News
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Notch Bulletin February 2010 Advisor Feed
Medicare Pays More for Drugs than Medicaid .What is TSCL? .What you can do. If you come across an op-ed calling seniors "Greedy Geezers" in your paper or hear it elsewhere let's set the record straight. Send a letter to the editor of the publication where you see it and please send TSCL a copy! Send mail to: The Senior Citizens League, 1001 N. Fairfax St. 101, Alexandria, VA 22314. … Continued
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Calls Continue For Major Medicare Changes
My husband survived cancer but his healthcare costs depleted our savings. Do you have suggestions for coping with debt in retirement? .The Senior Citizens League (TSCL) will be monitoring CR discussions in the Senate in the coming hours and days, and we will post updates on Facebook and Twitter. In addition, we will continue to monitor ongoing budget discussions since they are expected to include plans to repeal the Affordable Care Act. As was noted in a recent legislation update, repealing the law would impact the Medicare program in several ways. For instance, progress that has been made to close the prescription drug "doughnut hole" would be reversed, and the Hospital Insurance Trust Fund that finances Medicare Part A would lose an important stream of funding that the law created. The Trust Fund could face immediate depletion if eliminated. .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. … Continued
Five years after IPAB's creation, it still has no appointed members and, due to record-low growth in healthcare costs, it hasn't been triggered to make recommendations to Congress yet. Sylvia Mathews Burwell, Secretary of the Department of Health and Human Services, says she doesn't expect it to be triggered until 201But hundreds of lawmakers have serious concerns about the prospect of the board since it would be comprised of unelected and unaccountable appointees. They are hoping to pass legislation that would do away with it by the end of this year. .The Medicare Trustees estimated that the base monthly Medicare Part B premium in 2012 would be 6.60. For seniors who became eligible for Medicare in 2010, that may be a modest savings. Those seniors are probably paying a base premium of 0.50 for Part B. But most seniors will pay more. You should plan accordingly as well since any increases in your Medicare supplemental plan and drug coverage and out-of-pocket costs, would very likely offset what little savings you may get on Part B. .The TSCL Board of Trustees and staff are all dedicated to helping seniors. The following services provided by TSCL are considered primary and essential to the betterment of the quality of life of our nation's senior citizens: .This situation is only for 30 months though. Once you turn age 66 you can earn as much as you want without reduction to your Social Security benefits. Meanwhile you continue to work and delay your retirement benefit allowing it to grow. Once you reach age 70 you should go ahead and switch to your own larger retirement benefit, since it won't grow any larger. .If these cuts ever went into effect, it could mean tens of millions of seniors no longer have access to their doctors and essential healthcare services. This is unacceptable. For too long, Congress has failed to seriously tackle the issue of physician payment reform, and instead has kicked the can down the road with short-term fixes that have now created a long-term fiscal nightmare. This has been the absolute wrong approach for American seniors and our federal budget. And that is why I have been working hard to protect seniors' access to their doctors by putting forth a plan to fix this broken system once and for all. .High unemployment during the COVID pandemic of 2020 could cause an estimated 4 million people who were born in 1960 to face permanent reductions to their Social Security benefits, due to a flawed feature of the Social Security benefit formula. Congress can prevent this from happening, but only if it takes action in time. To prevent benefit cuts, Congress may need to enact legislation by the end of this year, before the 1960 birth cohort turns 62 and first become eligible to claim Social Security retirement benefits. .(Washington, DC) – The tax bill being discussed in the U.S. House contains what may be only a fleeting benefit for middle class and older Americans, warns The Senior Citizens League. "The changes under consideration may provide some modestly lower federal income taxes at first, but the benefits for many people would be short - lived," says The Senior Citizens League's Social Security and Medicare policy analyst, Mary Johnson. "Older middle - income Americans could shoulder a disproportionate share of taxes under these changes, and get pushed more quickly into higher tax brackets than they are today," says The Senior Citizens League's Social Security and Medicare policy analyst, Mary Johnson. .Throughout the hearing, the witnesses stressed the importance of acting quickly, before reform options run out and seniors are left with a 23% benefit cut. Despite their pleas, however, it doesn't seem like Congress will be ready to compromise on Social Security reform any time soon. .(Washington, DC) – Half of retirees participating in a new survey by The Senior Citizens League (TSCL) say they paid income taxes on a portion of their Social Security benefit income for the 2019 tax year. "There was no change from previous years in the 50 percent of retiree households who report that they pay tax on a portion of their benefits, despite the 2017 tax reform law, says Mary Johnson, a Social Security and Medicare policy analyst for The Senior Citizens League.
