News

  • Best Ways To Save On Medicare Costs Feed

    The annual COLA increased Social Security benefits in January of 2021 by just 1.3 percent. While mild inflation in 2020 did improve the buying power of Social Security benefits by 2 percentage points through the month of January 2021 — from a loss in buying power of 30 percent to a loss of 28 percent — that improvement was completely wiped out by soaring inflation in February and March of this year," says Mary Johnson, a Social Security policy analyst for The Senior Citizens League (TSCL). Based on consumer price data through July 2021, the erosion in the buying power of Social Security benefits has deepened to 32 percent over the 2year period. .Are These Home Nurse Visits Legit? .The increased amounts are phased out for incomes over 0,000 for married couples filing jointly and qualifying widows or widowers, 2,500 for heads of household, and ,000 for all other taxpayers. … Continued

  • Legislative Update For Week Ending April 29 2016

    Locality pay adjustments are currently used to adjust the paychecks of federal workers. Federal employees receive a two-part pay adjustment that includes base pay (which is established by a specific formula set by law) and locality pay adjustments. The locality pay adjustment varies depending on where the employee works. The parameters aren't set by law but use metropolitan statistical areas to define locality pay areas. .The age at which you stop working. .By Jarrad Hensley, TSCL Legislative Assistant … Continued

TSCL looks forward to working with these veteran lawmakers, along with new Representatives and Senators, on the following issues in the 114th Congress: .New coronavirus legislation in the works .Since enactment 84 years ago, Social Security has been the most reliable source of retirement income that most retirees have. That said, our current Social Security program has a funding imbalance that's creeping forward. In 2018 the Congressional Budget Office reported that Social Security's total benefit costs exceeded its total income, including (for the first time) the "interest" income on the special obligations bonds, or I.O.U.s that are held by the trust fund. According to the Social Security Trustees, from here forward, Social Security benefits will be financed with a combination of payroll taxes, revenues from the taxation of Social Security income, "interest" income from the special obligation bonds, and net redemptions of those bonds, until the reserves held from the Trust Funds are depleted. .TSCL believes the regulations could be costly to seniors and to Medicare. Alternative therapy and medical approaches are used by millions of Americans. The Centers for Disease Control and Prevention estimated, that the U.S. public spent between billion to billion on CAM therapies in 1997, an amount that was more than the U.S. public paid out-of-pocket for all hospitalizations in that year, and an amount that was approximately one-half of that paid by the U.S. public for all out-of-pocket physicians' services. .The way to learn about your drug plan choices is to use the Medicare Drug Plan Finder at www.medicare.gov. You will need a complete up-to-date list of your current prescriptions. Correct spelling is essential. Using a computer, either you or a Medicare benefits counselor will input your information and prescription information. The Drug Plan Finder will pull up a list of all the plans in your area and the estimated costs for each based on the prescription you currently use. .While a drop in inflation should mean that people don't have to spend as much money due to higher prices, that hasn't been the case for older households, according to a survey by TSCL. The majority of survey participants, 72 percent, reported that their household budgets had gone up per month during 2015 even though the CPI-W in 2015 indicated that no COLA (for 2016) was payable. .In a letter of support to Rep. Kevin Brady (TX-8) – the sponsor of H.R. 711 – TSCL's Chairman Ed Cates wrote: "According to a recent study completed by TSCL, Social Security beneficiaries have lost over 20 percent of their purchasing power since 2000. Those who are subject to the WEP have undoubtedly fallen even further behind. It is now more important than ever for Congress to address the inequities that have been created by the WEP, and TSCL believes the Equal Treatment of Public Servants Act is a fair and responsible solution." .TSCL enthusiastically supports H.R. 1030, H.R. 3118, and H.R. 1795, and we were pleased to see support grow for them this week. .Sources: "Crackdown Proposed To Prevent Illegal Immigrants From Obtaining Medicare," Robert Pear, The New York Times, March 3, 201"Medicare Improperly Paid Providers Millions Of Dollars For Unlawfully Present Beneficiaries," Daniel R. Levinson, Department of Health and Human Services Office of Inspector General January 2013.