News
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Legislative Update For The Week Ending April 8 2011
Tragically, there are people who shamelessly try to take advantage of emergencies like the coronavirus pandemic to cheat other people out of money. Thankfully, federal agencies are mounting a multi-front attack on scams and quack cures in the wake of the crisis, an unprecedented coordinated effort that could continue for years to come. .The Social Security COLA is calculated using the consumer price index. There are several of them, and the government uses the Consumer Price Index for Urban Wage Earners and Workers (CPI-W) to calculate the annual boost. That index, though, doesn't measure how people 62 and older spend their money. It measures how younger working adults do. Seniors, however, have different spending patterns, and have to spend a growing share of their budget on healthcare, which in most years outpaces overall inflation. .TSCL supports legislation that would provide a more fair and accurate COLA by basing it on a senior index like the Consumer Price Index for the Elderly (CPI-E). If seniors received a COLA based on the CPI-E, TSCL estimates that seniors with average benefits of ,200 per month in 2014 would receive ,753 more over a 30-year retirement. By their final year, their benefit would be ,652 per year more than if the CPI-W were used. … Continued
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Best Ways To Save February 2021
This week TSCL Board member and Legislative Liaison, Doug Osborne, was in Washington. D.C. Mr. Osborne began his visit by laying a wreath at the Tomb of the Unknown Soldier for Veteran's Day with TSCL's parent organization, TREThe Enlisted Association. Together with TSCL Executive Director Shannon Benton and TSCL Legislative Consultant Larry Madison he spent the next two days on the "Hill" speaking with Congressional staff members about legislation TSCL is lobbying to pass in Congress. The focus of our efforts was on Social Security issues, specifically the "Notch" issue and the "Windfall Elimination Provision," (WEP) both of which affect many TSCL supporters. .This week, four new cosponsors signed on to the Social Security Fairness Act (H.R. 1795), bringing the total up to one hundred and thirteen. The new cosponsors are: Reps. Michael Fitzpatrick (PA-8), Frank LoBiondo (NJ-2), Brett Guthrie (KY-2), and Katherine Clark (MA-5). If signed into law, the Social Security Fairness Act would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two federal provisions that unfairly reduce the earned Social Security benefits of millions of teachers, fire fighters, peace officers, and other state or local government employees each year. .A minimal source of supplemental benefits for seniors with extremely low benefits (Supplemental Security Income, or SSI). … Continued
This is certainly the case in Florida's 5th Congressional District, which I represent, where one in every four citizens has received SNAP benefits at some point over the past 12 months, a rate which is nearly twice the national average. It is estimated that only 42 percent of eligible seniors are enrolled in SNAP. SSI and the MSP have similarly low rates among seniors and individuals with disabilities. This is unacceptable. .Medicare and many state Medicaid programs are in the process of transitioning to value-based medicine that would change the way government healthcare programs pay for care. Doctors and healthcare providers are given incentives to improve health and to reduce the incidence of chronic disease — in order to lower spending on healthcare and provide better care at a lower cost. There's emphasis on giving providers single payments for a "bundle of services" instead of paying for each service, checkup or X-ray. This reimbursement system differs from traditional fee-for-service Medicare, as well as Medicare Advantage plans' "capitated" payments, in which providers are paid more for sick patients, regardless of health outcomes. .The bad news: there's still plenty of age discrimination in the workplace. When workers over age 50 lose their jobs, it takes them much longer to find new jobs. And the impact of a layoff is bigger for older workers. These folks face the reality that they may not work again full time, which can wreck a retirement plan. Studies show that household wealth typically takes a hit as high as 23 percent for single people and 19 percent for married couples. .The alternative to this approach is control by a board of unelected bureaucrats known as the Independent Payment Advisory Board (IPAB). This board will consist of 15 unelected, unaccountable bureaucrats empowered to make decisions about what kind of care people on Medicare can receive. I am greatly concerned that this board is being given way too much authority to determine what benefits are covered and how much physicians are paid. This commission's sole intention will be to determine whether Medicare is spending more than is budgeted and, if so, to offer "fixes" to cut back on Medicare spending that would then be fast-tracked with very little opportunity for Congressional input. President Obama's former Budget Director Peter Orszag called IPAB "the single biggest yielding of power to an independent entity since the creation of the federal reserve." I believe the best way to control costs in Medicare is to increase choice and competition, not cede control of health care decisions to a board of 15 unelected, unaccountable bureaucrats. .Social Security Cost-of-Living Adjustment – Ensuring for a fair, accurate, and guaranteed COLA. .Last year Americans were told that one of the ways to prevent being infected with Covid-19 is to wash hands frequently and for at least 20 seconds, and if that was not possible, use hand sanitizer. That resulted in a run on hand sanitizers and for awhile they were difficult to find. .If you delay starting benefits, past your full retirement age, your benefit will grow by 8% of the full retirement benefit amount per year until age 70, at which point your benefit would be about ,50To learn more about your Social Security benefits, and to get estimates visit the Social Security Administration's website at www.SSA.gov. .TSCL believes that the Supplemental Poverty Measure is a more fair and appropriate measure of poverty today. We encourage you to ask Congressional candidates where they stand on programs to reduce poverty affecting older Americans. .Grassley has previously said he needs at least 25 Republican co-sponsors to get his bill to the floor and sees backing from the White House as important in getting more votes. About a dozen Republicans other than Grassley have so far publicly expressed support for the legislation.
