alan Simpson and Erskine Bowles, former co-chairs of the National Commission on Fiscal Responsibility and Reform, released a new proposal that would avert the looming sequester and trim .4 trillion from the deficit. In addition, two Members of Congress re-introduced a critical bill that would extend the solvency of the Social Security Trust Fund without cutting benefits. … Continued

The lack of growth in Social Security benefits is eroding the buying power of more than 60 million people who depend on Social Security. There was no annual boost again this year. But according to a recent TSCL survey of more than 1,100 people age 62 and over, retiree household expenses continued to climb. Some 72 percent of survey respondents reported their monthly expenses grew by more than in 2015. .Regarding Medicare, the budget blueprint calls for increased means testing for Parts B and D, and it would increase out-of-pocket spending for new beneficiaries by charging them co-payments for home health services, and by adding a surcharge to certain Medigap plans. TSCL fears that these added costs for beneficiaries could result in some unforeseen consequences. .While employment plunged at the height of the recession in 2009, new data from the Social Security Administration (SSA) suggests that millions of illegal immigrant workers hung onto their jobs. Employers sent in 7.7 million wage reports of workers whose names and Social Security numbers (SSN) don't match those on the SSA's files for 200The "mismatched" wage reports are frequently caused when the SSA receives copies of W2s for illegals who work under stolen, false or invalid SSNs. Although employment among illegal workers appears to have declined in 2009, the number of such "mismatched" wage reports that the SSA received from 2000 - 2009 averaged 9.5 million per year. .While a drop in inflation should mean that people don't have to spend as much money due to higher prices, that hasn't been the case for older households, according to a survey by TSCL. The majority of survey participants, 72 percent, reported that their household budgets had gone up per month during 2015 even though the CPI-W in 2015 indicated that no COLA (for 2016) was payable. .As we reported then, the study by the National Board of Economic Research, (NBER) explored how "cost-sharing", in other words co-pays and premiums, can affect patient choices and patient health. The researchers examined Medicare data and found that a relatively modest increase in drug costs ( per prescription) lead to a 33% increase in mortality. .Social Security arose again at the hearing when Committee Member James Clyburn (SC) commented on the payroll tax cap, which is currently set at 6,800. He suggested that the cap be raised to cover 90 percent of income – as it did in the early 1980s – in an effort to restore the program to solvency. Some Members scowled disapprovingly at this proposal and it is still unclear whether the Committee will even touch Social Security, but if they do, this option could appear on the short-list. Clyburn asked Barthold to research the potential effects of raising the wage cap and to report back to the Joint Committee. .Obamacare is not the first government program in which major implementation glitches had disastrous consequences for large numbers of beneficiaries. In 1977 changes that Congress made to the Social Security benefit formula created a major inequity in benefits that cost retirees tens of thousands of dollars in Social. Seventeen Co-sponsors for The Notch Fairness Act While Congress has been holding hearings and considering changes to Social Security, TSCL has been successful in gaining co-sponsors for The Notch Fairness Act. The bill, introduced in the House and Senate by Representative Mike McIntyre (NC-17) and Senator David Vitter (LA), would provide Notch Babies born from 1917 through 1926 their choice of ,000 paid. Risk of Deeper Benefit Cuts When Congress Waits The Notch Fairness Act In House And Senate .7 million immigrants have a Social Security number issued in their names — obtained either by using a fraudulent birth certificate, or overstaying a visa that has expired. The actuary said this group can "work, pay taxes, and have earnings credited to their record for potential benefits in the future." .This week, the Senate returned from break and President Barack Obama delivered the State of the Union address. New co-sponsors were also added to a pair of Social Security bills, and negotiations continue on how to fund the "doc fix."