News
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Legislative Update For Week Ending July 24 2015
Changes in U.S. immigration polices impact the finances of Social Security and Medicare. Policies that expand legal immigration would result in new payroll tax revenues from immigrant workers flowing into Social Security and Medicare, strengthening program finances. On the other hand, policies that provide new work authorization to immigrants who are already working in this country illegally would provide new access to Social Security and Medicare benefits that could be based, at least in part, on earnings worked under invalid or fraudulent Social Security numbers. .Are These Home Nurse Visits Legit? .There's hardly anyone who isn't feeling the effects of our "Great Recession." We've learned of seniors sharing depression-era survival techniques with younger family members. Meanwhile their Baby Boomer children nearing retirement wonder if they'll ever have enough money to retire. … Continued
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H R 3513 Prescription Drug Affordability Act
The new effort could be part of a second package later this year and TSCL will closely examine the legislation once it is finally developed to see if it accomplishes our goals and whether we can support it. .The Senior Citizens League enthusiastically supports the two bills mentioned above, and we were pleased to see support grow for them this week. For more information about these and other bills that have been backed by The Senior Citizens League, visit the Bill Tracking section of our website. .If you have recently moved and need to update your official mailing address, visit MySocialSecurityaccount, or call Social Security at 1-800-772-1213. … Continued
By 2012, in just five years, the first wave of those former illegal immigrants who came to the U.S. in the 1970's at age 20, and became legal permanent residents in 1986, will turn 62 and old enough to file claims for Social Security. As immigrants draw close to retirement age they are more likely to check their Social Security records and request reinstatement of any unauthorized earnings for which they have evidence. This comes during the same period that Baby Boomers start retiring, and assets of the Social Security Trust Fund begin to decline. .Passing a short-term funding bill to keep the government operating past September 30th is the last major hurdle lawmakers must tackle before the November elections. It remains to be seen whether or not they will successfully negotiate a CR before the quickly approaching deadline. In the days ahead, The Senior Citizens League (TSCL) will keep a close eye on the talks since failing to pass a CR would likely impact Social Security beneficiaries and Medicare doctors negatively. For updates, visit the Legislative News section of our website. .TSCL surveys confirm that costs for older Americans continued to climb despite no COLA this year. A recent TSCL survey found that 72 percent of respondents reported that their monthly household expenses rose by more than in 2015. .If signed into law, this bill would repeal the windfall elimination provision (WEP) and establish a new formula to calculate benefits for those with non-covered earnings. The WEP currently affects more than one million seniors who collect Social Security benefits and have earned pensions from non-Social Security-covered employment. .The Senior Citizens League is conducting an online survey of healthcare costs experienced by Medicare beneficiaries and invites seniors and the disabled with Medicare to participate at . The information will be used to educate both lawmakers in Congress and the public about the financial challenges of keeping Medicare affordable for beneficiaries while ensuring program financing remains sound for the future. To learn more about changes to Medicare, get tips on reducing your Medicare costs and to participate in TSCL's new online Medicare healthcare cost survey visit: . .TSCL believes this type of mathematical gimmickry shortchanges the measurement of real cost increases, thereby shortchanging the COLAs of almost 58 million beneficiaries. Yet this is just one of many such changes since 198TSCL believes that the strongest protection Social Security recipients have against such machinations of benefits is legislation that would guarantee that COLAs would be no less than 3%. This could be paid for by lifting the Social Security taxable maximum so that high-income earners making more than 8,500 pay their fair share of taxes. This not only is fair, but would ensure more adequate benefits for all retirees. .The Senior Citizens League is encouraging Congress to take the opportunity now to strengthen Social Security by beefing up the amount of earnings subject to payroll taxes, a tax provision that has widespread public support. The Senior Citizens League is delivering a letter to Congress this week calling for three tax reforms that would strengthen Social Security and provide relief to millions of older Americans. Those reforms include: .Congress Still Can't Get Its Work Done .Here's how the board works: As soon as Medicare spending exceeds certain growth rates, the unelected 15-member board will begin making recommendations to lawmakers to rein in spending. Congress will then have a chance to respond by passing cost-cutting measures of its own. But if they fail to adopt legislation, the IPAB's recommendations will be automatically implemented.
