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  • Majority Of Retirees Say Cola Should Be Top Priority For Congress 2

    Social Security is one of the only types of retirement income that provides a small increase annually to keep up with inflation. But in recent years, inflation as measured by the government's Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) has been almost non-existent, averaging just 1.2 percent per year since 2010, less than half the 3 percent inflation averaged the decade prior to 2010. .Today TSCL is calling on every Member of Congress to provide emergency COLA and Medicare relief for 2016, saying that Congress should: .2020 COLA Hold Harmless Issue Brief 9.2020 … Continued

  • Congressional Corner Two Social Security Provisions That Need To Be Fixed

    Britain, France, and Italy generally have the lowest prescription drug prices, while Canada, Germany and Japan tend to have higher prices, the data showed. .Your Member of Congress appears to be referring to "value-based healthcare." The idea is that by keeping people healthy we can reduce government spending on healthcare. .This week, the Obama administration released its much-anticipated 2013 budget proposal, and the House-Senate conference committee compromised on a deal to prevent payment cuts to Medicare physicians and extend the payroll tax holiday. In addition, four new cosponsors signed on to the Social Security Fairness Act. … Continued

According to Rep. Roskam, the bill would enhance data sharing between states and agencies so that they can more easily catch scammers, and it would modernize outdated fraud prevention systems. Upon introducing the bill, Rep. Carney said, "In this Congress, it's not easy to find areas where Democrats and Republicans agree, but fighting waste, fraud, and abuse while saving billions of taxpayer dollars just makes sense." .Seniors and the Covid Vaccine .This week House Speaker Nancy Pelosi (D- Calif.) introduced a more than trillion coronavirus aid package, a sweeping effort with trillion in aid for states and cities. It also includes billion for testing people for the novel coronavirus, direct payments of up to ,000 per U.S. household, billion in emergency grants for small business and billion for the U.S. Postal Service, among other things. .The implication that older Americans don't need their Social Security and Medicare benefits, and that seniors are demanding theirs at the expense of the young, is a nasty tactic that's not supported by the facts. According to the Social Security Administration, 50 percent of people age 65 and older have a total income of ,857 —hardly rolling in dough. Yet, those same seniors spend an average of 15 percent of their incomes on healthcare costs — a portion that is rapidly growing. .However, there might be other ways to augment finances, particularly through an additional tax exemption and the Child Tax Credit. The American Rescue Plan Act (ARPA) of 2021 expands the Child Tax Credit for tax year 2021 in the following ways: .Another major concern for those at the hearings was that the IPAB might inadvertently ration care. The law explicitly prohibits this, but many fear that without clarifying the definition of "rationing," there will likely be many discrepancies in the future. Rep. Phil Gingrey (GA) pointed out that what one calls rationing, another might simply consider reducing costs. .TSCL enthusiastically supports H.R. 4704, H.R. 4841, and H.R. 2212, and we will continue to advocate for their passage in the months ahead. For more information, visit the Bill Tracking section of our website. .Terry: The anchor takes on too much weight, swaying the decision in a particular direction. It can lead us to ignore or never even consider other options. In buying a used car, the sales price may be much higher than the car is worth. Yet we start there in haggling over what we'll pay, possibly paying only somewhat less than the price, and thinking we got a good deal when we did not. In the case of the charitable donation, we may feel guilty the more we consider giving less than the anchor ("suggested") amount. .As a result of the new rule, consumers will have to pay more for their prescriptions, as a growing number of people rely on the programs offered by drug makers to lower their copays.