News

  • Drug Discount Cards

    For Medicare Advantage enrollees whose physicians are dropped, this means one of three things. They will either have to scramble to find a new doctor, pay more to see their out-of-network doctor, or switch to a Medicare Advantage plan with a better network of providers. Seniors who did not choose the third option last fall will have to wait until October – the start of Medicare's open enrollment period – to find a new plan. .The Social Security Administration calculates benefit withholdings based on the amount you report that you will earn for the year, and then will withhold all benefit payments for a certain period of months to cover excess earnings. For example, say you received a Social Security benefit payment of 0 per month in 2007 (,800 for the year). Let's say that during 2007 you worked and earned ,450 or ,490 over the earnings limit (,450 - ,960). Social Security would withhold ,745 in benefit payments covering slightly more than 6 months of your payments. .Passage of this new rule will allow the House to start conducting business on a larger scale than has been happening since the beginning of the coronavirus social distancing measures. … Continued

  • Immigration Proposals Would Add Billions In New Costs

    For most retirees the average Social Security benefit of ,100 is their main source of income. But the sluggish economy has made the federal budget deficit, including that of Social Security, balloon more rapidly than expected, according to a new report from the Congressional Budget Office (CBO). In 2010, for the first time since 1983, annual costs for Social Security exceed annual revenues, and that won't improve very much in coming years. Instead, it will become a persistent problem. .There is already reason to worry that our deliverance from the coronavirus will cost us plenty. BARDA paid AstraZeneca up to .2 billion toward development, production, and delivery of its candidate vaccine, in order to secure 300 million doses in October. Britain paid the equivalent of million to secure 100 million doses in September — one-fifth of what the United States government agreed to pay per dose. .New Medicare Enrollees in 201Because these people are new to Medicare they have not had an increase in the Part B premium. Thus, they must pay the full amount in 2017 when they sign up. … Continued

Members on both sides of the aisle seemed eager to tackle corporate tax reform, but there was a clear divide on the panel when it came to the Social Security payroll tax holiday. Co-chair Patty Murray (WA) and Senate Minority Whip Jon Kyl (AZ) both seemed skeptical about President Obama's recent proposal to cut the payroll tax in half for both employees and employers next year. When asked whether short-term tax cuts typically succeed in stimulating the economy, Barthold responded "yes" without hesitation. However, he said that such short-term cuts for employers generally do not lead to job creation. .Medicare open enrollment: It pays to get it right .Bottom line: Everyone in 2017 is expected to pay more for their Medicare Part B premiums. Any increase in benefits due to the COLA will be completely eaten up by the expected increase in Medicare Part B premiums. Nevertheless, for the majority of beneficiaries, the rising Part B premiums, at least, will not reduce benefits — but hold harmless protection only applies to Part B premiums. Any increase in the premiums of Medigap supplements, Part D, or Medicare Advantage plans would reduce one's Social Security income. In November, beneficiaries will be receiving notification through the mail of what they will pay for Medicare Part B in 2017. .In response to the OIG's findings, Representative Sam Johnson (TX-3) – Chair of the Ways and Means Social Security Subcommittee – said: "Overpayments are bad for everyone – they are bad for the beneficiary and they are bad for the taxpayer. With the disability program going broke next year, it is especially troubling that Social Security is failing to protect precious taxpayer dollars." .But among other things, if consumers can't find the cost of health care, the idea of the free market is impossible. .A Word of Warning .How Safe Are Electronic Social Security Benefits From Fraud? .As a nonpartisan grassroots organization, we make our policy decisions based on only one thing: what is best for senior citizens. .TSCL is hopeful that lawmakers will pass a stopgap measure before the October deadline, since a government shutdown could negatively impact Social Security and Medicare beneficiaries. We will keep a close eye on the evolving negotiations over the next two weeks, and we will post updates here in the Legislative News section of our website.