New legislation before the House and Senate would repeal the Windfall Elimination Provision and the Government Pension Offset so that public servants receive the Social Security benefits they have earned and deserve. Will you cosponsor the Social Security Fairness Act when you return to Washington on Monday?.The Senior Citizens League is hopeful that Congress will pass responsible reforms to the Social Security and Medicare programs as soon as possible to strengthen benefits and restore the solvency of the Trust Funds. For more information about legislation that has been endorsed by The Senior Citizens League, visit the Bill Tracking section of our website..In 2012, the GPO reduced the Social Security benefits of nearly 600,000 surviving spouses, who also collect a government pensions, by nearly two-thirds. Nine out of 10 public employees affected by the GPO lost their entire spousal benefit, even though their spouse paid Social Security taxes..While most retirees tend to want to hold onto their current supplement or health plan, concern about rising costs is universal. TSCL's 2019 Senior Survey found that more than 75% of survey respondents favor the establishment of a cap on the maximum percentage of profit that private insurers may earn..Last year the Senate was a bigger problem when dealing with passing legislation but there still may be hope this year for a bi-partisan bill authored by Senators Ron Wyden and Chuck Grassley. "The bill would cap seniors' drug costs and penalize drugmakers for raising prices too fast - a provision that many Republicans have likened to price controls. It would save the government a projected billion over a decade, far less than the 0 billion-plus under the House negotiation bill," according to Politico..But no matter how legislation would be structured, Canadian health experts are warning that the plan could accelerate drug shortages in Canada. Attempting to fill the U.S. consumers' needs with pharmaceuticals from our smaller northern neighbor could not only drain supplies in Canada, but also drive up prices in that government-run health system, opponents say..In a letter of support to Representative Roybal-Allard, Art Cooper Chairman of The Senior Citizens League's Board of Trustees wrote: "Our supporters nationwide question why the Medicare program has not yet been expanded to include coverage of essential hearing, vision, and dental services, which many employers provide during working years. As such, The Senior Citizens League lends its enthusiastic support to the Seniors Have Eyes, Ears, and Teeth Act, a bill that we believe would go a long way in ensuring the retirement security seniors have earned and deserve.".The annual COLA is tied to the rise in inflation as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers, maintained by the U.S. Bureau of Labor Statistics. Inflation has been at record lows in most of the seven years since 2009, averaging just 1.2 percent. In the decade prior to 2009, COLAs averaged more than 3 percent. And although low inflation can be helpful to younger wage earners and workers, "it's not always a boon for people receiving Social Security benefits," says Ed Cates, Chairman of TSCL..Retirement accounts allow your savings to grow tax-deferred, but the rules change when you turn age 70 ½. At 70 ½, traditional IRAs require the owner to take required minimum withdrawals and you can't contribute any more savings. But you can still continue to put money into other types of retirement accounts, including Roth IRAs and some types of 401s, as long as you have earnings from jobs.

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TSCL believes that the Medicare prescription drug benefit law is flawed, and will be carefully monitoring the effects of both the short-term Medicare drug cards, and the Medicare Drug Benefit plan in Medicare Part D as it traverses through the donut hole for many seniors. TSCL considers it necessary to compile feedback on the measure of success or failure of the program and its donut hole phase..What are the 10 fastest growing costs for older Social Security recipients? See the list here.How much will the New Year's 1.5% cost-of-living adjustment increase your Social Security benefits? How much did your household budget increase over the past 12 months? Your response is important because the only thing standing between seniors and COLA cuts right now is public pressure on Congress and the White House. Major budget negotiations are underway as the nation faces another government shut-down on January 15th, hitting the debt limit again the first week in February. Members of Congress need to hear how their actions would impact real people like you. … Continued

Gary Claxton

This cost shift hits includes retirees with the lowest incomes. Specifically it hits their state Medicaid budgets that pay Part B premiums for low-income Medicare beneficiaries - about 19% of all Medicare recipients. If Medicare Part B premiums go up by more than .40 per month in 2021, that would add yet another fiscal shock to state budgets that are already strained to the limit due to the coronavirus pandemic..President Trump was threatening to veto it because it directs the Defense Department to rename military posts and bases that are named for Civil War Confederate generals. Trump also demanded that a provision that would affect social media companies such as Facebook and Twitter be included in the bill..Medicare Part B premiums are getting set to make one of the biggest jumps in 14 years, according to new analysis from The Senior Citizens League. While the Social Security cost-of-living adjustment will increase benefits by 1.6 percent in 2020, Medicare Part B premiums are climbing by 6.7 percent, "more than four times faster than the COLA," says Medicare and Social Security policy analyst, Mary Johnson. … Continued

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