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  • Unprecedented Growth In W2s For Illegals Threatens Social Securitys Solvency Feed

    For updates on the progress of the Prescription Drug Affordability Act or for more information about the Medicare Part D doughnut hole, visit our website at or find us on Facebook and Twitter. .TSCL is supportive of both of Rep. DeFazio's bills, and we were pleased to see support grow for them this week. .Some deficit cutters contend that the out-of-pocket costs that Medicare beneficiaries pay will have to go up and seniors should pay more for their Medicare benefits. "This survey is powerful testimony to those who hold such beliefs," says TSCL Chairman Larry Hyland. "This survey indicates that they don't understand how much seniors already spend for their healthcare, and how many have already cut back," Hyland adds. "With the majority of seniors depending on Social Security for at least half of their income, and healthcare costs increasing several times faster than benefits, few beneficiaries can afford to pay any more than they already do for their healthcare," he notes. … Continued

  • Notch Bulletin March 2011

    The Pharmaceutical Care Management Association, which represents pharmacy benefit managers that run the Medicare prescription drug plans targeted by the rebate rule, said at the time that it was exploring litigation. .The Congressional Budget Office (CBO) recently issued a cost estimate citing the Joint Committee on Taxation's estimates of the cost for Social Security of about 6 billion in reduced SS revenues between 2020 -2021, increased revenues from repayments of 9 billion between 2022-2023, and about billion in higher outlays which would be due to administrative and debt costs. The CBO assumes that some companies will go out of business and would be unable to repay deferred taxes — about billion in Social Security revenues. The CBO warned that uncertainties its estimate of the CARES Act are high, and that actual outcomes could vary significantly. .The federal government negotiates prescription drug prices for Medicaid and for veterans, but it is not allowed to negotiate lower prices for Medicare beneficiaries. Do you support this policy? … Continued

The Senior Citizens League encourages its supporters to attend these events and to ask important questions of their elected officials, like the following four… .Your drug plan will provide you with forms and a package of information about how your mail order program works. You will need to ask your doctor for a 90-day prescription. Since it can take up to two weeks for delivery, make sure you either have a 30-day supply of your prescription on hand when you place your first order, or ask your doctor for a temporary 30-day prescription in addition to the 90-day, so that you can fill it at your retail pharmacy if you need to start the medication right away. .TSCL has concerns about this approach, since it would mean that Social Security's Old Age and Survivor's Insurance (OASI) trust fund would receive 0.9 percent less in payroll tax revenues, worsening the retirement program's financing. In a recent poll conducted by TSCL, this approach received virtually no support from respondents – less than 1 percent said shifting revenues from one trust fund to another would be the best way to fix the program's solvency. .Because of the high air exchange rate, it's unlikely you'll catch the coronavirus from someone several rows away. However, you could still catch the virus from someone close by. .According to the Urban Institute, parents who take paid leave one time would see a 3.2 percent cut in their future Social Security benefits, and parents who take paid leave two times would see a benefit cut of around 5.5 percent. Those who take four paid leaves would see permanent Social Security benefit cuts of around 10 percent in retirement. .Understand what is covered and what isn't. First the good news: You are probably covered in case a meteorite strikes your home. Now the bad: Your coverage probably doesn't protect you from floods or even a sewer back up. You may be underinsured. Insurance industry surveys indicate, for example, that 43% of homeowners believe damage from heavy rain flooding is covered under the standard insurance policy. It isn't. To be protected you must purchase supplemental flood insurance or other types of riders to your homeowners policy. The same may be true of wild fires, mudslides, sink holes and other natural disasters. If you live in a high-risk zone, consider adding flood or other supplemental coverage. .With the Senate being so sharply divided, achieving that result is very questionable. .Last week there was major news concerning Social Security, Medicare, and prescription drug prices – or at least so it seemed. But "the devil is in the details" and we will try to sort it out for you below. .Social Security was never designed to be the sole source of retirement income. It replaces around 40 percent of the average earnings of its beneficiaries. Pensions and savings form the two other major streams of retirement income, but people who retire with all three sources of retirement income are rare. Even worse, recent research from the National Institute of Retirement Security found that more than 40% of older adults have no retirement income other than Social Security.