News

  • Update For April 3 2021

    Medicare Advantage plans combine both parts of Medicare, and the health plans are required to cover everything that is covered under original Medicare. However, your provider may be reporting your doctor's orders to your Medicare Advantage plan in order to get prior authorization for your CT scan. Most Medicare Advantage plans routinely require prior authorization to manage your care and to prevent excess use of care that has not been documented as medically necessary. This practice protects you from surprise bills, and confirms that the provider is authorized to bill your Medicare Advantage plans for your care. .CBO Releases New Budget Report .The legislation fully covers the cost of providing the emergency payments by closing corporate compensation loopholes, which provide enormous tax breaks for the CEO of the nation's top corporations. By closing the loophole, the bill also would add substantial new revenue to Social Security extending the solvency of both the retirement and disability insurance trust funds. … Continued

  • Legislative Update December 2015

    In the meantime, TSCL will be keeping a close eye on the budget negotiations since they will impact the funding of the Social Security and Medicare programs. We will post updates here in the Legislative News section of our website, and on our Twitter page. .Very modestly boosting the payroll tax paid by workers and matched by employers to employers. .To pay for the boost, advocates propose lifting the payroll taxable maximum so that higher earners pay Social Security taxes on their fair share. In 2017 workers pay Social Security taxes on the first 7,200 in income. But the highest earners, like highly paid CEOs, don't pay anything on earnings over that amount. … Continued

Sources: Statement: Social Security Payments Go Paperless, Honorable Patrick P. O'Carroll, Jr., Inspector General, Social Security Administration, June 19, 2013. .Sources: "Medicare Beneficiaries Sue US Over Hospital Stays," David Morgan, Reuters, November 3, 2011. .Let your Representative know what you think! Ask him or her to co-sponsor, H.R. 2745, the No Social Security for Illegal Immigrants Act. Send an email here. .At that point Congress would either must cut benefits in a major way or raise taxes to pay for continued benefits, something that Congress has refused to do for years. .The SSA and the AARP say, however, the Notch affects only those born during the five-year period of 1917 through 192Those born during that period were covered by a special transitional benefit formula, the purpose of which was to provide a 5-year phase-in for the new 1977 benefit formula. .This week, action on Capitol Hill slowed down as Members of Congress adjourned for a holiday recess. .Let's consider what the I.O.U.s held by Social Security represent. The I.O.U.s are bookkeeping entries, a lot like entries in checking accounts, but are not represented by real cash sitting in a strong box anywhere. The U.S Treasury collects Social Security payroll taxes from employers. In turn, the U.S. Treasury issues I.O.U.s to the Social Security trust fund. In the meantime, those payroll taxes are immediately used for other federal budget operations. When more payroll taxes were collected than needed to pay benefits, that reduced the amount of borrowing from the public that was needed for the general revenues, and lowered taxes. Now, however, the situation has reversed, and the Treasury must increase borrowing from the public to redeem the I.O.U.s held by the trust fund in order to pay benefits. Increased borrowing, and the cost of interest on the debt, further drives up our federal spending. According to many economists, that can weaken our economy, and our nation's ability to respond to a crisis. .Which COVID-19 Vaccine Should You Take? .This is especially important new research at a time when Social Security faces potential changes. President Obama's "National Commission on Fiscal Responsibility and Reform" is scheduled to release its plan to cut the federal deficit by December 1st.