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Monday Holidays
Second, four new cosponsors signed on to the Social Security Fairness Act (S. 915, H.R. 1205), bringing the cosponsor total up to twenty-seven in the Senate and 190 in the House. The new cosponsors are: Senator Patty Murray (WA), Senator Tom Udall (NM), Representative Debbie Wasserman Schultz (FL-23), and Representative Vicky Hartzler (MO-4). If adopted, the Social Security Fairness Act would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two provisions that unfairly reduce the earned Social Security benefits of millions of teachers, police officers, and other state and local government employees each year. .Senate Group Proposes Medicare Phase-Out .In addition, the Secretary of Health and Human Services (HHS) is prohibited from negotiating directly with pharmaceutical companies on behalf of the more than 40 million Americans who get their prescription drug coverage from Medicare Part D. … Continued
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Legislative Update For Week Ending August 2 2013
The SSA and the AARP say, however, the Notch affects only those born during the five-year period of 1917 through 192Those born during that period were covered by a special transitional benefit formula, the purpose of which was to provide a 5-year phase-in for the new 1977 benefit formula. .Federal law requires that any reduction in payroll tax revenues going into the Social Security Trust Fund must be replaced dollar-for-dollar with general revenues from the U.S. Treasury. Consequently, a temporary extension of the payroll tax cut will have no effect on the Social Security Trust Fund. .This week, The Senior Citizens League was pleased to see support grow for six key bills that would strengthen the Social Security and Medicare programs. … Continued
In addition, two new cosponsors – Reps. Alan Grayson (FL-9) and Lee Terry (NE-2) – signed on to the Social Security Fairness Act (H.R. 1795). The cosponsor total is now up to one hundred and thirty-three. 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. .Sources: "Crackdown Proposed To Prevent Illegal Immigrants From Obtaining Medicare," Robert Pear, The New York Times, March 3, 201"Medicare Improperly Paid Providers Millions Of Dollars For Unlawfully Present Beneficiaries," Daniel R. Levinson, Department of Health and Human Services Office of Inspector General January 2013. .Low-income "dual eligibles" — Medicare beneficiaries whose incomes are so low that they are also eligible for Medicaid. Part B premiums are paid on their behalf by their state Medicaid program (about 19% of beneficiaries).[4] .This week, the Centers for Medicare and Medicaid Services (CMS) announced its preliminary 2015 payment rate changes for the Medicare Advantage (MA) program. In addition, The Senior Citizens League (TSCL) saw two key bills gain support. .TSCL is highly concerned that the projected decline in Social Security revenues, along with the expected .5 trillion drop in general revenues caused by recent tax cuts, will create growing pressures to cut federal spending on benefits. The most frequently discussed changes include raising the eligibility age for benefits, imposing means testing, and slowing the growth of the annual cost-of-living adjustment (COLA) by tying the annual boost to the more slowly-growing chained consumer price index. .I'm helping my brother who has cognitive problems. He's enrolled in a Humana Medicare Advantage plan that covers prescription drugs in addition to providing hospital and doctor benefits. The plan seems OK, but I'm annoyed by numerous (often weekly) phone calls from the plan asking for permission to send out a visiting nurse. They say the visit is provided at no charge to get his blood pressure, and a physical. That sounds good, but my brother doesn't want strangers coming to his home, and I'm getting suspicious. Is this request legitimate? .Benefit reductions due to your age. — Since you were born in 1952, your age for receiving full, unreduced Social Security benefits is 6That holds true for survivors benefits, as well as for your own retirement benefit. So assuming you start benefits in December at age 64, the amount you would receive for starting benefits before your full retirement age will be reduced — almost 10%. (When you start benefits early you get less but you theoretically receive them over a longer period of time.) But that's not the only reduction. .After receiving no cost-of-living adjustment (COLA) this year, Social Security beneficiaries will finally receive a raise effective January 1st. But the increase in benefits is so small, it will be the lowest payable COLA ever in the history of the program — raising a ,000 benefit by just .00. .For years, the age at which an individual could receive full, unreduced Social Security benefits was 6Since the passage of the 1983 amendments to the Social Security Act, the age has increased very gradually. The current full retirement age is 66 and it is slowly rising to 67 for people born after 195Benefits can be claimed as early as 62; however, doing so will result in a reduced benefit. For example, if someone was born in 1945 and claimed benefits at 62, their benefits were reduced by 25%. If someone who is born after 1959 collects benefits at 62, their benefits will be reduced by 30%. Some economists have proposed increasing the early retirement age, currently age 62, as well as the full retirement age.