News

  • October 2012 Millionaire Corner

    The proposal is not new. Former Federal Reserve Chairman Alan Greenspan supported a similar proposal in the late 1990s. In fact, it's one of a series of technical changes to the CPI recommended by the Boskin Commission in 1996 — which said that the CPI overstates inflation and that the COLA overpays seniors by about 1.1%. The Bureau of Labor Statistics busily instituted a number of those changes from 1995 through 2000 that, by my estimates, have already cut the rate of growth in the CPI and average Social Security benefits, compared to previous CPI measurement methodology by about 5 annually over the past ten years. If Congress were to adopt the chained CPI to calculate COLA starting with the COLA payable in 2012, that would additionally cut the growth in average benefits by about ,429 over the next ten years. .To stay updated on TSCL's legislative efforts and their progress in Congress, visit the Legislative News section of our website. You can also find us on Facebook or Twitter for more frequent legislative updates. .In case Congress is not able to come to an agreement concerning legislation to lower prescription drug prices, there are reports that President Trump is considering executive action to cut drug prices ahead of the 2020 election as he enters his re-election seeking to rebut Democratic criticism that his policies have hurt U.S. health care. … Continued

  • Proposal Boost Social Security Benefits Caregivers Strongly Supported

    Discussion on the bill will likely continue into the summer, and TSCL will continue to monitor the ongoing debate. We remain hopeful that lawmakers will address any loopholes that would allow immigrants to claim Social Security credits based on work done illegally. In addition, TSCL is concerned that those with provisional status could have access to Social Security and Medicare benefits before they are granted citizenship. Both of these issues would put an unnecessary and unspecified strain on the Trust Funds, and we will continue to inform Members of Congress about potential issues in the coming weeks. .If you would like to continue receiving these press releases via email, please send your email address to [email protected]. .Poor oral health makes serious medical conditions more difficult to treat. Researchers have found links between gum disease and other inflammatory conditions such as heart disease, stroke, diabetes, respiratory, and Alzheimer's disease. Improved oral care on the other hand, can reduce medical costs in patients with inflammatory diseases, according to research published in the American Journal of Preventive Medicine. To improve health outcomes for beneficiaries and reduce Medicare spending on diabetes and other inflammatory diseases, Medicare needs to cover routine dental care. More than 81% of participants in our 2019 Senior Survey agree. … Continued

The last thing we need to happen to our healthcare system is to limit access to quality care. Already, 1-in-3 physicians are limiting the number of Medicare patients they see, and 1-in-8 physicians are refusing Medicare patients all together. Furthermore, the Affordable Care Act created the Independent Payment Advisory Board to control Medicare cost. This would place 15 bureaucrats, appointed by the president, in a position to control the future of Medicare and is another example of the Federal Government forcing themselves into your health care decisions. .Key Bills Gain Support in the House and Senate .In January, lawmakers on Capitol Hill will likely begin efforts to repeal the Affordable Care Act, overhaul the tax code, dramatically alter trade deals, and confirm a new Supreme Court Justice. It remains to be seen which other policy issues will be prioritized by the Republican Congress. Efforts to reform the Social Security and Medicare programs have been on the table for years, and in the platform that the Republican party adopted back in July, lawmakers agreed that "of the many reforms being proposed, all options should be considered." Proposals to raise the Medicare eligibility age or to adopt the "chained" CPI – which would result in more slowly-growing Social Security cost-of-living adjustments – could see congressional action in 2017. .Please join us in our efforts by signing our Social Security Fairness petition to Congress, or by calling your elected officials and asking them to support CPI-E legislation. .By Representative Brad Wenstrup (OH-2) ."Most people 65 and over take more than one prescription drug, so to get the lowest-costing plan that's right for you, people need to do a drug plan comparison based on all the drugs they currently take, " Johnson explains. "In addition, you should carefully compare prices at network retail pharmacies as well as mail order — those prices can also vary significantly," Johnson notes. .Reduce the size of the initial retirement benefit that new Social Security beneficiaries are scheduled to receive; .How To Make Smarter Tax Decisions — Higher taxes are in the pipeline for all taxpayers, including seniors. It's essential to get better acquainted with your tax liabilities now, and to take action to reduce them. .The Senior Citizens League regularly tracks and estimates the projected annual COLA increase with the release of monthly consumer price index data from the Bureau of Labor Statistics. "Inflation data through August are confirming that the COLA will be in the vicinity of 0.2%, forecast by the Social Security Trustees, and that would trigger the "hold harmless" provision," Gibbons says.