News
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No Cola Expected For Next Year
The term "Notch" refers to the disparity in Social Security benefits paid to people born from 1917 through 1926 and those paid to people born before and after them with similar work/earnings records. Many of those born during the Notch period feel they have not been treated fairly and are not receiving the benefits that Congress intended. On the other hand, the Social Security Administration (SSA), some government officials, and the AARP (formerly the American Association of Retired Persons) say that those born during the Notch period are treated fairly and receiving the benefits that Congress intended. The SSA and the AARP say that Social Security does not promise a specific amount of benefits, rather Social Security is designed to replace a certain percentage of pre-retirement earnings. Who is correct? .As our nation goes through the process of getting vaccinated for COVID-19 and getting our lives back on track, TSCL is working on a number of long-term issues that await Congressional attention. We expect policy makers in Congress will be turning their attention to the question of boosting benefits and restoring the long-term solvency of the Medicare and Social Security Trust Funds. .Citizenship is not a requirement to claim Social Security benefits. Undocumented immigrants who, at some point, receive even temporary work authorization, and who also receive a valid SSN, may eventually claim Social Security benefits if other qualifications are met, according to the Congressional Research Service. … Continued
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Notch Reform
Separately, the House Ways and Means Committee Means Committee approved the largest expansion of Medicare since the addition of drug benefits two decades ago. .First, four new cosponsors – Representative Darren Soto (FL-9), Representative Grace Napolitano (CA-32), Representative Lucille Roybal-Allard (CA-40), and Representative Grace Meng (NY-6) – signed on to the Nursing Home CARE Act (H.R. 4704), bringing the total up to nineteen. If adopted, the bill would protect Medicare and Medicaid beneficiaries by more quickly codifying emergency preparedness rules for nursing home facilities that receive funding from the federal government. .(Washington, DC) – Social Security recipients are likely to get an annual cost of living adjustment (COLA) of 6 to a 6.1 percent in 2022, according to The Senior Citizens League (TSCL). The COLA that becomes payable in January of 2022 would be the highest since 198"Our forecast is based on CPI data through August, and there is still one more month of consumer price data to come in before we get the official announcement in October, says Mary Johnson, Social Security policy analyst for The Senior Citizens League. … Continued
For information about town hall meetings near you in the final days of the week-long recess, call the local offices of your elected officials. You can find contact information for your Members of Congress right here. ."'We find no indication that these reductions in demand affect only ‘low-value' drugs; on the contrary, those at the highest risk of heart attack and stroke, who would benefit the most from statins and antihypertensives, cut back more on these drugs than lower-risk patients.'" .Be suspicious of products that claim to treat a wide range of diseases. .Third, Senator Casey's BENES Act (S. 1909) gained one new cosponsor in Senator Susan Collins (ME), bringing the cosponsor total to two in the Senate. If signed into law, S.1909 would simplify the Medicare enrollment process and help prepare those approaching Medicare eligibility by educating them about the program's benefits. .More than 10,000 people died waiting for a disability decision from the Social Security Administration in 201The rising death toll coincides with the growing backlog of people awaiting a decision about their eligibility for Social Security disability insurance benefits. But even after a disabled individual has been found eligible, he or she must wait 5 months for benefits to begin, and 2 whole years before Medicare benefits start. The long waits, especially for Medicare, have forced many low to middle-income disabled beneficiaries to deplete their savings while they wait. .The number of older taxpayers who find that a portion of their Social Security benefits are taxable tends to grow over time. Unlike income brackets that are adjusted for inflation, the income thresholds that subject Social Security benefits to taxation have never been adjusted since Social Security benefits became taxable in 198When the law was first passed, less than 10 percent of all Social Security recipients were estimated to have incomes high enough to be affected by the tax on benefits. But today, even retirees with modest incomes can be affected by the tax. .Fraud is so prevalent that prevention is only part of the solution. One in 20 seniors in the U.S. is a target of fraud schemes. Yet, the National Adult Protective Services Association has found that only one in 44 seniors report that they are victims of a fraud scheme, suggesting seniors lack information on how to file a complaint. .Congress Adjourns for Thanksgiving Break .But, again to be fair, the situation was the same when the Democrats were the majority in the Senate. So perhaps the issue is not which party is in control. Maybe it's the within the institution of the Senate itself. Or maybe it's the fact that voters keep sending Senators to Washington who are afraid to compromise on issues because the voters are so divided about what they done.
