News

  • Legislative Update October 2013

    Depending on your health, it might be to your advantage to start unemployment benefits and delay taking Social Security right away. Allow several months to search for a new job. The longer you can postpone starting Social Security, the higher your benefit will be. In addition, should you find a good job and start working again, your Social Security benefits could be reduced by excess earnings. If you are under your full retirement age you may earn ,480 in 2014 (,290 per month) before Social Security would withhold in benefits for every over that amount. .However, MA insurers have already begun taking steps to reduce their costs in order to account for the cuts from CMS. As was noted in last week's legislative update, UnitedHealth – one of the largest MA plan providers – has dropped thousands of doctors from its networks, leaving many seniors doctor-less. It expects its physician network to be 85 percent of its pre-Obamacare size by the end of this year. TSCL is concerned that additional cuts to MA in 2015 will harm beneficiaries in other ways, by driving up premiums and reducing benefits. .The Senior Citizens League regularly tracks and estimates the projected annual COLA increase with the release of monthly consumer price index data from the Bureau of Labor Statistics. "Inflation data through August are confirming that the COLA will be in the vicinity of 0.2%, forecast by the Social Security Trustees, and that would trigger the "hold harmless" provision," Gibbons says. … Continued

  • Issues Prescription Drug Policies Articles

    It was during this time that TREA Senior Citizens League (TSCL) was founded, and of its primary goals became the representation of those affected by the Notch in Congress. Recognizing that Congress created the Notch by reducing Social Security benefits in the past, and that baby-boomers nearing retirement would provide continuing pressure to reduce benefits in the near future, TSCL's primary mission is to protect "earned" Social Security and Medicare benefits. .At the time of writing this week's legislative update, the bill had not yet been approved on the House floor. However, its passage is expected by early next week. Despite bipartisan support in the House, its prospects in the Senate remain uncertain. Lawmakers in that chamber have not yet acted on their version of the bill (S. 141). .TSCL is hopeful that lawmakers will successfully repeal and replace the SGR before the looming deadline, since doing so would bring much-needed stability to the Medicare program. We will continue to monitor the negotiations in the coming weeks, and we will post updates here in the Legislative News section of our website. … Continued

Year after year, seniors are struggling with higher-priced groceries, copays, deductibles and prescription medications. To make matters worse, Republicans in Congress are passing bills that raise healthcare and housing costs for seniors. .Investigate national and community charitable programs and organizations. An excellent guide to Prescription Drug Assistance Programs is available from The American Cancer Society. Even if you don't have cancer, the information is pertinent to all drug assistance programs. For more information call 1-800-ACS-2345 or download the publication at http://www.cancer.org/Treatment/FindingandPayingforTreatment/ManagingInsuranceIssues/PrescriptionDrugAssistancePrograms/index .If all this sounds complicated — it is. But comparing these costs is well worth the effort. Depending on what you have now, Medicare may wind up saving you a considerable sum, and provide lower deductibles than what you get through your employer. This decision is important to get right, especially if you are married and your spouse is also getting health insurance through your employer's plan. If so, caution is advised because your decision affects your spouse's coverage. .While retirees won't be getting as much of an increase in their Social Security checks in 2020, the Part B premium, is expected to go up considerably more than it did this year. In 2019, most beneficiaries paid .50 per month more than in 201In 2020, however, the Medicare Trustees have forecast that Part B premiums will increase from 5.50 to 4.30 per month — .80 per month more—an increase of 6.5%. That's four times faster than the COLA. .Need more help? Free one-on-one counseling is available through State Health Insurance Programs (SHIP). To get contact info for your area visit http://shiptacenter.org. .Low-income seniors would receive assistance from Medicaid, and those with the greatest health expenses would receive additional help from the government. According to the plan's sponsors, The Congressional Health Care for Seniors Act would reduce the deficit by trillion over ten years, and it would save the average enrollee ,500 in out-of-pocket expenses each year. However, a recent poll conducted by the Kaiser Family Foundation shows that a majority of Americans – seventy percent – would prefer to keep Medicare as is, "with the government guaranteeing seniors health insurance and making sure that everyone gets the same defined set of benefits." .In addition, if any efforts to transition to private accounts based Social Security succeed TSCL fears that, among other things, a new Notch could be created in the transition. Also, TSCL members generally believe that such approaches could further drain the Social Security Trust Fund. Finally, it is thought that a private accounts venture would be at least partially financed by cutting the benefits of current or soon-to-be retirees. Because TSCL believes that Social Security was developed and implemented to be a safety net, insurance and pension system, it strongly opposes changes to the current system which entail private accounts. .To help older Americans withstand the financial impacts of the COVID-19 pandemic, and provide more adequate retirement benefits, The Senior Citizens League supports legislation that would provide a boost in Social Security benefits for all retirees, and would tie annual cost of living adjustments to a more representative seniors' consumer price index, the Consumer Price Index for the Elderly (CPI-E). To learn more about efforts to strengthen Social Security benefits, visit . .U.S. law requires that, in order to meet the requirements, ANP beneficiaries must "establish physical presence" in the United States to receive benefits. One of the easiest options is to "enter the U.S. for any part of 1 day before 30 days elapse."