News
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Update Social Security Benefits Lose 32 Percent Of Buying Power
This past week, Reps. Jerrold Nadler (NY-8) and Richard Neal (MA-2) signed on to H.R. 1332, the Social Security Fairness Act. The total is now at 14Sen. Tom Udall (NM) signed on to S. 2010, the Social Security Fairness Act, bringing the total to two. .Because of that, it now appears both the House and Senate will pass the NDAA and attempt to override the President's veto if he keeps his threat. .That was the second ruling in a week to delay the policy. A federal judge in Maryland had ordered on Dec. 23 that the rule, which was slated to take effect Jan. 1, be paused for two weeks. … Continued
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Legislative Update Week Ending January 16 2015
The news was dominated by the pandemic and the beginning of the vaccination roll-out, the drama over President Trump's veto of the National Defense Authorization Act as well as his threatened veto of the government funding/economic stimulus bill, and his continued attempts to try and overturn the election results. .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 will be working for legislation to ensure both hospitals and Medicare Part A weather COVID-19 and its aftermath to keep both strong and working for all who depend on Medicare! … Continued
The Effect of Economic Conditions Was Not Foreseen, and Therefore Could Not Have Been Intended by Congress .It is times like these when Social Security benefits are increasingly important, when "the best laid plans" are going awry for millions of seniors. As Congress considers changes to the Social Security system, TSCL is urging Congress to make the need for adequate and stable benefits a priority. . Send an email to your Members of Congress. This is an election year, and the last thing they want to hear is that health insurers are blaming COVID-19 for the steep price increases. You can get email addresses on TSCL's website here: http://wfc2.wiredforchange.com/o/8854/p/dia/action4/common/public/?action_KEY=10560. Or, you can look up your Representative and send emails at: www.house.gov and Senators at: www.senate.gov. .GOP offers Super-Committee concession while seniors see increased poverty levels. .Jodey Arrington represents Texas' 19th Congressional District in the U.S. House of Representatives and is a member of the House Ways and Means Committee. .New regulatory threats, some at the urging of the pharmaceutical industry, could make it impossible for seniors to purchase certain products like vitamins and minerals without a prescription. It may sound outrageous, but seniors could soon be limited in their access to things as simple as protein shakes, vegetable juice and even herbal hand lotion without a prescription. The U.S. Food and Drug Administration (FDA) recently began imposing new regulations on products used in "Complementary and Alternative Medicine" (CAM). TSCL is concerned the expensive federal regulations will restrict seniors' access to commonly available items and drive up costs for those that remain on the market. .Medicare and many state Medicaid programs are in the process of transitioning to value-based medicine that would change the way government healthcare programs pay for care. Doctors and healthcare providers are given incentives to improve health and to reduce the incidence of chronic disease — in order to lower spending on healthcare and provide better care at a lower cost. There's emphasis on giving providers single payments for a "bundle of services" instead of paying for each service, checkup or X-ray. This reimbursement system differs from traditional fee-for-service Medicare, as well as Medicare Advantage plans' "capitated" payments, in which providers are paid more for sick patients, regardless of health outcomes. ."Our example just looked at the salaries and performance pay of just 20 CEOs," notes Johnson. "According to the Social Security Administration, there will be 12 million people who earn above the taxable maximum in 2018," she adds. .Under the Affordable Care Act, or Obamacare, private and public sector large employers are responsible for providing health insurance for employees and contributing toward the cost of insurance. Generally, the federal health insurance exchange is only available for people who can't otherwise afford to purchase the insurance offered by their employer (according to thresholds set by law). But the fight to pass the 2010 Affordable Care Act was so contentious and controversial that some Members of Congress insisted that their colleagues set an example and be required to have the same coverage as all other Americans.
