News

  • Legislative Update June 2011 Advisor Feed

    The proposal to switch to the chained CPI has come up numerous times during past budget negotiations over lifting the federal debt limit. Most recently the proposal appeared last December in a 2016 House bill that would reform Social Security, and in an alternate fiscal year 2017 budget proposed by the Republican Study Committee. The proposal remains a key provision of debt reduction plans, because so many federal benefit programs and the tax code are adjusted using the CPI. The CPI-U has recently been proposed to index Medicaid payments in the Senate health bill. Economists have estimated that adopting the chained CPI would cut Social Security by 0 billion over ten years. .This week, four new cosponsors signed on to the Social Security Fairness Act (H.R. 1795), bringing the total up to one hundred and thirteen. The new cosponsors are: Reps. Michael Fitzpatrick (PA-8), Frank LoBiondo (NJ-2), Brett Guthrie (KY-2), and Katherine Clark (MA-5). If signed into law, the Social Security Fairness Act would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two federal provisions that unfairly reduce the earned Social Security benefits of millions of teachers, fire fighters, peace officers, and other state or local government employees each year. .We will update you whenever we have additional information. … Continued

  • Legislative Update June 2010 Advisor Feed

    Because of these risks, action will be required well before 2037 and the costs associated with delaying action grow each year. While TSCL understands that changes are needed to the Social Security system and some small changes are likely, harsh benefit cuts should not be tolerated. .If our annual COLA works as intended, this should not happen. .his week, members of the new budget conference met for an opening session, and The Senior Citizens League (TSCL) announced its support for legislation that would extend the open enrollment period for the Affordable Care Act's (ACA's) health insurance exchanges. In addition, important numbers were released by the Department of Health and Human Services (HHS) this week, and TSCL saw . … Continued

Seventy-eight percent of the prescriptions ordered by one Florida physician were for Schedule II drugs. For one beneficiary, this physician prescribed a 605-day supply of morphine, a 52day supply of oxycodone, a 460 - day supply of fentanyl, and a 34day supply of hydromophone. ."While there's nothing unlawful per se about rushing to enact policy in the final days of a presidential administration (indeed, it's a time-honored tradition), executive branch officials may not circumvent clear legal requirements in the eleventh hour to achieve goals they couldn't accomplish in the normal course," he said. .Sources: "Choices for Debt Reduction," The Congressional Budget Office, November 2012. .For example, RMDs for retirees who turned 70 ½ in 2019 would have been based on the value of their retirement accounts on December 31, 201At that time the Dow was 28,462 compared to 24,101 on April 1, 2020, when their RMD was due. However, the CARES Act waiver applies to this group as well as people like you who turn 70 ½ in 2020. .In our meetings this week we were pleased to learn that the members of Congress whose offices we visited plan on once again co-sponsoring the Notch bill. We also were very encourages to learn that there is a new bill that would repeal the Windfall Elimination Provision that has the best chance in years of moving out of committee and forward to the full House of Representatives for a vote. .In the meantime, the chairman of the influential Senate Finance Committee Chuck Grassley (R-Iowa) will re-introduce a drug pricing package (S. 2543) he assembled with the ranking member of his committee, Ron Wyden (D-Ore.), and soon call on Senate leaders to allow debate on the measure, a Grassley spokesman announced last week. .You should still watch out for symptoms of COVID-19, especially if you've been around someone who is sick. If you have symptoms of COVID-19, you should get tested and stay home and away from others. .Because of the coronavirus, however, the BLS has been unable to gather much of the information from those two categories. Therefore, although they do not use the word, they are going to guess at those costs. It may be an educated guess, but it is still a guess, nonetheless. .Dental Coverage Under Medicare