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  • 0 3 Cola Lowest Ever Paid

    Lawmakers compromised on the policy parameters of a long-term solution more than a year ago, but since then, they have been unable to come up with an offset to cover the cost of the 4 billion package. This week, Rep. Tom Price (GA-6), Chairman of the House Budget Committee, said, "We spend .6 trillion a year in this town – to come up with a pay-for ought to be relatively easy. There are things we have used before. There are areas in federal pensions … and rescission money that's available out there. We ought to be able to find some resources to pay for this patch." .What do you think? Seniors are invited to participate in TSCL's annual 2014 Senior Survey. For a free 8-page special issue of TSCL's Best Ways to Save, send to cover postage and handling with your name and address to The Senior Citizens League, 1001 N. Fairfax St. 101, Alexandria, VA 22314. .This week, lawmakers remained in their home states and districts for a week-long spring break. They are expected to return to Capitol Hill on Monday, March 2In the meantime, many Members of Congress will be hosting town hall meetings, which The Senior Citizens League (TSCL) encourages its supporters to attend. … Continued

  • Ask The Advisor March April 2020

    Fortunately, H.R. 3 is not the only legislation in either house of Congress that could lower drug prices and accomplish the other things necessary to fix Medicare and Social Security. .Medicare Extra Help helps pay for some, or most, of the out-of-pocket costs for Medicare prescription drug coverage. It is also known as the Part D "Low-Income" subsidy. Extra Help pays for the Part D premium up to a certain amount (specific to your state), lowers the cost of your prescription drugs, gives you special enrollment periods to switch plans, and eliminates the Part D late enrollment penalty if you did not enroll in Part D by your original deadline. If your income is under ,615 (individuals) or ,175 (married couples) and you have limited savings and resources, you might be eligible. Apply for Medicare Extra Help on the Social Security website www.SSA.gov. .And it will not feel like a bargain if we get free or cheap vaccines during a pandemic but pay dearly for annual COVID-19 shots thereafter. … Continued

Over one million Medicare recipients in my home state of Indiana would face reductions in choice and difficulty receiving care if provider incentives are cut. Instead of reducing access to healthcare, it is time to shift focus to the big picture of improving the economy through job creation so more people are able to contribute to their own healthcare. It is not time to chip away at benefits to the men and women who built this great country. Individuals who contributed to Medicare for decades rely on that investment for their well-being. .In addition, we will be urging lawmakers to adopt legislation that would result in more fair and accurate COLAs in the future. Several bills before Congress would accomplish this, including the CPI-E Act (H.R. 3351), the Guaranteed 3% COLA Act (H.R. 3588), the Social Security 2100 Act (S. 1904, H.R. 1391), and the Social Security Expansion Act (S. 731). TSCL believes each of these bills would go a long way in ensuring the retirement security seniors have earned and deserve. .Many observers believe the plan will likely include a combination of tax increases and benefit cuts for Social Security. Some of the most commonly mentioned proposals are: (1) switching to the chained Consumer Price Index (CPI) to calculate Social Security COLAs; (2) lifting or raising the cap on income which is subject to Social Security taxes; and (3) raising the Social Security retirement age. Switching to the chained CPI alone would both reduce initial benefits and cut lifetime Social Security benefits by more than 10%. .TSCL's Endorsement Sought for Social Security Bill .This week, the Obama administration released its much-anticipated 2013 budget proposal, and the House-Senate conference committee compromised on a deal to prevent payment cuts to Medicare physicians and extend the payroll tax holiday. In addition, four new cosponsors signed on to the Social Security Fairness Act. .Not only does this put unwitting retirees' Medicare number in the hands of crooks who can then resell it to be used to file more false claims, but it can cause Medicare to deny future coverage for genetic testing when it's really needed, because the patient's record will show the test has already been performed. .You will still need to follow guidance at your workplace. .In 2016 your Part B premium would be 1.80 per month if your family income is under 0,000. (If income is higher beneficiaries pay higher Medicare Part B and Part D premiums.) In addition you will need to decide whether to purchase a Medigap supplement and enroll in a Part D plan for drug coverage, or to enroll in a Medicare Advantage plan that includes Part D coverage. .In addition, the agreements allow workers who split their careers in two or more nations to combine or "totalize" work credits from both countries. That allows them to become eligible for retirement benefits proportional to the amount of credits earned in either country. Although the U.S. has 24 such totalization agreements, most are with countries like the U.K. and Canada that have economies similar to ours. At issue in totalization with Mexico is whether millions of immigrants who have worked in this country without legal work authorization, along with their family dependents, would become eligible for U.S. Social Security benefits under the agreement.