Page 8 - July 2020 Issue

SENIOR ADVOCATE: Updates from The Senior Citizens League

President ‘once more’ calls for that pays disability benefits is projected to The Social Security trustees now way of calculating what the COLA should
be each year’.
Payroll Tax Cut last longer until 2065. But that fund is much anticipate that when the old age and * * * *
smaller and even if money were diverted
survivor fund runs out of money in 2034,
President Trump announced he will from it to the old age fund, it would only it will be able to pay only 76% of the When Your Doctor no longer takes
once again ask Congress to pass more last for an additional year. retirement and survivor benefits Medicare
economic stimulus legislation that he The estimated depletion date for the otherwise due to recipients. Seniors know how important Medicare
insists must include a payroll tax cut. In Medicare Part A trust fund is 2026. At that Can you afford a 24% cut in your Social is to their well-being, both health-wise
other words, he wants to cut the amount time, program income will be sufficient to Security check? Can you afford to pay and financially. But many doctors have
of money that is paid into Social pay 90% of total scheduled benefits. The even more than you do now for your long complained that Medicare does not
Security and Medicare by today’s Part B trust fund is financed differently, health care after you get a 24% cut in pay them enough. And until the
workers - the money that funds the with premiums and general revenue your Social Security? coronavirus came along, cuts in the
checks sent out to those who receive funding changing each year to reflect Again, those projections were made reimbursement rates paid to doctors
payments and pays for the health care projected spending, so Part B is expected to prior to the effects of the pandemic. You were scheduled to take place.
of seniors each month. be adequately financed ‘for the next 10 can be sure when this is all over, the While a multitude of new mandates
He had demanded a payroll tax cut years and beyond’. projections will be much worse. and burdensome administrative
previously this year. Thankfully, However, those projections were made That is why TSCL so strongly opposes requirements have been layered on over
Congress did not go along with him prior to the severe economic downturn the President’s proposal. True, it would the past several years, payments to
when it passed the previous legislation caused by the pandemic. Those funds will be a boost for those now employed. But physicians have not only failed to keep
meant to deal with the coronavirus be affected both by the amount each it will do nothing for those who are pace with inflation, they have, in some
pandemic and the ailing economy that program spends this year, and by the unemployed, and those are the people cases, decreased in real terms.
resulted. lower-than-projected revenue because of who need the most help right now. More than two-thirds (67%) of medical
His renewed call for the cut comes the depression-level unemployment. Those There are other ways to aid them, as well practices report that 2019 Medicare
only a few weeks after the annual factors will not be determined until the end as to help the currently employed. payments will not cover the cost of
reports regarding the financial stability of this year. And until a vaccine or an As we all know, seniors are being hit delivering care to beneficiaries according
of the Social Security and effective treatment is found, the the hardest by the coronavirus. To add to one poll.
Medicare programs were issued by improvement in the economic outlook even more insecurity and uncertainty to As a result, some doctors are opting
their respective boards of trustees. As remains very uncertain. the lives of seniors is just plain wrong. out of providing care to Medicare
we reported at the time, both programs President Trump pledged that he would We hope you will use these points patients.
are facing insolvency, albeit at different protect Social Security and Medicare when and contact your own Senators and TSCL Instead, some physicians are
times. he ran for president in 2016. He has will be letting Congressional leaders experimenting with converting their
The part of Social Security that pays repeated that pledge several times since. know of our opposition to a payroll tax practices to more lucrative payment
old age and survivor benefits is But to advocate for a payroll tax cut that cut and we will continue to advocate models, such as concierge medicine, in
projected to become insolvent in just 14 would bring both programs much closer to ‘both in opposition to any payroll tax cut, which patients pay a fee upfront to retain
years (2034). The Social Security fund insolvency is not in keeping with his and also for a fairer and more accurate the doctors.
pledge. Continued on page 14

8 July 2020