News

  • Social Security Benefits Go Beneficiaries See No Increase

    The following Members of Congress, among others, will hold town hall meetings this week: Sen. Joni Ernst (IA), Sen. Jerry Moran (KS), Sen. Bill Cassidy (LA), Sen. Charles Grassley (IA), Sen. Angus King (ME), Rep. Joe Barton (TX-6), Rep. Joyce Beatty (OH-3), Rep. Brett Guthrie (KY-2), Rep. Doug Lamborn (CO-5), Rep. Michael McCaul (TX-10), Rep. Steve Stivers (OH-15), Rep. Hakeem Jeffries (NY-8), Rep. Brad Sherman (CA-30), Rep. Justin Amash (MI-3), Rep. Bradley Byrne (AL-1), Rep. Danny Davis (IL-7), Rep. Patrick McHenry (NC-10), Rep. Robert Scott (VA-3), Rep. Sanford Bishop (GA-2), and Rep. Dave Brat (VA-7). .Lawmakers Adjourn for Holiday Recess .Finally, locality pay is subject to the approval of the President, and thus subject to politics. In 2019, the average locality pay adjustment was 0.5%. The annual COLA was 2.8%. The calculation has also been challenged by economists and the nonpartisan CBO as not being accurate. What do you think about using locality pay adjustment rates to adjust Social Security? To send a comment or take a poll on this topic visit . … Continued

  • Social Security Medicare Questions November 2013

    TSCL would like to thank Reps. Larry Bucshon (IN-8), Richard Hanna (NY-24), Mike Conaway (TX-11), Rodney Alexander (LA-5), Jesse Jackson, Jr. (IL-2), Gregory Meeks (NY-6), and Christopher Smith (NJ-4) for taking the time to meet and discuss important issues for seniors. TSCL also met with top staffers in the following offices: Reps. Grace Napolitano (CA-39), Randy Hultgren (IL-14), Roscoe Bartlett (MD-6), Steve Southerland (FL-2), Dennis Kucinich (OH-10), and Peter Visclosky (IL-1). .The estimate of the COLA is updated every month, with the release of new CPI data, so our COLA estimates can change from month to month during the year. Based on the data through August we estimate that the 2022 COLA will be 6% to 6.1%. The actual COLA for 2022 will be announced October 13, 2021. .TSCL supports legislation that would strengthen the COLA three ways: … Continued

Look, nobody gets wealthy off of Social Security. It's a subsistence level program. .Source: Fiscal Year 2010 Inspector General Statement, Social Security Administration Office of the Inspector General, November 2010. .For many, the COLA increase won't be high enough. Those people will once again be held harmless another year. Their Medicare premium increase will be adjusted so that their Social Security benefits won't be reduced, but it may be another year, or even longer, before they see any increase in their net Social Security benefit. .Changes to federal immigration policy affect the revenues that Social Security and Medicare receive and would also increase the number of people eligible for benefits in the future, according to the Congressional Budget Office. Both Social Security and Medicare face solvency and funding challenges. . Zero premiums are also likely to end very soon. If Congress should cut reimbursements to plans as has happened in the past, some plans may respond by no longer offering coverage at all. Should Paula enroll in a Medicare Advantage plan and her plan ceases to offer coverage in the future, Paula could have problems finding something comparable that she could afford. .TSCL believes that the Delay until Fully Functional Act represents a fair solution to the technical problems that the HealthCare.gov website has been experiencing for the past month. Millions of Americans – including seniors under the age of sixty-five – have been unable to purchase insurance coverage through the new marketplace due to the technical glitches. According to the law, those who fail to enroll before March 31st will be faced with a tax penalty of either or 1 percent of income, whichever is higher. .In recent years, inflation and COLAs have been virtually flat, averaging just 1.1% per year since 2010 — with no COLA at all in 2016 and just a 0.3% COLA in 201Slow growth in Social Security benefits, particularly when it continues over a period as long as 8 years, has a very significant impact on the overall amount of lifetime income that retirees can expect from Social Security. When retiree costs climb while benefits remain flat, people wind up having to dig more deeply into retirement savings (if they have any), spending more quickly than anticipated. Many people without other pensions or savings are forced into debt. About one in four low-income older Americans is dependent on programs that provide assistance with essentials like food and healthcare costs. .Traveling through the beautiful farmlands of early primary states, you can find the self-proclaimed champions of socialized medicine amid the flashes of cameras on the campaign trail. If you keep driving through, you'll see the harsh reality beyond presidential candidate photo-ops. You'll see the more than 100 rural hospitals that have closed in the United States since 2010, including two in my district in the last year alone. .Medicare Doesn't Recover The Majority Of Overpayment Payment Amounts,