News

  • Ask The Advisor August 2012

    In October, the Social Security Administration announced that benefits will increase by 2.8 percent in January 2019, but approximately 2 million seniors with the lowest Social Security benefits will not see any net increase in their monthly checks after Medicare Part B premiums are automatically deducted. It will be the fourth year in a row that this group will not see a boost in net benefits due to Part B premiums, which are rising several times faster than Social Security COLAs. .Medicare Reform – Protect beneficiaries from changes that would impose greater out-of-pocket costs on beneficiaries. .Now, the Associated Press has reported that one administration official has said the odds are 75-25 that the program will not happen at all. … Continued

  • March 2014 Insurancenewsnet Com

    Forty-five percent (45%) say their retirement savings dropped significantly in value and that they have cut back on spending. Another 13 percent (13%) say their retirement savings have dropped, but they are unable to cut back any further. .We are happy to see that the Trump administration is preparing an executive order that would require certain essential drugs and medical treatments for a variety of conditions be made in the U.S. The order comes in light of drug and device shortages during the pandemic. .TSCL Supports Bills to Prevent Premium Hike … Continued

On Thursday, lawmakers in the House began considering legislation (H.R. 1190) to repeal the IPAB, the unelected 15-member board that was created by the Affordable Care Act (ACA) to manage Medicare's growth. The House Ways and Means Committee advanced the bill with a vote of 31-8 two weeks ago, and earlier this week it was approved by the House Rules Committee. .I care deeply about guaranteeing that all Americans have access to food, regardless of their income. That is why I introduced this bill. .If adopted, H.R. 1553 would base annual Social Security cost-of-living adjustments (COLAs) on the Consumer Price Index for Elderly Consumers (CPI-E). .The changes closed two claiming tactics known as "file and suspend" and "restricted application for spousal benefits." The claiming strategies have made it possible for both members of a couple who are 66 or older to delay claiming Social Security based on their own earnings records, in order to increase payments, while at the same time one spouse receives a spousal benefit. Alicia Munnell of The Center for Retirement Research at Boston College estimates the changes would save .5 billion per year — a potential cost that would grow over time. .Source: "Senators Introduced Medicare Reform Plan: The Congressional Health Care for Seniors Act," Paul.Senate.Gov, March 15, 2012. .For more information about Social Security reform options, click here. To watch Wednesday's House Budget Committee Hearing in full, click here. .It would eliminate two waiting periods that approved DI recipients must endure. Under current law, approved DI beneficiaries must wait five months to begin receiving monthly benefits, and two years to begin receiving Medicare coverage. .How have you been affected by high Medicare Part B premium increases? To participate in a survey, visit The Senior Citizens League's website at . .The good news is that reducing drug costs appears to have bipartisan support. Two critical congressional committees – the Senate Finance Committee and the House Oversight and Reform Committee – have launched investigations into the pricing practices of the pharmaceutical industry.