News

  • Press Release 07072020

    The Social Security Expansion Act (H.R. 1114) gained one new cosponsor in Congressman Donald Payne (NJ-10), bringing the new cosponsor total up to thirty-one. If signed into law, H.R. 1114 would enhance Social Security benefits by basing COLAs on the CPI-E, increasing monthly checks by around per month, improving the Special Minimum Benefit, applying the payroll tax to income above 0,000, and applying a 6.2% tax on investment income for wealthy individuals. .According to consumer price index data through August, ten of the biggest price jumps for Social Security recipients over the past 12 months are illustrated in the following chart: .A loop-hole in current Social Security law could allow millions of Mexican workers and their dependents to eventually collect Social Security benefits for earnings while working under fraudulent, or non-work-authorized, Social Security numbers. … Continued

  • Over 65 Prevent Big Medicare Penalty Costs Sign Up Now During Annual General Enrollment Period

    Protection of the Social Security Trust Fund – Ensuring that the program's assets are locked out of the general budget. .This week, action remained slow on Capitol Hill as the month-long August recess continued. . Check to see if Eliquis is covered by your drug plan and the cost sharing for the tier in which it is listed. Many drug plans have five tiers covering preferred generics, generics, preferred brands, non-preferred brands and specialty drugs. Check to see where Eliquis fits in on these tiers (probably preferred or non-preferred brand). It's not uncommon for insurers to move a drug from preferred brand to non-preferred brand status, causing you to pay more out-of-pocket. For example, your plan in 2019 may have charged a co-pay of for preferred brands, but if Eliquis was moved into a non-preferred tier in 2020 you might have to pay 50% co-insurance or about 5.00. … Continued

This week, the Obama administration released its much-anticipated 2013 budget proposal, and the House-Senate conference committee compromised on a deal to prevent payment cuts to Medicare physicians and extend the payroll tax holiday. In addition, four new cosponsors signed on to the Social Security Fairness Act. .Key Bills Gain Support in the House and Senate .PLEASE be careful – and remember, there is NO vaccine, cure, or proven treatment for the coronavirus at this time. Do not waste your money on some "medicine" that supposedly will treat or prevent you from getting sick. .In October, the Social Security Administration announced that benefits will increase by 2.8 percent in January 2019, but approximately 2 million seniors with the lowest Social Security benefits will not see any net increase in their monthly checks after Medicare Part B premiums are automatically deducted. It will be the fourth year in a row that this group will not see a boost in net benefits due to Part B premiums, which are rising several times faster than Social Security COLAs. .Some Members of Congress are calling for Congress to strike a deficit reduction deal of their own. Although gridlock may occur and would hardly be surprising, TSCL remains adamantly opposed to a key proposal that would change the cost-of-living adjustment (COLA) calculation. The proposal, which would affect not only future retirees but ALL retirees, would switch to a more slowly-growing consumer price index known as the "chained" CPI to calculate the annual COLA. This proposal that would reduce the lifetime Social Security income of seniors by potentially tens of thousands of dollars is one of the few areas of agreement between both Democrat and Republican negotiators. TSCL also strongly opposes proposals that would increase what seniors have to pay for the Medicare benefits. .Increase income. On average, older Americans get about 34% of their total income from Social Security; 33% from earnings; 11% from personal assets such as money in IRAs, 401(k) plans and taxable accounts, and 22% from pensions. To boost income, they could invest more aggressively in higher-yielding and perhaps more risky assets, such as long-term bonds and high-dividend-paying stocks; go back to work; or if they are still working, take on more hours. .Since you were born in 1959, your full retirement age is 66 and 10 months. Starting benefits prior to your full retirement age will lower your monthly payments. If you were to retire at age 62 instead of age 66 and 10 months, a ,000 per month benefit would be permanently reduced to ,416— a reduction of about 29.17%. The longer you delay starting your benefit, the more you will receive. But age 66 and 10 months is NOT your maximum benefit age. Your maximum benefit comes at age 70, no matter when you were born. .The SNAP Simplification for the Elderly Act will build upon the success of the USDA's Elderly Simplified Application Project by extending the SNAP recertification periods for households from 12 to 36 months if all adult household members are elderly, disabled or enrolled in Medicaid or the Medicare Savings Program. .The following Members of Congress, among others, will hold town halls this weekend: Sens. Jim Risch (ID), Pat Roberts (KS), Deb Fischer (NE), Tom Coburn (OK), and Charles Grassley (IA), and Reps. Mark Amodei (NV-2), Lou Barletta (PA-11), Dan Benishek (MI-1), Kathy Castor (FL-14), Tim Huelskamp (KS-1), Bill Johnson (OH-6), Derek Kilmer (WA-6), Mark Meadows (NC-11), Markwayne Mullin (OK-2), Kristi Noem (SD), Todd Rokita (IN-4), Keith Rothfus (PA-12), Rob Woodall (GA-7), Joe Barton (TX-6), Julia Brownley (CA-26), Mike Coffman (CO-6), Jim Gerlach (PA-6), Dennis Heck (WA-10), Beto O'Rourke (TX-16), and Mark Takano (CA-41).