News

  • How Much Will Medicare Beneficiaries Spend On Healthcare Costs This Year

    The report's findings are significant because the DI program is currently in serious financial trouble. If Congress does nothing to address its funding issues, the trust fund will become insolvent next year, at the end of 201At that point, enrollees will face an across-the-board 20 percent cut in benefits. .According to the president and CEO of the Federation of American Hospitals, "The bill throws a lifeline to caregivers by continuing the pause in the 2% Medicare sequester, and making adjustments to buffer the impact of an ill-conceived change in physician payments during a pandemic." .We are no longer physically able to work, so we're concerned that current Social Security and Medicare benefits and future COLAs will be cut via D.C. shenanigans and slight-of-hand legislation, thus making our financial situation worse. … Continued

  • Notch Bulletin Not Even A Lump Sum Death Benefit

    Bloomberg News reports that the legislation would establish a task force on older investors at the Securities and Exchange Commission. This Senior Investor Taskforce would be required to identify challenges such as the financial exploitation and cognitive decline of investors older than 65, and to consider whether rules issued by the SEC or securities self-regulatory organizations should be changed to benefit them. .Benefit reduction due to your ex-wife's age. — The maximum survivors benefit people can receive is limited to what your ex-spouse would have received if still alive. In 2016 she would have attained age 63, but her benefit would be reduced because she would not have reached her full retirement age, which is 66. .The flurry of activity in Congress has shared the top of the news this week with the continuing Covid-19 crisis and the beginning of the vaccine distribution program. We try not to repeat news here that is available to everyone who gets their news from TV, radio, newspapers or online, but there are two things that occurred in all the activity that are especially important to seniors. … Continued

TSCL would like to remind you to contact your Members of Congress while they are still in their home states and districts. Many Senators and Representatives will attend local events or hold town hall meetings this weekend, giving voters an excellent opportunity to have their questions and concerns addressed. We encourage you to contact your Members of Congress to request their support for fair cost-of-living adjustments, Notch fairness, and other key issues. .Sources: "Policy Brief: The Evolution of Social Security's Taxable Maximum," Social Security Administration, September 2011, No.2011-02. .The Senior Citizens League agrees with Senator Brown, and we oppose the proposal since it would negatively impact Social Security's finances and the retirement security of future beneficiaries. In the days ahead, Senator Marco Rubio (FL) and Senator Joni Ernst (IA) are expected to introduce the proposal as legislation, and TSCL's legislative team will monitor its movement closely. For updates, follow TSCL on Twitter or visit the Legislative News section of our website. .TSCL would like to thank the following Members of Congress and their aides for taking time out of their busy schedules to discuss issues of critical importance to seniors: Rep. Steve Chabot (OH-1), Rep. Jack Kingston (GA-1), Rep. Mark Meadows (NC-11), Rep. Kurt Schrader (OR-5), Rep. Steve Stockman (TX-36), Bobby Cornett (Legislative Director for Rep. Trent Franks (AZ-8)), Hill Thomas (Legislative Director for Rep. John Barrow (GA-12)), and Chris Maneval (Legislative Assistant for Rep. Randy Forbes (VA-4)). .And, in case you had any doubts about why you need that Medicare Advantage plan in the first place, here are the general types of costs if you have Medicare Advantage plan coverage compared with having traditional Medicare with a Medigap supplement. .TSCL strongly supports legislation that would correct how COLAs are calculated to more accurately represent what seniors and the disabled must spend on their out-of-pocket healthcare costs. We strongly encourage you to contact your Members of Congress and attend local town halls during the upcoming campaign season. Help us make the case why a fair and adequate COLA is a necessity to protect Social Security benefits from losing buying power as costs rise. .Julian Tang, an honorary associate professor in the Department of Respiratory Sciences at the University of Leicester in England, said he is aware of several clusters of infection related to air travel. However, it is challenging to prove that people have caught the virus on a flight. .Interestingly, the big drug manufacturers do not like the new rule. A spokesperson for the Pharmaceutical Research and Manufacturers of America (PhRMA), the drug industry's largest trade group, said the rule is "unconscionable" for making it "harder for patients to use manufacturer cost-sharing assistance to lower their out-of-pocket costs for medicines." .Recent vaccines targeting more limited populations, such as a meningitis B vaccine for college students and the shingles vaccine for older adults, have a retail cost of 0 to 0 for a full course.