Stay Informed and Sign up for the TSCL Newsletter.The Velcro effect of anchoring can influence far more consequential decisions, in ways we may not even realize. Consider the process of determining the "right" retirement age:.Social Security provides an essential foundation to American's retirement plans, but it simply was never designed to be the sole source of retirement income. Social Security replaces about 40% percent of earnings of the typical retiree. TSCL believes that today's retirement crisis calls for more adequate, not reduced, benefits..In our analysis, it appears that this new program adds layers of complexity and apparently will drive up the overall costs of everyone enrolled in the Part D plans that participate in this..TSCL is pleased that after more than a decade, lawmakers have finally passed legislation to repeal and replace the SGR once and for all. The SGR has not worked as it was intended to since 2003, and seventeen times it has called for steep physician pay cuts, threatening access to quality medical care for seniors. We are hopeful that the new system will bring increased stability to the Medicare program..Sen. Mark Begich introduced S. 308 on February 13, 201It has since been referred to the Committee on Finance..Despite the slowing of the CPI, earlier this year, Medicare actuaries estimated that the base Part B premium paid by most seniors will climb about 8%, from .90 per month to 9.10, starting next January..In a recent Senate Special Committee on Aging hearing, U.S. Senator Claire McCaskill questioned medical and pharmaceutical industry leaders about the financial relationship between physicians and drug companies. Pharmaceutical companies currently spend billions of dollars annually 90 percent of their marketing program on gifts, lunches, drug samples, and sponsorships of education programs for doctors without any form of public disclosure, leading many to question whether economic incentives provided by the industry cloud physicians' judgment and put profits ahead of patients..Just hours after the trustees released their annual reports on Wednesday, members of the House Ways and Means Social Security Subcommittee met with Chief Actuary Stephen Goss to discuss the findings. Many of those present at the hearing expressed their commitment to addressing the program's funding shortfall. Chairman Sam Johnson said, "The longer we wait, the tougher it will get to fix Social Security. So the sooner we act the better." Chief Actuary Goss agreed, saying: "The trustees have consistently advised that enacting changes soon, even if with delayed effective dates, will allow more options to be considered, more advance warning for those affected, and a more gradual phase-in of adjustments."

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or the amount Medicare pays for the service. Do this before I have to nag you,.Perhaps the most ambitious effort on behalf of the Obama administration to fight Medicare fraud, abuse, and wasteful spending is the Medicare Shared Savings Program. The program will use networks of doctors, hospitals and other healthcare providers that form a partnership to provide increased accountability toward savings. MSSP is administered by CMS and will aim to bring together in partnerships up to 270 physicians, specialists, hospitals, and long-term care facilities across the country to participate in the program. If effective, the program will reduce healthcare costs by eliminating wasteful and inefficient practices that could save Medicare an estimated 0 million over the next four years..In 2017, the Social Security retirement and disability trust funds are due to receive an estimated billion in "interest payments" on those I.O.U.s. Because that money is not real cash, it must be borrowed, setting up a fractious debate in Congress - between those who say that benefits must be cut to make the program more sustainable, and others who say that Social Security payroll taxes are not equitable because the highest paid workers are not paying their fair share of taxes. … Continued

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TSCL believes that Social Security and Medicare remain at high risk of major changes that would cut benefits and continues to meet with Members of Congress and their staffs. The COLA is particularly vulnerable due to the size of the reduction in the deficit it would have - both by cutting federal spending and boosting tax revenue. The next election will be one of the most critical in years for both retirees and older Americans within ten years of retirement. TSCL urges you to ensure that you and your family are registered and ready to vote this November!.On Wednesday, Congressman John Garamendi introduced the Consumer Price Index for Elderly Consumers Act at a press conference with several advocates for older Americans, including TSCL. If adopted, his bill would base Social Security COLAs on a more accurate measure of inflation using the CPI-E. Currently, they are based on the way young workers spend their money using the Consumer Price Index for Urban Wage Earners..President Obama recently announced a series of Executive Actions to protect an estimated 4.9 million illegal immigrants from deportation. This month the U.S. Citizenship and Immigration Service is expected to start taking applications as hundreds of thousands of illegal immigrants begin to apply for deportation relief, work authorization, and Social Security numbers. … Continued

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