News

  • Social Security Medicare Questions July 2011 Advisor

    The conclusions of this study were echoed by a different study published in the medical journal Neurology. .Rep. Rosa DeLauro (CT-2) introduced H.R. 4998 on June 26, 201It has since been referred to the Committee on Ways and Means. .Even Republicans who support changing the regulations are opposed to putting it in the NDAA and they may support an effort to pass it and try to override the President's veto, which would be the first of his presidency. … Continued

  • Payroll Tax Cut

    Some 48 percent of participants in The Senior Citizens League latest survey, reported that they expect to pay income taxes on a portion of their Social Security benefits for the 2020 tax year. That's down from 53 percent who reported paying income taxes on their Social Security benefits for the 2019 tax year. But that wasn't the only change. Far fewer retirees also indicated that they would not pay tax on their Social Security benefits — 32 percent for 2020 tax year versus 41 percent for the 2019 tax year. .What happens when Congress waits too long to address a Social Security funding crisis? Deeper benefit cuts, sudden tax increases, and glitches in the implementation of reforms that can lead to significant benefit inequities between people close to each other in age. Consider the case of the Social. Benefit Bulletin: June 2013 What Caused The Social Security Notch? .According to TSCL estimates, benefits are now 13% lower this year than if inflation had remained the more typical 3% for retirees who have been receiving Social Security since 2009 when the low COLAs started. A Social Security benefit of ,000 in 2009 is about 2 per month lower today than if COLA had been the more typical 3%, with a total loss of about ,697 in Social Security benefit growth over the past seven years. Over the same period, however, actual senior costs have continued to climb. Some 72% of retirees who participated in TSCL's 2016 Senior Survey reported that their monthly expenses had gone up by more than in 2015, despite the lack of growth in inflation. … Continued

We encourage all Medicare beneficiaries, who wish to have the legal right to import less costly FDA-approved prescription drugs, to contact your Members of Congress. Ask them to pass the Pharmaceutical Market Access legislation, H.R. 328 (House) and S. 334 (Senate). ."The proposal would apply to both Medicare Part B and Part D drugs, an expansion from an earlier version of the order. The order would apply to Part D drugs where ‘insufficient competition exists.'" .Gang of Eight Defends Immigration Reform Plan .According to consumer price index data through August, ten of the biggest price jumps for Social Security recipients over the past 12 months are illustrated in the following chart: .As of 2019, one quarter of American adults had no retirement savings at all. Only 36 percent of non-retired American adults think that "their retirement saving is on track," according to the Federal Reserve's annual report. There is no question about it: our nation can do a better job of equipping and encouraging our senior citizens to be prepared for this next season of their lives and provide more opportunities for Americans to plan long-range. Part of this can be done at a policy level, by passing practical reforms that address the obstacles to saving that some Americans experience. We must also address this on a personal level, by ensuring more Americans are equipped with the knowledge and resources they need to effectively save for and secure their futures. .We cannot afford to overlook the financial risks associated both with the U.S.-Mexico totalization agreement and with any immigration plan that includes an amnesty provision at the expense of first securing our borders against additional illegal immigration. .Protection of the Social Security Trust Fund – Ensuring that the program's assets are locked out of the general budget. .Immigration reform that provides work authorization, and a pending Social Security Totalization Agreement with Mexico, could mean that a very substantial amount of earnings in the ESF file would be reinstated in the future. Because earnings are used to determine both the number of quarters of coverage worked for insured status, and is used to calculate the initial benefit, this poses a substantial liability to the Social Security Trust Fund worsening its solvency. .Lawmakers Discuss Drug Costs with President Trump