News

  • Ask Advisor December 2014

    While very little of the President's budget blueprint for fiscal 2015 will be considered by those in the House and Senate, it does serve as an important benchmark for lawmakers. Members of the House Budget Committee are expected to unveil a proposal of their own in the coming weeks. In a statement made early this week, Speaker John Boehner (OH-8) said that it will "promote opportunity, reform our tax code, and save our critical safety net programs." TSCL will continue to monitor the budget negotiations as they evolve, and we will provide updates here in the Legislative News section of our website. .Sources: "Report: Social Security Numbers Active For 6.5 Million People Aged 112," Stephen Ohlemacher, Associated Press, March 14, 201"Man Impersonates Dead Mother To Collect 5,000 In Social Security, Rent Subsidies," New York Daily News, June 17, 2009. .The second issue is the COLA – specifically next year's COLA. … Continued

  • Legislative Update June 2011 Advisor Feed

    On the unemployment payments to individuals, there are a lot of legal questions about the money the President wants to use to pay for this. He calls for billion of funding from the Department of Homeland Security's Disaster Relief Fund that is normally used for hurricanes, tornadoes, and massive fires to be shifted over to unemployment. ."The group of Democrats blocked one committee from advancing their party's drug-pricing legislation, with two members arguing it was too far-reaching and could stymie innovation in the pharmaceutical industry. Some of those Democrats also want to rein in a proposal to expand Medicare to include dental coverage, a high priority for progressives such as Sen. Bernie Sanders (I-Vt.)." .The Social Security 2100 Act — In the 115th Congress, Congressman John Larson's (CT-1) Social Security 2100 Act gained the support of more than 170 cosponsors, but unfortunately it was not brought to the House floor for a vote. In TSCL's December meeting with Congressman Larson's staff, he agreed to re-introduce the bill at the start of the 116th Congress, and to convene several hearings on the bill as the new Chairman of the House Ways and Means Social Security Subcommittee in the 116th TSCL is confident that the bill will be advanced by the House of Representatives by the end of this year. … Continued

A deductible is the amount of money you must pay before your coverage starts. Many Medicare supplements (Medigap policies), Medicare Advantage plans, and drug plans cover Medicare's deductible as part of the coverage you purchase. Medigap polices "B" through "J" pay the Part A dedictible, and Plans "C", "F" and "J" also cover the Part B deductible. Medicare Advantage Plans and prescription drug plans may or may not have a yearly deductible depending on the type of plan you choose. There are also federal and state government programs for low-income seniors that provide assistance for this cost. .Is the evidence really so clear? .Social Security Totalization Agreements are designed so that workers and their employers would not be subject to double taxation, owing payroll taxes to both the country in which they work, and their home nation. In addition, totalization agreements allow workers to earn generic work credits good for receiving retirement benefits in either country. These credits from the United States and other countries can be totaled together to receive benefits. The U.S. currently has 24 totalization agreements with other nations, most having economies similar to our own. .Guarantee a minimum COLA of no less than 3 percent. .This week, one new cosponsor – Rep. Betty McCollum (MN-4) – signed on to the Social Security 2100 Act (H.R. 1391). The total is now up to sixty-two. If signed into law, H.R. 1391 would increase Social Security benefits by 2 percent, cut taxes for over 11 million seniors, increase the minimum benefit to 125 percent of the poverty line, and make cost-of-living adjustments more fair and accurate. It would also take measures to increase the solvency of the trust fund beyond the next seventy-five years, through the year 2100. .This week, the Ways and Means Committee advanced a bill that would repeal the Affordable Care Act's (ACA's) Independent Payment Advisory Board (IPAB), and The Senior Citizens League (TSCL) saw one key bills gain support. .The Notch Fairness Act, which was introduced by Rep. Mike McIntyre (NC-7) in March, would provide compensation to Notch babies, or those born between the years 1917 and 192Just years before they were set to retire, these individuals learned that they would have significantly lower benefits than they originally anticipated. TSCL feels that this is an inequity that was brought about because of the Social Security Act Amendments enacted and signed into law in 1977. .The Hard Times Guide to Retirement Security .The Social Security 2100 Act — In the 115th Congress, Congressman John Larson's (CT-1) Social Security 2100 Act gained the support of more than 170 cosponsors, but unfortunately it was not brought to the House floor for a vote. In TSCL's December meeting with Congressman Larson's staff, he agreed to re-introduce the bill at the start of the 116th Congress, and to convene several hearings on the bill as the new Chairman of the House Ways and Means Social Security Subcommittee in the 116th TSCL is confident that the bill will be advanced by the House of Representatives by the end of this year.