News

  • Benefit Bulletin April 2018

    What To Do When You Can't Afford Your Drug Costs .New legislation, called the "National Senior Investor Initiative Act" or "Senior Security Act" (H.R. 1565), was introduced earlier this month with two Democrats and two Republicans as cosponsors. .Your husband would need to apply for Social Security disability benefits to learn if his medical condition meets the Social Security Administration's definition of disability. But before getting started, it's important to understand your choices, since your husband is also old enough to start Social Security retirement benefits. … Continued

  • Legislative Update Week Ending May 12 2017

    Sixty – seven percent of seniors participating in the survey said they already spend up to one-third of their Social Security benefits on Medicare costs. Another 21 percent said they spent up to one-half. "Because healthcare costs are rising more rapidly than Social Security benefits, spending on Medicare takes an increasing share of senior income as seniors age," says Cates. .In the final weeks of the 111th Congress, TSCL will continue working to prevent cuts to Social Security benefits that are already insufficient for too many of our nation's seniors. .What is the range of the Notch years? … Continued

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. .I'm 62 and trying to make some decisions about retirement. I'm confused and overwhelmed with information. Recently a friend told me about a retirement coach. I've never heard of this before. Is this a good idea or just another scheme to siphon money out of people nearing retirement? .TSCL also announced its support this week for the Medicare Prescription Drug Price Negotiation Act (S. 41, H.R. 242), which was introduced by Senator Amy Klobuchar (MN) in the Senate and by Representative Peter Welch (VT) in the House. Their bill, if signed into law, would require the Secretary of the Department of Health and Human Services (HHS) to negotiate prescription drug prices on behalf of nearly 40 million Medicare Part D beneficiaries. If HHS were able to negotiate similar prices as those paid by Medicaid and the Veterans Health Administration, the Medicare program would save billions of dollars annually, and beneficiaries would have better access to more affordable prescription drugs. .The good news is that there was progress last week in moving the needed legislation forward. The Senate passed its own version of H.R.1868, which would postpone the cuts for another nine months. .This week, one new cosponsor – Rep. Betty McCollum (MN-4) – signed on to the Social Security 2100 Act (H.R. 1391). The total is now up to sixty-two. If signed into law, H.R. 1391 would increase Social Security benefits by 2 percent, cut taxes for over 11 million seniors, increase the minimum benefit to 125 percent of the poverty line, and make cost-of-living adjustments more fair and accurate. It would also take measures to increase the solvency of the trust fund beyond the next seventy-five years, through the year 2100. .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." .Unlike the way Medicare negotiates costs for all other medical services and medical equipment, the program doesn't have the authority to negotiate drug prices. That leaves older U.S. consumers paying higher prices than people who get their medications through the VA Administration or state Medicaid programs. And because Medicare isn't negotiating on our behalf, there's no consistency in drug pricing between Part D drug plans either. Prices vary enormously, and new research for TSCL indicates millions of drug plan enrollees are getting gouged when they don't compare and switch to better plans. .The most widely-discussed proposals to revamp Social Security include raising the eligibility age, making the benefit formula less generous, and reducing the Social Security cost-of-living adjustments (COLAs). Reducing COLAs would impact the lifetime Social Security benefits of all current beneficiaries, as well as affecting future retirees. Under discussion is a proposal that would reduce COLAs by switching to a more slowly-growing, "chained" consumer price index to calculate the annual benefit boost. In fact the new tax law, recently did something similar. Indexing of income tax brackets, the standard deduction, and other parameters of the tax code for inflation was tied to a chained COLA. That means that people will pay higher taxes over time, as the standard deduction becomes less generous, while rising income would tend to push older taxpayers into higher brackets. .The Senior Citizens League is conducting an online survey of healthcare costs experienced by Medicare beneficiaries and invites seniors and the disabled with Medicare to participate at . The information will be used to educate both lawmakers in Congress and the public about the financial challenges of keeping Medicare affordable for beneficiaries while ensuring program financing remains sound for the future. To learn more about changes to Medicare, get tips on reducing your Medicare costs and to participate in TSCL's new online Medicare healthcare cost survey visit: .