News

  • Congressional Corner July 2017

    The irony is that when Mitch McConnell (R-Ky.) because Senate Majority Leader in 2015 he said the Senate must return to "regular order," which means getting its work done in an orderly fashion and on time. .Things could get worse for older households. Some economists and policy makers worry that the new economic stimulus will cause consumer prices to spiral. Consumer price index data through February showed a big jump in some prices and suggests that the next Social Security COLA may in fact be much higher — the highest since 2019 when the COLA was 2.8%. "But right now, those higher prices erode the buying power of Social Security benefits," says Johnson who studies the impact that rising prices have on the purchasing power of Social Security recipients. According to research by Johnson, from January of 2000 to January of 2020, Social Security benefits have already lost 30 percent of buying power. .On Wednesday, the Senate Finance Committee held a confirmation hearing for Sylvia Mathews Burwell, President Obama's nominee for the position of HHS Secretary. Burwell was nominated back in April, shortly after Secretary Kathleen Sebelius announced that she would be stepping down. If confirmed, she will oversee the Medicare, Medicaid, and Social Security programs, and she will also manage the continued implementation of the Affordable Care Act. … Continued

  • Congress Out Of Session Sort Of

    The new Antimicrobial Action Fund will look to buy or invest in small antibiotic companies and their products and will work with the World Health Organization and the European Investment Bank to identify promising prospects. The fund is expected to start operations by the end of the year and hopes to bring to market at least two to four novel antibiotics by 2030. .The value of my 401(k) fell in March of this year and still hasn't fully recovered. I turned 70 in April. Will I be forced to sell investments at a loss in order to withdraw the required minimum amount? .The Social Security Administration is required to withhold in benefits for each you earned above the limit until the year in which you reach full retirement age. The year in which you reach full retirement age, you are allowed to earn more. The amount you may earn is adjusted annually. In 2007 when you retired, it was ,960 (,080 per month) for retirees like you who were under full retirement age. … Continued

Recently I read about a stimulus proposal that would allow people who are out of work to access ,000 of Social Security benefits in advance, in exchange for waiting a few months longer to get benefits when. Ask the Advisor: April/May 2020 I'm Entitled to a Pension for Work as a City Cop… .At Wednesday's hearing, several lawmakers asked Congressman Price about his plans to implement a new executive order from President Trump – signed following his inauguration on January 20th – that will dismantle parts of the Affordable Care Act (ACA). To these and other questions about the ACA's repeal, Congressman Price responded ambiguously by assuring lawmakers that he would "make certain that we have the highest-quality health care and that every single American has access to affordable coverage." .A 2.8 percent COLA would be the largest since 2012, but according to The Senior Citizens League's Social Security Policy Analyst Mary Johnson, "Retirees may be disappointed when they learn what the cost of their Medicare premiums and prescription drugs will be for 2019." .To learn more about your Medicare benefits download a copy of the "2011 Medicare & You" handbook by visiting www.medicare.gov or call 1-800-MEDICARE ( 7). .Noting the vast and unprecedented danger that the coronavirus presents to the elderly and people with disabilities, patient advocates described the lack of inspections as a shocking oversight. .House Committee Advances IPAB Repeal .U.S. law requires that, in order to meet the requirements, ANP beneficiaries must "establish physical presence" in the United States to receive benefits. One of the easiest options is to "enter the U.S. for any part of 1 day before 30 days elapse." .1977 Changes Fixed An Earlier Flaw In The Benefit Formula .TSCL is hopeful that President Trump will lend his support to the Medicare Prescription Drug Price Negotiation Act, since we believe it would go a long way in reducing the costs of lifesaving medications for beneficiaries. We will continue to advocate for it on Capitol Hill, and we hope to see it signed into law before the end of the 115th Congress. For more information, visit the Bill Tracking section of our website.