News
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Update For April 17 2021
"Social Security benefits have flat - lined since 2010," says Mary Johnson, a Social Security policy analyst and author of TSCL's buying power study. "That was the first time since the annual COLA became automatic that inflation was too low for a COLA to be payable," Johnson notes. Since then, COLAs have averaged just 1.2 percent per year, less than half the 3 percent that COLAs averaged during the decade prior to 2010. . My husband who is diabetic and has high blood pressure, underwent surgery for colon cancer in March of 2020. He recovered and returned to work last summer. Shortly thereafter he had a stroke. He's been unable to work and received short. Q & 038; August 2020 My Ex-Spouse Died. Would I Qualify For Widow's Benefits Even Though I'm Re-married? .The TSCL legislative team continues to work diligently to promote the issues affecting our members. While much of this week's success was focused on current bills, our team also strives to stay on top of forth-coming legislation yet to be formally introduced. The work of our committed legislative team enables TSCL to keep capable eyes and ears on Congress' inner-workings to better represent the concerns of our valued members. … Continued
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New Chart From The Senior Citizens League Shows Top 10 Growing Costs For Older Consumers
TSCL recently solicited membership support for three issues critical to seniors' needs: Social Security Fairness (COLA), Notch Reform, and the Anti-Totalization Agreement. Collectively, these issues represent key legislation that TSCL believes will help protect the earned benefits for our supporters and formed the focus of our grassroots Congressional petition campaign. This campaign centered on educating and calling on all U.S. Representatives to support the: Consumer Price Index for Elderly Consumers Act, Guaranteed 3% COLA for Seniors Act, Social Security Guarantee Act, Notch Fairness Act, No Social Security for Illegal Immigrants Act, and Social Security for Americans Only Act. .You can apply for widow benefits as early as age 60, but if you start prior to your full retirement age, your benefits will be reduced. In addition, your benefits would be further reduced if you earn more than the annual earnings limit, which is ,640 in 2012 (,220 per month). More on this in a moment. .With it looking increasingly likely that Social Security beneficiaries will receive the highest COLA in seven years —about 3.3% in 2019 — proponents of "chaining" the COLA are likely to try to argue that the COLA under current law overpays recipients. Proponents of using the chained consumer price index to calculate the COLA claim that the chained consumer price index (CPI) is more "accurate" in calculating the COLA because it takes into account how people substitute other items when prices change. … Continued
The Social Security Administration recently called a halt to a controversial effort to collect debts that were more than 10 years old. For the past three years the government has confiscated tax refunds of hundreds of thousands of taxpayers, claiming an overpayment of Social Security benefits, even though it had little or no proof, and few exact details, according to media reports. In a letter to Treasury Secretary Jack Lew, Senator Charles E. Grassley (IA) said that government agencies were apparently "not properly notifying individuals or allowing them to inspect records of the debt they supposedly owe, which are violations of the law." .This week, lawmakers passed a temporary spending bill just hours before a government shutdown was set to occur. In addition, The Senior Citizens League (TSCL) announced its support for one new bill, and one piece of legislation gained critical new support. .To get information about Medicare supplement premiums, first select the plan offering the coverage you are interested in, "A" through "N". You can find a listing of these plans on page 82 of the 2017 Medicare & You handbook but not all states will have all plans. Once you have chosen the plan then you can simply compare premiums between insurers. The coverage for each type of plan is just the same, but premiums between various insurers can vary tremendously. .Now, another warning has been issued that some sanitizers made in both the U.S. and China contain benzene, a chemical known to cause blood cancers such as leukemias. .TSCL supports H.R. 4012 enthusiastically, and we were pleased to see two new cosponsors sign on to it this week. We will be advocating for the passage of H.R. 4012 and S. 2251 – Sen. Elizabeth Warren's (MA) companion bill – tirelessly in the coming months because we know that a 3.9 percent COLA would provide much-needed relief to our members and supporters next year. .First, one new cosponsor – Representative Ruben Gallego (AZ-7) – signed on to the Competitive DRUGS Act (H.R. 4117), bringing the total up to thirty-seven. If adopted, this bill would prohibit brand name pharmaceutical companies from paying generic drug companies to delay the introduction of their products to the market. Banning these anti-competitive "pay for delay" deals would lead to lower prescription drug prices for older Americans and other consumers. .House Committee Advances IPAB Repeal .However, there is and has been an alternative. A bipartisan Senate bill backed by Trump stopped short of giving Medicare bargaining power but would have limited annual price increases and capped costs for older people. The bill passed out of a Senate committee but was never brought to the full body, again because Majority Leader McConnell has refused to do so. .Insurers make major changes in their plans every year, like increasing premiums, co-pays, dropping coverage and even closing plans altogether. But according to a survey conducted by TSCL earlier this year, less than 18 percent of respondents said they switched their Part D or Medicare Advantage health plan for 201Medicare's annual Open Enrollment period starts earlier this year -- on October 15th -- and ends December 7th. Medicare beneficiaries should start the process now to find out what their choices are and how much they could save with a new Part D or Medicare Advantage plan.
