News

  • Notch Bulletin March 2011

    At the time of writing this week's legislative update, the bill had not yet been approved on the House floor. However, its passage is expected by early next week. Despite bipartisan support in the House, its prospects in the Senate remain uncertain. Lawmakers in that chamber have not yet acted on their version of the bill (S. 141). .This week, lawmakers in the Senate continued working on plans to reform the healthcare system. In addition, The Senior Citizens League saw five key bills gain new cosponsors in the House. .A new study by the Journal of the American Medical Association says that the Medicare Part D program could have saved roughly .7 billion in 2017 if doctors and patients had actively opted for generic drugs instead of brand name drugs. … Continued

  • Social Security Medicare Questions December 2014

    Many expected immigration reform to be a focal point of the President's speech, however, his remarks on the topic were vague and very brief. In one short paragraph, he said, "Republicans and Democrats in the Senate have acted. I know that members of both parties in the House want to do the same … So let's get immigration reform done this year." TSCL has some serious concerns about comprehensive immigration reform, since it would further strain the Social Security and Medicare Trust Funds. We strongly feel that any efforts to reform the system should include loophole-closing legislation that would prevent immigrants from receiving benefits based on a history of illegal work. .Budgeting for changes in health as we age is a challenge. What we can do, though, is give you some pointers in estimating your current costs and setting a healthcare cost budget. .On Wednesday, lawmakers on the House Budget Committee held a hearing titled: "Keeping Our Promise to America's Seniors: Retirement Security in the 21st Century." Committee members heard from several expert Social Security witnesses, including Congressman John Larson (CT-1) – Chairman of the House Ways and Means Social Security Subcommittee. … Continued

That represents a huge liability to the Social Security Trust Fund, should there be an amnesty. Every year the SSA processes millions of W2s. When a name or SSN on a W2 doesn't match the SSA's records, the wage report goes into an "Earnings Suspense File" (ESF) until the discrepancy can be reconciled. The ESF file today contains more than 312.7 million wage items representing 5 trillion in wages. Wages are what the Social Security Administration uses to determine entitlement to Social Security, rather than the amount of taxes paid. Immigration reform advocates say that although payroll taxes are withheld from the checks of illegal workers, they have little chance of collecting benefits. .In his opening statement, Dr. Conway said, "This proposal is part of the Administration's broader strategy to encourage better care, smarter spending, and healthier people by paying for what works, unlocking health care data, and finding new ways to coordinate and integrate care to improve quality." .During the most recent years for which data are available (2000-2004), the total number of mismatched wage reports jumped from 217 million at the end of 1999 to 264 million by 2004, an average of more than 9.3 million per year—82% higher than during the 1990's and more than double the rate of the 1980's. .TSCL enthusiastically supports S. 2011, H.R. 2575, H.R. 991, and H.R. 1205, and we were pleased to see support grow for each one this week. For more information about these and other bills endorsed by TSCL, visit the Bill Tracking section of our website. .The WEP affects people who worked for a state or local government employer that did not withhold Social Security taxes from salary. When you claim the pension for your work as a police officer, the WEP can reduce your Social Security benefit by as much as half of the amount of your pension. .A recent TSCL poll indicates that retirees are split between housing and healthcare costs as the hardest to cover. Forty percent of respondents said that housing, heat and utilities were hardest. Another 40% said healthcare and medications were hardest. Sixteen percent said nourishing food. Four percent said transportation was their most difficult cost. .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. .The absence of a Social Security cost-of living adjustment (COLA), or even an extremely low one, triggers a provision of law that, while a valuable protection of Social Security benefits, has led to several steep increases in the Medicare Part B premium over the past decade. The deep recession caused by the COVID-19 coronavirus and shortages have caused consumer prices to plunge, then rise like a roller coaster in 2020. If consumer prices remain low through September 2020, it is likely there will be an extremely low annual Social Security COLA for 2021, and this provision of law will be triggered to some extent again.[1] .The opinions expressed in "Congressional Corner" reflect the views of the writer and are not necessarily those of TSCL.