News
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Congressional Corner Totalization Amnesty And Illegal Immigrations Drain On The Social Security
Healthcare Debate Continues in Senate .According to the National Council on Aging, 34% of older households hold credit card balances, and another 29% still owe money on a mortgage, home equity line of credit, or both. Digging out requires work and making changes. Reducing debt requires increasing income, restructuring your budget, and other changes. Here are some things to consider: .This week, Members of Congress returned to Washington to begin working on a temporary measure that would avert a government shutdown on October 1st. In addition, The Senior Citizens League (TSCL) announced its support for one new piece of legislation, and three key bills gained cosponsors. … Continued
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Prescription Drugs
A study on the buying power of Social Security benefits by Johnson has found that Medicare Part B premiums are the single fastest growing cost that retirees have, increasing 195 percent since 2000. Most retirees also have premiums for a Medicare supplement (Medigap) and Part D drug plan, or a Medicare Advantage health plan with drug coverage. Medigap premiums have increased 158 percent since 2000, and out-of-pocket spending on prescription drugs increased 188 percent. .TSCL was pleased to see support grow for H.R. 1902, H.R. 2575, and H.R. 4841 this week, and we will continue to advocate for them tirelessly in the months ahead. For more information, visit the Bill Tracking section of our website. For updates on the progress of these and other bills, follow The Senior Citizens League on Twitter. .— who have no Medicare supplement through a former employer. … Continued
Double check the price quote that you received by checking the difference in price between several retail walk-in pharmacies and Humana's mail-in. Sometimes the price can be very different between the two. I learned that my drug plan's mail-in pharmacy would charge me 3 for three albuterol inhalers. The small local walk-in pharmacy was still charging just 1.99 for three. Often, mail order can be less expensive than walk-in retail. Check for each separate drug. You can use the Medicare drug plan finder to help you look up your plan and learn the cost of your co-pay or co-insurance. .False and invalid Social Security numbers SSNs are supplied to employers virtually without any serious or immediate consequence. Illegal immigrants work using numbers belonging to another person, numbers that have been made up, by using "non-work" SSNs. Employers report the wages using these numbers or in some cases where no number exists, file the reports using a series of zeros in the SSN box (000-00-000).(7) In addition, immigrants who are in the U.S. illegally may work under one or more aliases. The unauthorized wages earned and reported under invalid SSNs represent a rapidly growing future benefit liability should Congress enact immigration reform that gives work authorization to immigrants working in this country illegally today. .Medicare Savings Programs cover the cost of the Medicare Part B premium, saving a person 8.50 per month in 202Depending on income, those with the lowest income may also qualify for additional benefits that cover the Part B deductible and out-of-pocket costs. People with incomes in 2020 of up to ,456 per month (individual) or ,960 (married couples) might be eligible if they have limited savings and resources of ,860 (individuals) or ,800 (married couples). These limits are slightly higher for Hawaii and Alaska. This program is administered through state Medicaid programs and states may have guidelines that allow people with slightly higher income to enroll. If interested ,contact your local Medicaid office to apply. .The legislation is called a "CR" - a continuing resolution, which means the government will be funded for a short period of time and for the most part it will be at the same funding levels as in fiscal year 201The CR will last until Nov. 21 at which time one of three things must have happened. Either they will have finally passed all the funding bills needed for the rest of the fiscal year; or they will have passed another CR; or we will have another government shut-down. .TSCL is a strong supporter of H.R. 973, and we were pleased to see support grow for it this week. .This week, one new cosponsor – Rep. John Sarbanes (MD-3) – signed on to the Protecting and Preserving Social Security Act (H.R. 1811), bringing the total up to eleven. If signed into law, H.R. 1811 would base Social Security cost-of-living adjustments (COLAs) on the Consumer Price Index for the Elderly (CPI-E) and it would gradually phase out the cap on income subject to the payroll tax. It would extend the program's solvency for decades into the future responsibly, without cutting benefits for seniors. .The Notch Could Happen Again .Based on your age, you potentially may be able to use a claiming strategy at your full retirement age (66) that could provide you with a divorced spousal benefit, while you wait for your own benefit to grow. Once you have reached full retirement age you can choose to receive only the divorced spouse's benefit and delay receiving retirement benefits based on your own work record until a later date or when you turn age 70. .TSCL supports legislation that would lift or eliminate the Social Security taxable maximum. Such a change is estimated by Social Security Trustees to eliminate 67% of Social Security's long-term shortfall over 75 years while improving retirement security.
