News

  • Notch Bulletin January 2011 Feed

    America's seniors deserve a secure retirement without the constant worry of how to make ends meet. Washington should be helping in this effort, not making it harder. But that's not what's happening. .What you don't know about Medicare supplements (Medigap) or Medicare Advantage plans could cost you dearly. The system is rigged in favor of Medicare insurers, and consumers often have little idea what they will need or be able to afford. Here are a few tips: .One Third of TSCL Survey Respondents Have Not Received Routine Dental Care in Two Years … Continued

  • S 1651 Social Security Fairness Act

    Medicare part B was not paid for by increasing taxes but is paid for by borrowing money. So were the tax cuts that the President supported, and Congress passed in 2017. ."Super Committee" Holds Second Hearing .COLAs have flat - lined at unprecedented lows over the past 7 years, averaging just 1.2 percent a year. That's less than half the 3 percent that COLAs averaged from 2000 to 200"The low growth in Social Security benefits since 2009 has a significant impact on overall retirement income of anyone who has been retired since that year," Johnson says. "For people retired over the past seven years, monthly benefits in 2016 are today 13 percent lower than if inflation had been the more typical 3 percent per year," Johnson explains. "In dollar amounts, that's 0 per month lower for someone with average benefits," she adds. "This is huge and this loss of anticipated retirement income compounds every year causing people to spend through retirement savings far more quickly than planned, " she says. "Over the course of a 25 or 30 year retirement, it reduces anticipated Social Security income by tens of thousands of dollars," Johnson says. "Unfortunately this financial impact is not fully understood by the vast majority of the public and Members of Congress — The Senior Citizens League is working to change that," Johnson notes. … Continued

Social Security arose again at the hearing when Committee Member James Clyburn (SC) commented on the payroll tax cap, which is currently set at 6,800. He suggested that the cap be raised to cover 90 percent of income – as it did in the early 1980s – in an effort to restore the program to solvency. Some Members scowled disapprovingly at this proposal and it is still unclear whether the Committee will even touch Social Security, but if they do, this option could appear on the short-list. Clyburn asked Barthold to research the potential effects of raising the wage cap and to report back to the Joint Committee. .Many in Congress have been outspoken about the potential cuts. Last week, a bipartisan group of forty Senators sent a letter to CMS urging administrators to maintain current payment rates in order to protect seniors from potential benefit disruptions. TSCL has also been expressing its concerns to lawmakers, and we will continue to keep a close eye on the issue in the coming weeks. For updates, visit the Legislative News section of our website. .As you know, the medical expense deduction is essential for older Americans who disproportionately experience high medical costs for prescription drugs, medical equipment, or services like nursing home care. Around 5 million taxpayers, most of whom are over the age of sixty-five, rely upon the tax deduction when their out-of-pocket medical costs total more than 10 percent of their annual income. .Read all notices from the Social Security Administration and carefully check the deposit information. If it doesn't agree with your bank account, contact Social Security at once. .For more information, visit the website of the National Academy of Social Insurance at www.NASI.org and download a copy of "When Should I Take Social Security Benefits? ". Or watch a video "It Pays To Wait". .TSCL also announced its support this week for the Medicare Prescription Drug Price Negotiation Act (S. 41, H.R. 242), which was introduced by Senator Amy Klobuchar (MN) in the Senate and by Representative Peter Welch (VT) in the House. Their bill, if signed into law, would require the Secretary of the Department of Health and Human Services (HHS) to negotiate prescription drug prices on behalf of nearly 40 million Medicare Part D beneficiaries. If HHS were able to negotiate similar prices as those paid by Medicaid and the Veterans Health Administration, the Medicare program would save billions of dollars annually, and beneficiaries would have better access to more affordable prescription drugs. .Before the New Year even started, TSCL had been working to convince Members of our new Congress of the immediate need to replace 2021's meager 1.3% cost-of-living adjustment (COLA) with a 3% emergency inflation adjustment. We strongly support "The 3% Emergency COLA Act," introduced by Representatives Peter DeFazio (OR-4) and John Larson (CT-1) and efforts to include provisions of this bill in emergency stimulus funding legislation. .When we contacted the governor's office for evidence to back up DeSantis' comments, press secretary Cody McCloud didn't produce any studies or statistics. Instead, he cited the Florida Department of Health's contact tracing program, writing that it "has not yielded any information that would suggest any patients have been infected while travelling on a commercial aircraft." .In a draft of regulations the FDA gave the following example: "if a person decides to produce and sell raw vegetable juice for use in juice therapy to promote optimal health, that product is a food subject to the requirements for foods … including the hazard analysis and critical control point system requirements for juices. If the juice therapy is intended for use as part of a disease treatment regimen instead of for general wellness, the vegetable juice would also be subject to regulation as a drug under the act."