News

  • How Much Less Do Notch Babies Receive

    Congressman Bill Pascrell (D- N.J.) was very blunt when he said that all the talk about fixing Social Security is just platitudes. While both sides of the aisle know it needs to be fixed and say they want to fix it, nothing is really being done. .Plan for health changes as you age. What are the chances of developing a chronic condition, like asthma, diabetes or high blood pressure later in life? It's a good idea to set aside a portion of your retirement savings for healthcare emergencies and health changes as you age. One way to figure this is by using the out-of-pocket maximum limits on your health plan and Part D coverage. For example, having an emergency healthcare account of at least ,450 set aside for a senior in reasonable health in 2013 is a smart idea. If you are in a health plan that has a maximum annual out-of-pocket limit, you will want to try to have at least that much set aside every year (that may be about ,700 in 2013, for example). Your Part D out-of-pocket maximum in 2013 is ,750. .Last week we learned that the top attorney in the Department of Health and Human Services (HHS), warned department officials that the program is potentially illegal because it could be in violation of federal election laws. … Continued

  • Legislative Update For Week Ending May 31 2019

    New coronavirus legislation in the works .Mary Johnson .We want to reiterate here that TSCL is a non-partisan organization and we work with any member of Congress and both political parties when they support legislation that we believe is in the best interest of America's seniors. … Continued

Scientists do not know why vaccinations might reduce the risk of Alzheimer's. But previous research has hinted at a connection. And there are several potential explanations. .This week, TSCL's legislative team, which is led by former Congressman David Funderburk and Mrs. Betty Funderburk, met with several Members of Congress and their top staff to discuss issues of critical importance to seniors. The following bills, among others, were discussed this week: the Consumer Price Index for Elderly Consumers (CPI-E) Act (H.R. 1030), the CPI for Seniors Act (H.R. 2154), the Social Security Fairness Act (H.R. 1795), the Notch Fairness Act (H.R. 155), the No Social Security for Illegal Immigrants Act (H.R. 2745), and the Medicare Physician Payment Innovation Act (H.R. 574). .War Savings to Fund "Doc Fix" Extension? .The billion could be financed without taking money from the Social Security Trust Fund. One way is through reduction of pork barrel spending and government waste. In the fiscal year 2001 budget alone, pork "watch-dog" Senator John McCain (AZ-R) estimated that the government would spend a record billion in pork-barrel projects. .Is Social Security A Ponzi Scheme? How Much In Social Security Income Can I Expect To Get? .Last - don't let all the political spin about Social Security scare you. The program is not going broke. Social Security does face a long-term financial challenge. Even when the Social Security Trust Fund becomes exhausted there would still be sufficient assets from payroll taxes to pay about 75 percent of promised benefits. Although that isn't a fair or acceptable outcome — a far more likely one — Congress will take action to correct the imbalance. .Fraudulent Use of Social Security Numbers Is Not Penalized .Here's an example of how it might work: Let's say your husband was entitled to a benefit of ,400 or ,450 per month. Since he was at his full retirement age there are no reductions. You learn that your full retirement age benefit at age 66 would be about ,195, and by age 70 it grows to about ,640. In this case taking a reduced widow's benefit now and letting your own benefit grow due to the delayed retirement credit may potentially work as long as your earnings don't completely offset your benefits. .The Social Security Administration recently called a halt to a controversial effort to collect debts that were more than 10 years old. For the past three years the government has confiscated tax refunds of hundreds of thousands of taxpayers, claiming an overpayment of Social Security benefits, even though it had little or no proof, and few exact details, according to media reports. In a letter to Treasury Secretary Jack Lew, Senator Charles E. Grassley (IA) said that government agencies were apparently "not properly notifying individuals or allowing them to inspect records of the debt they supposedly owe, which are violations of the law."