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    With the impeachment drama out of the way Congress really got down to business this week. Health care is the number one issue on the minds of voters as we head toward the November elections and Congress knows it. .Regrettably, this uncertainty persists during the on-going deficit reduction discussions. Those who received services paid for by Medicare will not be affected by the automatic budget cuts due to the failure of the Joint Select Committee on Deficit Reduction to reach a compromise. Nevertheless, I am concerned that providers are not also shielded from those cuts. That is why I am co-sponsoring H.R. 3519, legislation to protect Medicare providers from the 2 percent cuts that were part of the Budget Control Act of 2011. .In addition, the Congressional Budget Office (CBO), a federal agency within the legislative branch, does its own forecast of the programs. The CBO produces independent analyses of budgetary and economic issues to support the Congressional budget process. Each year, the agency's economists and budget analysts produce dozens of reports and hundreds of cost estimates for proposed legislation. … Continued

  • June 2013 Virtual Strategy Magazine

    More than 10,000 people died waiting for a disability decision from the Social Security Administration in 201The rising death toll coincides with the growing backlog of people awaiting a decision about their eligibility for Social Security disability insurance benefits. But even after a disabled individual has been found eligible, he or she must wait 5 months for benefits to begin, and 2 whole years before Medicare benefits start. The long waits, especially for Medicare, have forced many low to middle-income disabled beneficiaries to deplete their savings while they wait. .In the coming weeks and months, TSCL looks forward to working with Congressman Duncan's office to build bipartisan support for the CPI for Seniors Act. For updates on the progress of the bill, click HERE for visit the Bill Tracking section of our website. .The Senior Citizens League was disappointed that the President did not comment on Social Security or Medicare during his State of the Union address, but we were pleased that he spoke about the need to reduce prescription drug prices. The President said he was proud to have helped improve "access to breakthrough cures and affordable generic drugs" by speeding up the FDA approvals process last year. That move could increase competition and bring down prices by encouraging generics to enter the market more quickly. … Continued

The information you do get can seem contradictory. The one piece of advice almost all retirement advisors do agree on is this — starting Social Security at 62 is a bad idea unless you are terminally ill with only a few more years to live. Your benefits will be permanently reduced up to 30% depending on your full retirement age, and if you are working, your benefits could be reduced due to earnings restriction rules. .Before the New Year even started, TSCL had been working to convince Members of our new Congress of the immediate need to replace 2021's meager 1.3% cost-of-living adjustment (COLA) with a 3% emergency inflation adjustment. We strongly support "The 3% Emergency COLA Act," introduced by Representatives Peter DeFazio (OR-4) and John Larson (CT-1) and efforts to include provisions of this bill in emergency stimulus funding legislation. .With that in mind we remind you that the Federal Trade Commission has warned that anybody offering a chance to jump ahead on the statewide priority list for a vaccination in exchange for money is a scammer. .Analysts say that deeper Medicare cuts may be back on the table by the end of the year. One of the most controversial proposals would convert Medicare into a system called "premium support." Under the proposal, the government would allocate a fixed amount of money for Medicare beneficiaries' premiums; and people would then purchase coverage from private health plans that would provide all their care. .And the American government has no effective way to fight back. .Proponents of the measure, which include some Democrats, say that addressing the projected shortfalls now would prevent draconian cuts or tax hikes later. The legislation would create congressional panels mandated to draft bipartisan legislation that restores solvency of the trust funds, and the bills would receive fast-track consideration in each chamber. .Here's an example of how it might work: Let's say your husband was entitled to a benefit of ,400 or ,450 per month. Since he was at his full retirement age there are no reductions. You learn that your full retirement age benefit at age 66 would be about ,195, and by age 70 it grows to about ,640. In this case taking a reduced widow's benefit now and letting your own benefit grow due to the delayed retirement credit may potentially work as long as your earnings don't completely offset your benefits. .Because the economic fluctuations were highly unusual and unforeseen, logic dictates that Congress could not have intended the benefits that Notch Babies actually received. The disparities in benefits under the actual conditions of double-digit inflation are illustrated in the following chart, which was not developed until 199Even if Congress had developed this chart in 1977, however, they would have seen benefit differences of only 10%-14% shown on the left-hand side of the chart. Instead, the effects of inflation are reflected by benefit differences of 13% to 30% shown on the right. In effect, the actual benefit reductions for many retirees were more than double what original projections would have been at the time. .The Chairman of the House Armed Services Committee, Adam Smith (D-Wash.) has announced that if the bill is vetoed the House will come back into session over the holidays and vote to override.