This week, members of the bicameral budget conference seemed to hit an impasse, and The Senior Citizens League announced its support for the Social Security and Medicare Lock-Box Act. In addition, two key bills gained cosponsors this week..We want to assure you that we will try to report the facts as we understand them and keep elective politics out of it..Increasing the frequency of Continuing Disability Reviews. Additional funding for CDRs, which are conducted periodically to determine if enrollees still qualify for DI benefits, would return significant savings to the program according to recent projections..TSCL enthusiastically supports the PRIME Act and the Social Security Fairness Act, and we were pleased to see support grow for both of them this week..Apply for Medicare "Extra Help": Medicare Extra Help is a program that helps to pay for Part D premiums, annual deductibles, and co-payments for your medications. You apply online using the Social Security Administration website. For more information see this pdf from the Social Security Administration..Federal law prohibits the two Social Security trust funds from borrowing or transferring payroll taxes from one program to the other without Congressional action. While such action has been taken 11 times in the past to temporarily avert a Social Security funding shortfall, a TSCL poll conducted in July of last year found that less than 1 percent of participants say that shifting revenues from one trust fund to another would be the best way to fix the program..In late December of last year, the federal government reluctantly turned over to TSCL the first public copy of the controversial Totalization Agreement with Mexico after TSCL was forced to file two federal lawsuits under the Freedom of Information Act to gain access to the documents. The agreement has not yet been signed by the President or sent to Congress for final review..By Representative Rodney Davis.Members of Congress on both sides of the aisle agree that the current payment formula the sustainable growth rate is fundamentally flawed. TSCL was disappointed when the Affordable Care Act did not address the issue in 2010, but many believe that the lame-duck session following the November election will provide a prime opportunity for Congress to finally repeal the faulty formula. The replacement options are numerous, however, and many of them are contentious. Just three months away, it still remains unclear which solution lawmakers could agree upon.
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In the meantime, The Senior Citizens League supports legislation that would boost Social Security benefits and tie the annual COLA to an index that better reflects the expenditures of retirees, such as the Consumer Price Index for the Elderly. To learn more visit..Late enrollment penalties are not like one-time tax penalties. Under the late enrollment penalty your monthly Part B premium may go up 10% for each full 12-month period that you delayed enrollment, and you pay the higher premiums for the rest of the time you receive Medicare..A senior with the average Social Security benefit in 2000 received 6 per month, a figure that rose to ,129.80 by 201However, that senior would require a Social Security benefit of ,477.00 per month in 2013 just to maintain his or her 2000 buying power. … Continued
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Republicans as a whole did not object to the renaming provision and they agreed with Democrats that the NDAA was not the place for the social media provision that Trump wants. As a result, both houses of Congress passed the NDAA last week with majorities that are large enough to override Trump's threatened veto..Help! Social Security Estimates That I Earned 0,320 And Stopped My Benefits!.These three-decade-old policies have been proven to be harmful and unhelpful, which is why I introduced H.R. 141, the Social Security Fairness Act of 2019, which will eliminate these counterproductive policies. Nationwide, nearly 1.5 million people are affected by the WEP, meaning those who receive a public pension from a job not covered by Social Security see those benefits reduced. For example, a teacher who spends his or her summers working a second job, or a first responder who leaves the force after years of service, but is not ready to retire, can see their benefits reduced by as much as 40 percent. … Continued