News

  • Legislative Update For Week Ending February 15 2013

    TSCL Supports New Legislation .In reality, no Social Security reduction is small, because the loss compounds over time. The problem is especially unacceptable when this problem can be prevented by Congress in the first place. Individuals who were born in 1949 and who retired at age 66 with average benefits have lost about ,915 through the end of 2021, due to the reduction in the AWI in 200Their benefits today are about per month lower than what they otherwise would have received had they been born one year earlier. Even worse is the loss over time. Assuming that an individual lives to age 90, retirees born in 1949 would lose an additional ,297 in lifetime Social Security benefits—or even more, if their benefits are higher than average. This type of benefit reduction is known as a "notch" in benefits, and those affected might be referred to as the "1949 notch babies." .In view of what happened and the substantial differential in pure dollar terms, TSCL believes "The Notch Fairness Act" is a fair, and even modest settlement for those who were affected by the Notch. "The Notch Fairness Act" would provide those born from 1917 through 1926 the option of choosing ,000 payable over a five year period or an improved monthly benefit. … Continued

  • Legislative Update Week Ending July 27 2018

    "Anything that puts you in contact with more people is going to increase your risk," said Cindy Prins, a clinical associate professor of epidemiology at the University of Florida College of Public Health and Health Professions. "If you compare it to just staying at home and quick trips to the grocery store, you'd have to put it above" that level of risk. .At the hearing, Burwell made two key points of interest to TSCL. First, she commented that she fully supports President Obama's proposal to increase means testing within Medicare. TSCL opposes the President's plan since we fear that it could have unintended consequences that would ultimately drive up costs for many of the oldest and poorest seniors. Second, Burwell committed to work with Congress to repeal and replace the flawed sustainable growth rate (SGR) formula, which has brought instability to the Medicare program for more than a decade. TSCL supports efforts to find a permanent solution, since repealing the SGR will result in higher quality medical care for seniors. .This week, the House of Representatives was scheduled to consider legislation which would repeal the health care reform law. However, due to the tragic shooting in Arizona over the weekend—which left six people dead, eleven wounded, and Congresswoman Gabrielle Giffords (AZ-8) clinging to life—the House schedule was cleared. … Continued

This week, TSCL announced its support for three new bills: the Social Security Safety Dividend Act (H.R. 67), the Medicare Prescription Drug Price Negotiation Act (S. 41, H.R. 242), and the Safe and Affordable Drugs from Canada Act (S. 64). .Unlike income tax brackets that are adjusted for inflation, the income thresholds that subject Social Security benefits to taxation have never been adjusted since Social Security benefits became taxable in 198When the law was first passed, less than 10 percent of all Social Security recipients were estimated to have incomes high enough to be affected by the tax on benefits. But today, even retirees with very modest incomes can be affected by the tax. .Get routine physicals and screenings done prior to the start of Medicare's annual Part D Open Enrollment. Case in point: My client had problems with her new blood pressure medication. It was one of the most common and inexpensive generics but she suffered from extreme fatigue and depression. At my urging, she returned to her doctor and was given a new brand prescription to try and a 7-day free sample. She felt better right away. Routine physicals and screenings are generally scheduled about 12 months apart, but try to get them completed about 30 days BEFORE the annual fall Medicare Part D Open Enrollment period, so you can allow for a trial period with any new meds. When you get your new prescription, ask your doctor or pharmacist for a complete list of side effects or possible drug interactions. Keep a list of symptoms if you don't start feeling better. .With reconciliation, Democrats can pass a bill without any Republican votes so they are hoping to get a much more comprehensive bill than the Grassley-Wyden one. .The main bill in the Senate regarding prescription drug prices is one that is authored by Senators Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.). After Trump issued his executive orders, Sen. Grassley said he plans to use the time until the executive orders go into effect to build support for his own prescription drug package which, as we said above, has stalled in the Senate. .As much as the protection against reduction of Social Security benefits is appreciated, Barbara has been frustrated about high Medicare premium costs after years of low or no COLA growth. "It's been 36 months since I've had any raise in my net operating Social Security, but my actual household costs continue to go up," Barbara told us. "This isn't fair to retirees," she adds. .Uncovered healthcare costs — In planning your budget, include costs that Medicare doesn't cover — dental care, eye exams and eyeglasses, for example. When shopping health plans, some MA plans may offer extra benefits like these. .However, price negotiations could be included later this year in a reconciliation bill, a fast-track budgetary move that only needs 51 votes to pass the Senate and cannot be blocked using a filibuster. .The increased amounts are phased out for incomes over 0,000 for married couples filing jointly and qualifying widows or widowers, 2,500 for heads of household, and ,000 for all other taxpayers.