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  • Social Security Medicare Questions March 2011 Advisor

    This week, The Senior Citizens League was pleased to see support grow for three important bills that would strengthen the Social Security program if signed into law. .Take Our TSCL Monthly Poll .On Monday, President Obama released his .8 trillion budget request for fiscal 2013, calling it "a blueprint for how we can rebuild an economy where hard work pays off and responsibility is rewarded." While the proposal leaves Social Security as is, many Medicare beneficiaries – especially those considered "high earners" – would see major changes. … Continued

  • Is Someone Using Your Medicare Number To Steal Drugs

    The Social Security Trustees estimated last year that SS payroll taxes in 2020 would be about 3.8 billion under average economic conditions. Thus the 6 billion cost of the payroll tax provision in the CARES Act appears to be as much as 42% of all anticipated Social Security revenues for 2020. .According to the Congressional Budget Office (CBO), wages are growing faster for people who earn more than the Social Security taxable maximum than for people earning less. The CBO projects that this unequal growth in earnings will cause a decline in revenues received by the Social Security Trust Fund over the next decade. .The Effect of Economic Conditions Was Not Foreseen, and Therefore Could Not Have Been Intended by Congress … Continued

We encourage you to tell incumbent Members of Congress who are running for re-election what you expect from the lawmakers who represent you. Outline the changes you support for Social Security and ask the candidates if they are willing to end the tax breaks for the wealthy so that all working Americans can enjoy a more secure retirement. .Could you tell me the advantages and disadvantages of life insurance once we start Social Security? Doesn't Social Security pay widow's benefits? Do we really need life insurance if we have a (401)k and IRA savings? .When it comes to generic drugs, a "substantial portion" of U.S. imports come either directly from China or third countries such as India, which use active ingredients sourced from China. .The proposal calls for switching to a more slowly-growing consumer price index (CPI), known as the "chained" CPI, to calculate annual COLAs. Chaining is an apt name for it because that's what it would do to benefits — chain them down. .The FDA advises consumers to be cautious of websites and stores selling products that claim to prevent, treat or cure COVID-1There are no FDA-approved products to prevent COVID-1Products marketed for veterinary use, or "for research use only," or otherwise not for human consumption, have not been evaluated for safety and should never be used by humans. .It would: boost monthly Social Security benefits by 2 percent, improve the adequacy of the Social Security cost-of-living adjustment, create a new minimum benefit set at 125 percent of the poverty line, and cut taxes for millions of beneficiaries. To cover the cost of these benefit enhancements and extend the solvency of the Social Security Trust Funds for decades to come, it would also apply the payroll tax to income over 0,000 and gradually increase the payroll tax rate from 6.2 percent to 7.4 percent. .The Kaiser Family Foundation estimates that the number of beneficiaries that will be required to pay the increased Medicare premiums will almost triple over the next decade rising from five percent of beneficiaries in 2011 to 14 percent in 2019 due to the expansions of "means testing" in the PPACA. By 2019 one out of every five new enrollees will have to pay higher premiums. The Senior Citizens League strongly opposes the "means test" and supports efforts to repeal it. To learn more, please visit . .I've been hearing a lot recently that Social Security is a Ponzi scheme. Just how much in Social Security benefits can I expect? I just turned 62, but I'm still working and haven't started benefits yet. .Providing Medicare services is not simple, but it is critical that we continue to make efficient investments in the healthcare expenses of 48 million people and develop an adequate workforce to provide those services. I proudly voted for the Patient Protection and Affordable Care Act (PPACA), which expanded access for Medicare beneficiaries and increased investment in healthcare provider training. I also remain a staunch opponent of attempts to increase costs to beneficiaries and privatize this valuable program.