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We are closely watching how the foreign drug index would be structured and evaluating how prices would be adjusted. We are highly concerned that a greater portion of the high cost of these drugs that are administered in doctors offices and clinics could wind up getting shifted to Medicare patients either in the form of higher co-pays and co-insurance, or higher premiums..TSCL surveys have found that there is no public support for benefit cuts. On the other hand, 79% support eliminating the taxable maximum cap on earnings so that the highest paid workers pay Social Security taxes on all of their income, not just part of it as they do today..Nonetheless, TSCL will not let the Senate forget that the need to pass legislation to help bring down the prices of prescription drugs must not be set aside because of the coronavirus threat. Many, many seniors are at risk because they can't afford the drugs they need, and the situation must be dealt with now..The Notch Fairness Act, H.R. 615, introduced by Representative Ralph Hall, would allow Notch Babies their choice of a higher monthly benefit or a lump-sum of ,000 payable in four annual installments. The legislation would allow eligible survivors of Notch Babies, persons who receive Social Security benefits based on the account of a Notch Baby, to receive up to 100% of the benefit payable to the deceased..By Rick Delaney, Chairman of the Board."Caught Up In A Medicare Drug Fraud," Tracy Weber and Charles Ornstein, ProPublica, December 31, 2013..New IRS medical expense rules for people age 65 and over reduce the amount of medical expenses you can deduct for the 2017 tax year. In 2017, you or - you and your spouse - can deduct the amount of unreimbursed allowable medical expenses that is more than 10% of your adjusted gross income. Last year people over the age of 65 were allowed to deduct medical expenses that were over 7.5% of the AGI..The report further stated that "Dental care was the most commonly postponed service, with 43% having delayed care. Thirty-six percent put off checkups and treatment for ongoing conditions, while 32% delayed diagnostic screenings..them completed about 30 days BEFORE the annual fall Medicare Part D Open

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Cutting Benefits for Current Retirees or Any Americans Over Age 50: Many current retirees are already struggling financially, and people need adequate time to plan and prepare for changes to something as important as Social Security..The federal government negotiates prescription drug prices for Medicaid and for veterans, but it is not allowed to negotiate lower prices for Medicare beneficiaries. Do you support this policy?.President Trump is insisting on another payroll tax cut for any economic stimulus package. But the proposal is unlikely to provide financial help for unemployed workers who need the money, and would worsen existing financing problems for Social Security, Medicare, and program beneficiaries, warns The Senior Citizens League. "Today's retirees - more than 61.2 million people - depend on Social Security and Medicare payroll tax revenues for their Social Security and Medicare benefits," says Mary Johnson, a Social Security and Medicare policy analyst. "Their number one concern is that down the line, benefits will be permanently cut to pay for these 'temporary' tax cuts," she says. … Continued

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Firstly, the Senior Security Act will create a Senior Investor Taskforce at the SEC that will exclusively focus on how seniors are being targeted by fraudsters and those who seek to take financial advantage of them. This new Taskforce will identify challenges that senior investors encounter and will identify areas within the SEC or other organizations where senior investors would benefit from changes. The Senior Investor Taskforce will also coordinate with other offices within the Commission and the Elder Justice Coordinating Council. When appropriate, the Taskforce will consult state securities and law enforcement and state insurance regulators to ensure we're all doing as much as we can, at every level of government, to stop this..Social Security provides at least half the income for 65 percent of seniors..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. … Continued