News
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Ask The Advisor October 2013
In 1996 Congress passed legislation barring felony fugitives from receiving SSI benefits. A new computer program should end such payments while helping law enforcement officers to track down fugitives. Computers match law enforcement records against the data files of beneficiaries of SSI and other Social Security programs. When a match is found, SSI benefits can be terminated, and investigators can provide law enforcement officials with the fugitive`s most recent address where he or she has been receiving checks. .GOP Backs off "No New Taxes" Stance .This week, one new cosponsor – Rep. Steve Israel (NY-3) – signed on to the Consumer Price Index for Elderly Consumers (CPI-E) Act (H.R. 1030), bringing the cosponsor total up to twenty-four. If signed into law, H.R. 1030 would adopt the CPI-E for the purpose of calculating Social Security cost-of-living adjustments (COLAs). Currently, COLAs are based upon the way young, urban workers spend their money – a method that underestimates the spending inflation seniors experience. H.R. 1030 would address this issue, resulting in more fair and accurate COLAs for seniors. … Continued
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Obama Administration Releases Thousands Of Illegal Immigrants Feed
In 2016 there was no COLA at all, and in 2017 the COLA was just 0.3 percent. During that time a special provision of law known as "hold harmless" protected about 70 percent of Social Security recipients from reductions to their Social Security benefits due to increasing Medicare Part B premiums. .In a statement that was released on Thursday, Mary Johnson – Policy Analyst for The Senior Citizens League – said: "The bottom line is that Medicare Part B premiums rise several times faster than COLAs, and those premiums are now high enough to cause the net Social Security benefits of millions of people to remain flat for years at a time … This would make the fourth year in a row that this particular group has not seen a boost in their net Social Security benefits." .For some tips on how to reduce taxes on your Social Security Benefits, here's an article by Emily Brandon, author of Pensionless: The 10-Step Solution for a Stress-Free Retirement. Emily Brandon's Planning to Retire Blog can be found at: Money.USNews.com. … Continued
Lower spending on prescription drugs. Under our current Medicare system, experts warn that Americans are taking too many unnecessary drugs for dubious reasons. A value-based system would tie the price of prescription drugs to its value in the treatment of the patient. For example, patients with high blood pressure would receive their blood pressure medications for the lowest price or even no co-pay. Value-based systems could lead to reducing the number of unnecessary prescriptions and over-the-counter medications that patients take, while improving their health. .This legislation would require the Federal Trade Commission to update its website to include a searchable database of scams targeting seniors. It would have to work with media outlets and law enforcement to distribute the information. The FTC also would be required to send Congress a report with policy recommendations to prevent scams targeting older individuals, especially during national emergencies. .Over 3 million Notch Babies have joined TSCL's grassroots fight for Notch Reform, by adding their names to the TSCL Notch Reform Registry. The registry acts as a list of senior Americans who are on record as supporting Notch reform and want Members of Congress to pass "The Notch Fairness Act" (H.R.1001) introduced by Representative Mike McIntyre (NC-7) and (S. 118) introduced by Senator David Vitter (LA). .Your doctor or provider accepts "assignment" or the Medicare approved payment, as payment in full. There may be some doctors in your area that accept assignment, but fewer do that anymore. You will need to call your doctor to find out if he or she accepts assignment. Many are charging more than the Medicare-approved amount and you or your Medigap plan will need to cover the "excess" charges. Even if you do locate a doctor who accepts assignment, a growing number of doctors are not accepting new Medicare patients. To find a doctor who accepts assignment call the customer service number of your Medigap supplement. Then call the physician to find out if he or she is accepting new Medicare patients. .White House officials and public health leaders said they don't expect a vaccine to be widely available until March or April, which means wearing masks and other non-pharmaceutical measures will likely be the only option to reduce the spread of the virus until the end of February. .Expanded tax credits — Social Security numbers would pave the way for applicants to claim the Earned Income Tax Credit, and Additional Child Tax credit. In a recent Senate hearing, Eileen O'Connor, who ran the Justice Department's Tax Division under George W. Bush, explained that these refundable tax credits, "can create a ‘refund' of an amount you never paid as income taxes. So you can have a liability before the credit of 0, have paid in nothing, and with a refundable earned income tax credit of ,000, get a check from Uncle Sam for 0." She went on to say that immigrants who acquire Social Security numbers would be able to amend three years of previous tax returns to claim the earned income credit. The U.S. Government Accountability Office recently reported that an estimated 24% of all refunds due to the Earned Income Tax Credit are paid improperly. .This week, lawmakers passed a temporary spending bill just hours before a government shutdown was set to occur. In addition, The Senior Citizens League (TSCL) announced its support for one new bill, and one piece of legislation gained critical new support. .TSCL would like to thank Reps. Mike McIntyre (NC-7), G.K. Butterfield (NC-1), and Charles Gonzalez (TX-20) for taking the time to discuss the issues that are most important to our members and supporters. TSCL also met with Jeremy House, Legislative Assistant to Rep. Butterfield, Conrad Risher, Legislative Assistant to Rep. Gonzalez, Tommy Walker, Legislative Assistant to Rep. Diana DeGette (CO-1), Rebecca Shaw, Legislative Assistant to Rep. Chris Gibson (NY-20), and Nathaniel Ferguson, Legislative Assistant to Rep. Scott Rigell (VA-2). .Almost 53% of retirees say they don't have dental insurance, and more than 55% of that group say they have postponed dental procedures due to costs, according to TSCL's recent Senior Cost Survey. Despite limits on what dental insurance covers, it may provide some help, especially for routine preventive care, but finding the right coverage takes some shopping around, and you may need to wait for more than a year before coverage starts for more extensive services like crowns and bridge work.
