News
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Legislative Update For Week Ending February 22 2019
Congressman Bill Pascrell (D- N.J.) was very blunt when he said that all the talk about fixing Social Security is just platitudes. While both sides of the aisle know it needs to be fixed and say they want to fix it, nothing is really being done. .The FDA advises consumers to be cautious of websites and stores selling products that claim to prevent, treat or cure COVID-1There are no FDA-approved products to prevent COVID-1Products marketed for veterinary use, or "for research use only," or otherwise not for human consumption, have not been evaluated for safety and should never be used by humans. .GAO found that many individuals do not fully understand that their benefits will continue to grow the longer they wait to collect them. In addition, GAO found that many field offices are not consistently providing the information individuals need to make informed decisions. As a result, many older Americans may begin collecting Social Security benefits earlier than necessary without knowing the financial consequences. … Continued
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Ssa Fails To Obtain Evidence Of Legal Status One Third Of The Time
Under current law, the Social Security COLA is determined by the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). This index surveys the spending patterns of younger working adults under the age of 62 and doesn't include the households of people who are retired. But older and disabled Social Security recipients allocate their budgets differently than younger working adults, spending a larger share of their income on medical and housing costs which, in many years, tend to rise faster than overall all inflation. .On Wednesday the Pentagon sent a "rightsizing plan" to Congress which, if fully agreed to by Congress, would result in approximately 200,000 military family members and retirees losing their ability to get health care at military hospitals and clinics. .Know what debt you have. Make a list of your mortgage, any home equity line of credit (HELOC), credit cards, and any other debt. Making minimum payments may keep you out of collections, but that strategy doesn't pay off debt. Prioritize your loans by the amount of interest, and whether the interest (such as for a mortgage) is tax deductible. Work out a plan to pay off the highest non-deductible interest loan first, while making the minimum payments on other loans. As you get a loan paid off, start on the next highest interest loan. … Continued
House Passes Funding Bill .Despite the coronavirus emergency, TSCL is continuing its fight for you to protect your Social Security, Medicare, and Medicaid benefits. We have had to make some adjustments in the way we carry on our work, but we have not, and will not stop our work on your behalf. .Your Initial Enrollment Period starts three months prior to turning age 65, includes the month you turn 65, and ends 3 months after you turn 6Advisor editor Mary Johnson, who has helped dozens of friends and neighbors with their Medicare, highly recommends starting the Medicare enrollment process 3 months before you turn 65, in order to have your new coverage become effective in the month you turn 6Enrolling in Medicare is done online through the Social Security website at www.SocialSecurity.gov. Look for the box that says, "Enroll in Medicare". Or you can get assistance to help you with this. .The age at which you should start Medicare Part B is still 6Failure to enroll on time can expose you to permanent delayed enrollment penalties, not only for Medicare Part B (doctors and outpatient services) but also for Part D (prescription drug coverage). These penalties which can add 10% - 12% per year respectively to your Part B and Part D premiums for every year you miss enrollment deadlines, for the rest of the time you have Medicare. .TSCL is mounting a campaign that strongly urges seniors nationwide to speak out against benefit cuts. "We hope you'll sign and return the petitions we are mailing to supporters against the 'Chained COLA'," says TSCL's Executive Director, Shannon Benton. "Chaining the COLA is a 2 billion cut that will reduce your benefits by as much as 9% over the course of a retirement," Benton notes. .The Senior Citizens League's surveys in 2020 asked about support for currently debated proposals to change Social Security and Medicare benefits. The five top areas of consensus include the following: .Finally, two new cosponsors – Congressman Bill Foster (IL-11) and Congresswoman Zoe Lofgren (CA-19) – signed on to the Nursing Home CARE Act (H.R. 4704), bringing the total up to twenty-four. The bill, if adopted, would protect Medicare and Medicaid beneficiaries by more quickly codifying emergency preparedness rules for nursing home facilities that receive funding from the federal government. .As a result, experts have been saying that even people who have been vaccinated should continue to wear masks and keep their distance from others. .The SEC chairman would appoint a director to lead the task force, which would include staff from several offices at the commission. Task force members would not receive additional compensation.