News
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Category Legislative News Page 64
When Should Single People Move to Assisted Living? .To learn more and to participate in TSCL surveys and polls, visit . .Get signed up for Medicare now in order to have your coverage start the month you turn 65! … Continued
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How Much Of Your Social Security Is Taken By Medicare Costs
(Washington, DC) – Low inflation is striking another blow to the long - term Social Security income of millions of older and disabled Americans, according to a new analysis by The Senior Citizens League (TSCL). "For the third time in only 7 years, older Americans will not see any Cost of Living Adjustment (COLA) increase in their Social Security benefits," says TSCL Chairman, Ed Cates. "For tens of millions of people this has a devastating impact on the long-term adequacy of their benefits," he says. The Social Security Administration recently announced that more than 59 million beneficiaries would not receive an annual COLA next year, because inflation was lower this year than it was a year ago. .Economic Conditions Compounded Problem .Forty-eight percent (48%) have gone without essentials including food, disinfecting products, face masks, due to shortages, rationing or high prices. … Continued
Meanwhile, TSCL continues to work for passage of Notch Fairness Act, legislation that would provide ,000 payable in four annual installments, or an improved monthly benefit. The bill has been re-introduced in both the House and the Senate and has 22 co-sponsors. TSCL remains committed to Notch Reform and we continue to meet with Members of Congress to build support for this needed remedy. .Surveys by The Senior Citizens League find that older voters are strongly opposed to proposals that would cut benefits. For example, 73 percent support raising the amount of wages subject to Social Security payroll taxes by applying the full 12.4% payroll tax to wages above the taxable maximum —8,700 in 201Currently the highest earners — some 18 percent of all workers, pay no Social Security taxes on wages over the 8,700 maximum — that includes Members of Congress who receive an annual salary 4,000. Surveys have also found 90 percent strongly support allowing Medicare to negotiate drug costs. .Initial coverage stage: 4.61 from the lowest-cost drug plan but, as you have discovered, the total cost of the drug is so expensive that you rapidly use up the initial ,820 in the first three months once you factor in the portion that your drug plan pays. .Obviously we will continue to push for passage of those bills and keep you updated about their progress as things develop. .Medicaid Cuts Would Hit Notch Babies And Families Hardest .There will likely be court challenges to the President's actions, making it unclear how quickly any money would reach the unemployed. On top of that, it is unclear how many states will want to participate in this enhanced unemployment program or how many companies will want to suspend payroll taxes for employees only to have to pay them in 2021. .Extremely low cost-of-living adjustments (COLAs) not only affect Social Security benefits, the 0.3% COLA also affects the amount of Medicare Part B premium people will pay in 201When no, or a very low, COLA occurs, a provision of law known as "hold harmless" is triggered. Under the provision, when an individual's Social Security COLA is insufficient to cover the increase in the individual's Medicare Part B premium, the Part B premium is adjusted so that the Social Security benefit isn't reduced from one year to the next. .This week, the House of Representatives was scheduled to consider legislation which would repeal the health care reform law. However, due to the tragic shooting in Arizona over the weekend—which left six people dead, eleven wounded, and Congresswoman Gabrielle Giffords (AZ-8) clinging to life—the House schedule was cleared. .Because just one Senator can stall legislation through what is known as a filibuster, it takes 60 votes to pass any bill unless it is through a process called "reconciliation," which then requires only a simple majority of 51.
