News

  • Medicare Costs Are Rising Heres Where You Are Most At Risk

    We are still learning how effective the vaccines are against variants of the virus that causes COVID-1Early data show the vaccines may work against some variants but could be less effective against others. .The CARES Act will not impact payment of Social Security benefits because funding from the projected Social Security payroll taxes will be credited to the Trust Fund. Increased borrowing and increased debt costs may put added pressure on Social Security for changes to improve solvency in the near future, though. .August Congressional Recess Continues … Continued

  • Legislative Update Social Security Threatened By Tax Holiday Extension Feed

    Demographics dictate that Medicare spending will climb in the future as more people become eligible and enroll, and as aging increases the need for more healthcare services. Cutting the growth of Medicare spending without cutting access to affordable care for seniors will be a monumental challenge for Congress. TSCL believes a great deal more can be done to find savings by making the system more efficient and to clamp down on fraud, waste and abuse. .TSCL believes this is good news for the Social Security and Medicare systems, but there is no doubt that if the deferred taxes are never re-paid, it will cause major damage to both programs. .This week, the Social Security Fairness Act (H.R.1205, S.915) gained one new cosponsor in Congressman Steve Stivers (OH-15), bringing the new cosponsor total up to 16In the Senate, the bill gained six new cosponsors in Senator Bill Nelson (FL), Senator Sheldon Whitehouse (RI), Senator Elizabeth Warren (MA), Senator Mazie Hirono (HI), Senator Jack Reed (RI), and Senator Patrick Leahy (VT). If signed into law, the Social Security Fairness Act would repeal the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP) – two Social Security provisions that unfairly reduce the earned benefits of millions of public employees each year. … Continued

Rick is currently retired from the Central Georgia Multiple Listing Service, Inc., after serving 15 years as President and Chief Executive Officer. .Long-term solvency of the Social Security program is essential. In 2010, due largely to the economic downturn and a stagnant recovery, the Social Security Trustees estimated that the trust funds ran a cash deficit of billion and had to begin redeeming the U.S. government bonds held in the trust funds. Although the Social Security Trustees predict the trust funds will remain solvent, and that benefits can be paid in full until 2037, that assumes an unprecedented level of transfers from the general revenues. Leading economists, in the U.S. and worldwide, have said that the level of debt this would require risks undermining the stability of our economy. .Understand how sales commissions affect your payout. Sales commissions come out of your investment. The higher the commission the less monthly income for you. Make sure the amount of monthly income quoted is net of sales charges. .At any rate, what this means is the legislation that TSCL is fighting to pass which would safeguard and improve Social Security and Medicare still has the possibility of passing this year. Most of those bills will involve new spending, which means they will need to be included in new funding legislation. .Summer Congressional Recess Continues .TSCL plans to continue hosting town hall meetings in the future. If you are interested in helping us plan a meeting in your area, click HERE. .The sharp plunge was the result of changes that Congress made in 1977 to a. Could Your Benefits Be Notched? The Notch Fairness Act Introduced in the House and Senate ."We found consistently high U.S. brand-name prices regardless of our methodological decisions," said Mulcahy, a senior health policy researcher at RAND, a nonprofit, nonpartisan research organization. .TSCL agrees that improvements must be made to ensure that older Americans are better informed about their benefit claiming options, and we are hopeful that SSA will carefully consider the proposals made at Wednesday's hearing. In addition, TSCL hopes that Congress will appropriate adequate funding to SSA in the months ahead so that field offices around the country can provide the highest quality service possible to individuals nearing and in retirement. For progress updates, follow TSCL's advocacy efforts on Twitter.