News

  • Legislative Update For The Week Ending October 21 2011

    This higher starting benefit will mean higher cost-of-living adjustments (COLAs) in terms of dollars, and higher benefits for spouses and survivors that are based on your benefit. Over the course of a 25 year retirement, the extra money adds up to more income from Social Security, often in the tens of thousands of dollars depending on the age you retire. .Elmendorf began his testimony by sharing some grim projections that have recently been developed by the CBO. He stated that the economy will likely grow by only 1.5 percent this year, and that next year, it's expected to increase by only 2.5 percent. He also announced that the unemployment rate will continue to hover around the 9 percent mark until the end of 2012. .Five Key Bills Gain Support … Continued

  • Social Security Medicare Questions March 2015

    Recently a group of Medicare patients and their families sued the Obama Administration, saying they were deprived of coverage because the policy allows hospitals to avoid admitting seniors with chronic ailments as inpatients. The plaintiffs charged that the observation services policy, which is intended to apply to short stays of no more than 24 to 48 hours, is instead being used to keep Medicare patients on outpatient status for longer stays, including some lasting up to a week. As a result, the seniors incurred medical charges as high as ,000 for skilled nursing care, drugs and other costs that Medicare Part B does not cover. Inpatient stays are covered under Medicare Part A, and all of ,156 deductible and most, if not all, of the co-insurance is covered by Medigap supplements. .Much of the debate over federal deficit reduction plans has been focused on overhauling Medicare and making changes to Social Security. But a major funding change is also under consideration for Medicaid, the federal and state program that covers medical care for lower-income individuals including seniors who also receive Medicare. As federal and state governments struggle to address Medicaid funding shortfalls, TSCL is concerned that Notch Babies, and the families who provide care for them, would be among those who would be hit the hardest by funding cuts. .Last month, the Health and Human Services' watchdog agency announced plans to review the pace of inspections in nursing homes and barriers to completing them — referring to such checks as a "fundamental safeguard to ensure that nursing home residents are safe and receive high-quality care." … Continued

TSCL believes that the extreme cost increases are putting Medicare beneficiaries and funding for Part D at risk. "Medicare must be given the authority to negotiate pharmaceutical prices with manufacturers for covered Part D drugs," says Cates. How are rising healthcare costs affecting you? TSCL wants to hear from you, visit . .(Washington, DC) – Providing a cost-of-living adjustment (COLA) in 2016 should be the next top priority for Congress, according to a new poll of retirees released today by The Senior Citizens League (TSCL). When asked, "Which of the following should be the most important priority for Congress in the next few months?" the majority of poll respondents — 34 percent — said that Congress should "Provide a higher and more fair COLA." In October the Social Security Administration announced that inflation is so low there would be no COLA next year. "But Social Security beneficiaries today are struggling to keep up with rising costs, and next year's zero COLA will put them even further behind," says TSCL Chairman, Ed Cates. .Once the costs that both you and your drug plan have paid exceed the above limit, then you will pay 25% co-insurance for brand drugs in 2019, and your drug plan will pay 5%. There's a manufacturer discount of 70%. For generics, you will pay 37% and plans pay 63%. This phase of coverage — which is called the "doughnut hole" or coverage gap —lasts until you have a spent a total of ,100 out-of-pocket on prescription costs. Please note that what you pay in premiums does not count toward out-of-pocket costs. Once you have spent ,100, which counts the manufacturer discount portion of the drug cost in the doughnut hole, then you reach the Part D catastrophic threshold. Medicare pays 80%, plans pay 15% and enrollees pay the greater of either 5% of total drug costs or .40/.50 for each generic/brand-name drug respectively. .There is no simple, direct mechanism for regulators or legislators to control pricing. Our laws, in fact, favor business: Medicare is not allowed to engage in price negotiations for medicines covered by its Part D drug plan. The Food and Drug Administration, which will have to approve the manufacturer's vaccine for use as "safe and effective," is not allowed to consider proposed cost. The panels that recommend approval of new drugs generally have no idea how they will be priced. .Surveys by The Senior Citizens League find that older voters are strongly opposed to proposals that would cut benefits. For example, 73 percent support raising the amount of wages subject to Social Security payroll taxes by applying the full 12.4% payroll tax to wages above the taxable maximum —8,700 in 201Currently the highest earners — some 18 percent of all workers, pay no Social Security taxes on wages over the 8,700 maximum — that includes Members of Congress who receive an annual salary 4,000. Surveys have also found 90 percent strongly support allowing Medicare to negotiate drug costs. .Personal testimonials are no substitute for scientific evidence. .Emergency 3% COLA, Social Security And Medicare Issues Land on the Congressional Priority List .Social Security survival strategies with COLA only at 0.2% ."Social Security was originally created to lift older Americans out of poverty," Johnson notes. "The annual COLA is intended to prevent erosion in the buying power of benefits," Johnson says. "Between the growth in healthcare costs and flat growth in benefits, the COLA is failing the very people it's intended to protect," she says.