News

  • Q A February 2009 Advisor Feed

    Millions of Seniors Are Losing Benefits .For example, those living in North Carolina's 3rd congressional district received emails introducing them to Congressman Walter Jones, sponsor of the Social Security Guarantee Act, and consistent supporter of important bills like the Notch Fairness Act and the Social Security Fairness Act. Those living in Oregon's 4th district received emails introducing Congressman Peter DeFazio, sponsor of three critical bills: the CPI-E Act, the Social Security Protection and Truth in Budgeting Act, and the No Loopholes in Social Security Taxes Act. These and other campaign efforts proved to be successful, as many critical lawmakers won their re-election bids and will continue to advocate for seniors in the next session of Congress. .Get unbiased counseling. NEVER, EVER drop your Medicare supplemental or switch Medicare Advantage plans based solely on the sales pitch of an insurance agent! This is especially true if the agent is trying to pitch you from a table set up in a discount store, or pharmacy window. DO NOT do business at all with anyone who calls on the phone or knocks on your door, regardless of who they say they are. There have been very widespread reports of con artists who tell seniors they are calling from Medicare or Social Security. You have no safe way of confirming who they are. Don't respond. Hang up and keep your doors locked! … Continued

  • Congressional Corner August 2015 2

    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. .for a Worker With Average Earnings, Retiring at Age 65 .Providing Medicare services is not simple, but it is critical that we continue to make efficient investments in the healthcare expenses of 48 million people and develop an adequate workforce to provide those services. I proudly voted for the Patient Protection and Affordable Care Act (PPACA), which expanded access for Medicare beneficiaries and increased investment in healthcare provider training. I also remain a staunch opponent of attempts to increase costs to beneficiaries and privatize this valuable program. … Continued

Seniors and Baby Boomers nearing retirement have every right to object and that doesn't make anybody greedy for doing so. After 1983, when the Social Security Trust Fund began building up reserves, our government proceeded to use all excess funds, and replaced that money with .6 trillion in special non-marketable bonds, or I.O.U.s. Seniors are frequently told those I.O.U.s are backed by the full faith of the U.S. government which has never defaulted on its debt. But now that the U.S. Treasury must borrow to pay the interest due to the I.O.U.s held by the Trust Fund, lawmakers are considering plans that would cut promised Social Security benefits. If a government default on the U.S. savings bonds held by public investors is unthinkable — why is cutting obligations to Social Security beneficiaries any less so? .It pays to compare your options, but you need to do this soon, before the Medicare Open Enrollment period ends December 7th. For help shopping for a new drug or health plan locate Medicare benefit counselors in your area. Visit the State Health Insurance Program website — https://www.shiptacenter.org. .Within two years of enactment, the Government Accountability Office would report to Congress and the task force on the financial exploitation of older Americans, including the associated economic costs, contributing factors, unreported cases, and policy responses. .The Neal bill was passed by the Ways and Means Committee on Wednesday of this week. It would ban surprise billing using an arbitration process favored by hospitals and specialty physician groups but opposed by insurers, employers and labor unions. Neal's legislation would send all the disputes that can't be settled between the parties to arbitration but require mediators to consider median contracted rates used by health plans, with the mediators prohibited from considering "usual and customary charges," also known as "billed charges." ."The Senior Citizens League Predicts Social Security COLA May Be Post-Election Deficit-Cutting Target" .The drugs that would be affected by any Trump action are among the costliest taken by Americans. They include innovative therapies for cancer, immune disease and other disorders. The industry says that Part B pharmaceutical spending makes up just 3% of overall Medicare costs. .In fact, according to TSCL's annual survey of senior costs, Social Security benefits have lost more than one-third of their buying power since 2000 because COLAs underpay recipients. TSCL supports using the CPI-E to determine COLAs that better take into account the spending patterns of older people. For well over a decade, TSCL has lobbied Congress to make the COLA more fair and accurate. TSCL is mobilizing seniors nationwide to contact Members of Congress. .Two Key Bills Gain Support .How many members does TSCL have?