On the heels of Greenspan's recent statement, President Obama's Fiscal Commission is due to release itsplan to solve the growing U.S. deficit by December 1st of this year. The Commission is eyeing major cuts to Social Security - including cost-of-living adjustments cuts that would affect 53 million current beneficiaries..The Centers for Medicare and Medicaid Services recently announced that the standard Medicare Part B premium will be 8.50 in 2021, an increase of .90 per month from 4.60 in 2020. That increase, which I earlier feared would be considerably more, was restricted by legislation enacted last fall. But even with legislation.TSCL Plays Role in Preventing Part B Premium Spike in 2021 The annual Social Security cost of living adjustment is just 1.3% this year, making it one of the lowest ever paid. But the standard monthly Medicare Part B premium increased by a modest .90, from 4.60 to 8.50, much less than TSCL initially feared it would be. TSCL's efforts to inform Congress and the.New Legislation Limits Stiff Increase Expected for 2021 Medicare Part B Premium With Medicare outlays spiraling due to outlays for COVID-19, Congress recently passed legislation to head off an expected Part B premium spike, by restricting the increase for 202TSCL has been warning about the potential of a low cost of living adjustment and spiking Medicare premiums since July of this year..Majority Of Retirees Would Raid Savings Or Borrow For Financial Emergencies Says New Poll By The Senior Citizens League.Thank You Anyway, I'll Just Keep Working A Little Longer.But the promise of Medicare is in jeopardy today because some in Washington have misguided priorities. A proposal put forth by Congressman Paul Ryan that I was proud to vote against earlier this year, would end the Medicare guarantee by turning the traditional program into a handout for private insurance companies..Senate Appropriators Approve Funding Bill.This week, the Beneficiary Enrollment Notification and Eligibility Simplification Act gained three new cosponsors in Representatives Anna Eshoo, Zoe Lofgren, and Earl Blumenauer, bringing the total up to thirteen. If signed into law, H.R. 2575 would simplify the Medicare enrollment process and increase efforts to educate those nearing eligibility about the program and the application process..Administration Making Efforts To Rein In Medicare Fraud.Will Social Security be adjusted to provide greater financial security, especially for lower-income beneficiaries?

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In March of this year, after nearly a year of debate in Congress, President Obama signed the Patient Protection and Affordable Care Act into law. As the initial media coverage and analysis of the new law reached a fever pitch, there were many news reports on a certain provision of the law that relates to prescription drug coverage retirees receive through their former employers..A copy of the statement from your mother's drug plan through October 2011 showing how much was spent year-to-date and how much she had left of her initial coverage limit. This will document that she had not hit the doughnut hole..Legislation is currently under consideration in the House, The Social Security 2100 Act, that would adjust the income thresholds that subject Social Security benefits to taxation, from ,000 to ,000 for single filers and from ,000 to 0,000 for joint filers. According to a survey by The Senior Citizens League, 55 percent of survey participants support lifting the threshold for taxation of Social Security benefits to those levels, and only 12 percent oppose. The bill would pay for this as well as providing a boost in Social Security benefits and a more generous cost-of-living adjustment, by increasing the amount of wages subject to payroll taxes and by very gradually increasing the tax rate that workers and employers pay. … Continued

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But the transitional formula failed, and in most cases, the new benefit formula abruptly kicked in. Extreme inflation that climbed to 14.3% in 1980 magnified the disparities. When the benefits are illustrated on a bar graph, they show a deep "V" Notch..This week, TSCL announced its support for Rep. Dana Rohrabacher's No Social Security for Illegal Immigrants Act. The bill, if signed into law, would prohibit unauthorized workers from receiving Social Security benefits based on work done while in the country illegally, using stolen, fake, or fraudulent Social Security numbers..Once again this week the impeachment of President Trump dominated the news involving Congress and Washington in general. Even so, work continued on a host of other issues, many of which are of great importance to seniors. … Continued

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