News

  • Its Tax Season That Means More Scams Aimed At Older Taxpayers

    Other priorities in 2015 will include advocating for a more fair and accurate Social Security cost-of-living adjustment, monitoring the continued implementation of the Affordable Care Act, and protecting Medicare Advantage enrollees from harsh and unforeseen benefit cuts. .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. .It remains to be seen how the CR debate will unfold in the coming weeks, but TSCL will monitor it closely since another government shutdown could have serious effects on Social Security and Medicare beneficiaries. For updates as the situation develops, visit the Legislative News section of our website. … Continued

  • Legislative Update Week Ending July 14 2017

    The 2017 COLA will likely be 0.3 percent says Mary Johnson, a Social Security policy analyst and researcher for TSCL. "And there's a chance that lower gas prices will drag the COLA down even further, to 0.2 percent," Johnson adds. Either way, the 2017 COLA is expected to raise Social Security benefits by only a few dollars, and any increase will be completely offset by stiff increases in the Medicare Part B premium for most people 65 and over. .Why does decision making have to be so hard? How much time is the right amount to spend on thinking things over? Can you even name anyone who never made a bad decision? We can't either. .The subcommittee's bill would repeal the formula and replace it with an enhanced fee-for-service system, while also allowing doctors to opt-out and participate in alternative payment models that emphasize quality. The bill was overwhelmingly approved by a voice vote on Tuesday, but much work remains to be done. Lawmakers have not yet determined how they will offset the full cost of the bill, although it does currently include funding for some provisions by authorizing transfers from the Medicare Part B Trust Fund. … Continued

At Wednesday's hearing, many of the Subcommittee members expressed their support for this model of paid family leave, while others spoke about the detrimental impact it would have on the Social Security program. Senator Sherrod Brown (OH) – Ranking Member of the Subcommittee – said in his opening statement: "Using your retirement security to fund paid time off from work when you have a child is not paid family leave at all – it's robbing from your retirement to be able to care for loved ones now … I want to work together, but a plan that's a first step toward privatizing Social Security – the bedrock of our social safety net – is no place to start." .Rapidly climbing prices for consumer goods and services are making financial choices for older adults especially challenging this year. But eventually, these higher prices might mean a higher Social Security cost of living adjustment (COLA) for next year. In the meantime, older consumers are struggling to figure out how to pay for. Buying Power of Social Security Benefits Wiped Out by Soaring Inflation An abrupt jump in inflation in February and March of this year wiped out a short-lived improvement in the buying power of Social Security benefits in 2020, according to TSCL's latest study on rising senior costs. The study, which compares the growth in the Social Security cost of living adjustments (COLA)s with increases in the. Are We Experiencing the Return of Inflation? , editor .Candidates campaign for office saying they don't support cutting Social Security benefits of current retirees, or those close to retirement. Yet the two recently - enacted changes went into effect almost immediately after passage. People who are under the age of 66 by the end of April 2016 may no longer use file and suspend, and those who were under the age of 62 by the end of 2015 will no longer be able to use restricted applications for spousal benefits. .While the House of Representatives has passed legislation (H.R. 1868) to stop those cuts, the Senate has been a question mark. .In the final weeks of the 111th Congress, TSCL will continue working to prevent cuts to Social Security benefits that are already insufficient for too many of our nation's seniors. .My sister's son-in-law lost his job several years ago, and not long after filed for disability. My sister says that after a recent tornado, he made "good" money cleaning up storm damage. I thought disability rules disqualified people from benefits if they work. Has this changed? .The Social Security Administration maintains an "earnings suspense file" which tracks wages sent in by employers, for earnings that cannot be posted to individual workers' records because there is no match for the name and Social Security number. The Congressional Research Service reports that wages represented in the earnings suspense file currently amount to approximately 0 billion. According to Social Security Administration Inspector Patrick P. O'Carroll, "We believe the chief cause of wage items being posted to the earnings suspense file instead of an individual's earning record is unauthorized work by noncitizens." .According to the results, TSCL's members and supporters would prefer to see a more permanent solution. Forty-eight percent of respondents said the DI program should tighten its eligibility requirements and conduct more continuing disability reviews to reduce fraud, and 51 percent said high wage earners should be required to pay Social Security taxes on all of their incomes. .One-out-of-five people who participated in TSCL Senior Survey spend more than 0.00 per month out-of-pocket on prescription drugs. That's an enormous amount, considering the average Social Security benefit is just ,460.00 per month. But even if you only take generics, or your Medicare drug or health plan premium goes down, this does not mean that your 2020 Medicare plan's drug coverage costs will also decrease. Your Medicare drug plan's prescription coverage – including which drugs are covered by your plan, and the cost, usually changes every year.