News

  • June 2013 Abc 13

    While the other two rulings went against the Trump Administration, this one was a win on a key piece of Trump's health-care agenda at the end of his administration. .The ongoing problem of extremely low COLAs, and double digit Part B premiums could be eliminated entirely if Congress were to focus instead on ensuring a higher net Social Security benefit. This could be done by enacting a one - time benefit boost or an emergency COLA. Either approach would satisfy the Social Security Act's hold harmless requirement that an individual's net benefit will not decrease from one year to the next as a result of an increase in the Part B premium, as specifically stated in section (§1839[f]). To prevent the triggering of hold harmless it would be very important that an emergency COLA payable in January 2021 is structured as an actual boost to the net benefits of Social Security recipients, rather than simply providing a flat emergency payment by check. .Eighty percent of the nation's active pharmaceutical ingredients come from overseas — and China is its No. 2 supplier, behind only Canada. … Continued

  • Benefit Bulletin September 2020

    Know what debt you have. Make a list of your mortgage, any home equity line of credit (HELOC), credit cards, and any other debt. Making minimum payments may keep you out of collections, but that strategy doesn't pay off debt. Prioritize your loans by the amount of interest, and whether the interest (such as for a mortgage) is tax deductible. Work out a plan to pay off the highest non-deductible interest loan first, while making the minimum payments on other loans. As you get a loan paid off, start on the next highest interest loan. .Larson will soon be reintroducing the Social Security COVID-19 Correction and Equity Act. This bill prevents an unintended and unanticipated cut to Social Security benefits for those affected; it also expands benefits for those who need it most during COVID who have faced long term systemic economic inequalities. .The Senior Citizens League regularly tracks and estimates the projected annual COLA increase with the release of monthly consumer price index data from the Bureau of Labor Statistics. "Inflation data through August are confirming that the COLA will be in the vicinity of 0.2%, forecast by the Social Security Trustees, and that would trigger the "hold harmless" provision," Gibbons says. … Continued

DeSantis' claim that airplanes have not been "vectors" for the spread of the coronavirus is untrue, according to experts. A "vector" spreads the virus from location to location, and airplanes have ferried infected passengers across geographies, making COVID-19 outbreaks more difficult to contain. Joseph Allen, an associate professor of exposure assessment science at Harvard University called airplanes "excellent vectors for viral spread" in a press call. .This week, the Senate Finance Committee met with a representative from the Obama administration to discuss alternatives to the Sustainable Growth Rate (SGR) formula. In addition, The Senior Citizens League (TSCL) saw five key bills gain new cosponsors. .Fraud is so prevalent that prevention is only part of the solution. One in 20 seniors in the U.S. is a target of fraud schemes. Yet, the National Adult Protective Services Association has found that only one in 44 seniors report that they are victims of a fraud scheme, suggesting seniors lack information on how to file a complaint. .However, the pharmaceutical industry has spent billions of dollars over the years fighting this kind of legislation and passing it will not be easy. .Mary Johnson .Although Congress has often enacted "clean bill" debt limit increases, and may do so again, lawmakers have also paid for increases with other types of changes, including changes to Social Security and Medicare. In a 2015 debt limit deal, Congress ended a benefit claiming option that was one of the few ways married couples could maximize their benefits. The change affected some people who were already 62 and entitled to benefits. It cost those affected, thousands in Social Security income that they were depending on getting. .TSCL feels that individuals should not be penalized financially if they are unable to enroll on time due to technical issues with the website, and we enthusiastically support the Delay until Fully Functional Act. We look forward to working with Sen. Rubio and Rep. Radel in the coming months to help build support for their bill. .But according to TSCL studies, Medicare Part B premiums are one of the single fastest - rising senior costs. Data from TSCL's annual survey of senior costs indicate that with next year's Part B increase, premiums will be 168% higher than 2000, rising on average 10.5% per year, even though there was no increase at all over the past two years. Part D premiums have grown roughly 60% since the program started in 2006, averaging about 6% per year. .Some 13% of the people who receive both Medicare and Medicaid are 85 and older. The youngest Notch Babies turn 85 this year, while the oldest turn 9That's approximately 1.17 million. TSCL believes that roughly one quarter of Notch Babies receive Medicaid as well as Medicare.