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  • S 771 Improving Access Affordable Prescription Drugs Act

    Generally, retirement planners say that to maintain their current standard of living, retirees need to replace 70 percent of their pre-retirement earnings. However, with recent hits to personal savings and 401(k) balances, households are struggling with an erosion in the value of their retirement savings. Also, while workers may plan to retire at a certain age, their retirement decisions are often subject to circumstances outside of their control. A study conducted by McKinsey & Company found that roughly half of all workers who retired earlier than they planned cited health reasons or needing to care for a family member; the other half cited job loss. .Based on consumer price index (CPI) data through April of this year, Johnson estimates that the COLA for 2021 will be zero. That estimate could change, however, since there are still five months of consumer price index data to be collected before the Social Security Administration announces the COLA in October. .Five years after IPAB's creation, it still has no appointed members and, due to record-low growth in healthcare costs, it hasn't been triggered to make recommendations to Congress yet. Sylvia Mathews Burwell, Secretary of the Department of Health and Human Services, says she doesn't expect it to be triggered until 201But hundreds of lawmakers have serious concerns about the prospect of the board since it would be comprised of unelected and unaccountable appointees. They are hoping to pass legislation that would do away with it by the end of this year. … Continued

  • Benefit Bulletin August 2013

    What is it going to cost? Is there a less expensive alternative? .Up to 85 percent of Social Security benefits can be subject to taxation if an individual has a combined income of ,000 or more, and married couples filing jointly have a combined income of ,000 or more. Had income thresholds been adjusted for inflation, they would be ,176 for individuals, and ,145 for joint filers in for the 2020 tax year. "Combined income" is determined by adding one's adjusted gross income, plus any tax - free interest income, and one - half of Social Security benefits. .If you are interested in helping TSCL make the most of the 113th Congress, give us a call at 800-333-TSCL to help us start a local chapter or plan a town hall meeting in your area. … Continued

It would permanently set the Social Security Administration's administrative funding at 1.5 percent of overall benefit payments, more than doubling the funding that the administration currently receives. .The additional cost from adopting private accounts poses a much greater threat to the Social Security Trust Fund's solvency than it currently faces. Consequently, I have always adamantly opposed "private" accounts, or "individual" accounts, or "personal accounts" – regardless of what they're called. They're a big gamble and a risky deal for workers, retirees, and taxpayers alike. .Proponents of the measure, which include some Democrats, say that addressing the projected shortfalls now would prevent draconian cuts or tax hikes later. The legislation would create congressional panels mandated to draft bipartisan legislation that restores solvency of the trust funds, and the bills would receive fast-track consideration in each chamber. .We want to assure you that we will try to report the facts as we understand them and keep elective politics out of it. .Drug Companies start effort on New Drug Treatments .If you or someone you know is struggling to make their Social Security benefits stretch from one month to another, there are two Medicare programs that can help with medical costs for those eligible — Medicare Savings Programs which cover some Part B costs, and Medicare Extra Help which provides help with prescription costs. .Social Security is the largest single source of income for older Americans, providing the majority of income for half of retirees, and at least 90% of income for 18% of retirees, according to another think tank, the Center on Budget and Policy Priorities. .Meanwhile, some of the highest-priced drugs in the United States are brand-name drugs that can cost thousands of dollars per dose and are used to treat life-threatening illness such as hepatitis C or cancer, the researchers said. ."'We trace this mortality effect to cutbacks in life-saving medicines like statins and antihypertensives, for which clinical trials show large mortality benefits,' the researchers wrote.