News

If he or a member of his leadership team in the Senate announce their priorities for health care in the Senate The Senior Citizens League Legislative Team will let you know..Around 20% of Medicare beneficiaries are also enrolled in Medicaid and receive help from the program to cover long-term nursing home stays. The BCRA would cut Medicaid by more than 0 billion and cap federal spending on the program. How will you ensure access to nursing home care, and can you guarantee that older Americans will not be forced out of skilled nursing facilities due to funding cuts?.If signed into law, the Consumer Price Index for Elderly Consumers Act would amend the Social Security Act with regard to the annual cost-of-living-adjustment Social Security beneficiaries receive. Currently, the COLA is based upon the spending patterns of young, urban workers as calculated by the Bureau of Labor Statistics the CPI for Urban Wage Earners. This legislation would calculate the COLA based on the spending patterns of seniors, or by using the BLS tracked CPI-E..Social Security provides at least half the income for 65 percent of seniors..TSCL is urging older Americans to fight back. "We encourage you to send email, postcards, or call Members of Congress to let them know that COLA cuts are not to be used to finance a border wall with Mexico, or as a bargaining chip for reducing the federal debt," says TSCL Executive Director, Shannon Benton..The most recent report is that the Trump administration expects to begin sending 0 prescription drug discount cards to seniors by Jan. 1..The piece of the law under discussion relates to the way the government subsidizes companies that provide prescription drug coverage to retirees. When Congress created Medicare Part D, it also created an incentive for employers to continue providing prescription drug coverage to their retirees. Under current law, the government subsidizes 28% of the costs that employers incur from providing prescription drug coverage to retirees who are at least 65 and Medicare eligible. The companies that receive the subsidy are then allowed to deduct 100% of the costs of providing coverage to their retirees from their taxes - this deduction also includes the 28% subsidy that the government provides. The new healthcare law keeps the 28% subsidy intact but starting in 2013 it removes the ability of companies in computing their taxes to deduct the subsidy they receive from the government..Lower than expected payroll tax revenues. Payroll taxes account for roughly 89% of Social Security's financing. But in 2020, businesses nationwide temporarily shuttered due to emergency stay at home orders. In addition, widespread layoffs, reductions in work hours, and job losses resulted in the collection of fewer payroll tax revenues. Emergency legislation that was passed last year allowed employers to even temporarily defer payment of Social Security payroll taxes until December of 2022 to help companies shore up cash flow and stay in business. While the job market is getting back on its feet again in 2021, unemployment is still higher than it was prior to the pandemic, and payroll tax revenue has not yet returned to pre-pandemic levels..The Social Security Trustees forecast that the disability trust fund will be completely exhausted by 201What do you feel should be done to ensure that the disabled continue to receive their benefits?