News

  • Legislative Update For Week Ending January 22 2016

    Let's consider what the I.O.U.s held by Social Security represent. The I.O.U.s are bookkeeping entries, a lot like entries in checking accounts, but are not represented by real cash sitting in a strong box anywhere. The U.S Treasury collects Social Security payroll taxes from employers. In turn, the U.S. Treasury issues I.O.U.s to the Social Security trust fund. In the meantime, those payroll taxes are immediately used for other federal budget operations. When more payroll taxes were collected than needed to pay benefits, that reduced the amount of borrowing from the public that was needed for the general revenues, and lowered taxes. Now, however, the situation has reversed, and the Treasury must increase borrowing from the public to redeem the I.O.U.s held by the trust fund in order to pay benefits. Increased borrowing, and the cost of interest on the debt, further drives up our federal spending. According to many economists, that can weaken our economy, and our nation's ability to respond to a crisis. .Action on Capitol Hill slowed down this week as Members of Congress returned to their home states and districts for the week-long holiday recess. Meanwhile, The Senior Citizens League (TSCL) announced its support for Medicare fraud prevention legislation, and one key bill gained a new cosponsor. .Laws prohibit Social Security officials from saying how much the agency paid Cummings who is now serving a 10-year prison sentence for raping and molesting a 3-year-old girl. Based on the maximum levels in effect during the months he was at large, the 27-year-old Cummings could have received as much as ,556. … Continued

  • Legislative Update For Week Ending July 20 2012

    The term "Notch" refers to the disparity in Social Security benefits paid to people born from 1917 through 1926 and those paid to people born before and after them with similar work/earnings records. Many of those born during the Notch period feel they have not been treated fairly and are not receiving the benefits that Congress intended. On the other hand, the Social Security Administration (SSA), some government officials, and the AARP (formerly the American Association of Retired Persons) say that those born during the Notch period are treated fairly and receiving the benefits that Congress intended. The SSA and the AARP say that Social Security does not promise a specific amount of benefits, rather Social Security is designed to replace a certain percentage of pre-retirement earnings. Who is correct? .Failure to balance between price and services. Assisted living and continuing care communities can be very expensive and more people are living longer in these facilities. It's important to make finances last while maintaining access to the best care. When exploring options, don't be afraid to look into facilities in areas that have lower costs of living, even if you won't be able to visit with your family every single day. What you give up in fancy features, you may trade off with more affordable rents, and service fees, more personal attention, while still getting high standards of care. .The Medicare Trustees estimated in their April 2020 annual report that the base 2021 Part B premium would rise by .70 (6 percent), from 4.60 to 3.30.[1] The annual report was written prior to the coronavirus national emergency and does not incorporate the effects of the coronavirus caused recession, the interaction with an extremely low COLA. … Continued

This week, talks between three committees – the House Ways and Means Committee, the Senate Finance Committee, and the House Energy and Commerce Committee – to repeal and replace the SGR seemed to have stalled. The three committees are currently working on merging their own separate bills to repeal the outdated formula and set up a sustainable path forward. They have until March 31st to do so. Should they fail to reach a compromise, doctors who treat Medicare patients will see a pay cut of approximately 25 percent, which could threaten seniors' access to quality medical care. .On Thursday – seven years to the day that the Affordable Care Act (ACA) was signed into law – lawmakers in the House were scheduled to vote on the AHCA. However, lacking the 218 votes needed to win passage, leaders postponed the vote. After last-minute changes were made to the text – including a repeal of the ACA's "essential health benefits" requirement – President Trump demanded a Friday vote. .The majority of seniors aged 65 who get Social Security depend on it for at least 50 percent of their income. Average benefits today only total about ,200 a year. .Early Thursday morning, following a seven-hour voting marathon, lawmakers in the Senate passed a budget resolution that includes instructions for four committees – two in the House and two in the Senate – to craft legislation to repeal the Affordable Care Act. The resolution passed with a vote of 51-48, without the support of any Senate Democrats. While casting her vote, Senator Claire McCaskill (MO) – who serves as the Ranking Member of the Senate Committee on Homeland Security and Governmental Affairs – said: "Because there is no replace, I vote no." .Medicare recently announced that a big change is coming to Medicare cards. To prevent identity theft and to help protect the program from fraud, Medicare will be dropping Social Security numbers from Medicare cards and issuing new cards starting next year. .TSCL would like to thank Reps. Mike McIntyre (NC-7), G.K. Butterfield (NC-1), and Charles Gonzalez (TX-20) for taking the time to discuss the issues that are most important to our members and supporters. TSCL also met with Jeremy House, Legislative Assistant to Rep. Butterfield, Conrad Risher, Legislative Assistant to Rep. Gonzalez, Tommy Walker, Legislative Assistant to Rep. Diana DeGette (CO-1), Rebecca Shaw, Legislative Assistant to Rep. Chris Gibson (NY-20), and Nathaniel Ferguson, Legislative Assistant to Rep. Scott Rigell (VA-2). .Provide Social Security beneficiaries with an emergency COLA. Medical costs are on the rise, and many seniors are currently experiencing excessive prescription drug price increases of 1,000% or more. Those increases are not reflected in the COLA since it is based on the way young, urban workers spend their money, using the CPI-W. TSCL feels strongly that a modest one-time payment of 0 would give seniors much-needed relief next year. .For Medicare Advantage enrollees whose physicians are dropped, this means one of three things. They will either have to scramble to find a new doctor, pay more to see their out-of-network doctor, or switch to a Medicare Advantage plan with a better network of providers. Seniors who did not choose the third option last fall will have to wait until October – the start of Medicare's open enrollment period – to find a new plan. .The process involves more than just an application. If you qualify you would also need to select a drug plan. You can apply for Extra Help anytime. Visit socialsecurity.gov/i1020 to apply online. Call Social Security at 1-800-772-1213.