MedPAC also recommended increased financial assistance for low-income Medicare beneficiaries in its report. Currently, those with incomes up to 135 percent of the federal poverty level qualify for Medicare Savings Programs (MSPs), which help beneficiaries cover the cost of Part B premiums. The Commissioners recommended extending the subsidy to those with incomes up to 150 percent of the poverty level. This would save those who qualify approximately ,300 a year in Part B premium costs, and the Commissioners believe it would "free up resources" for beneficiaries who are currently struggling to pay out-of-pocket costs. .Sources: "The Long-Term Budget Outlook," CBO, June 20"CBO: Deficit Would Soar In Coming Decades Despite Obama's Health Overhaul," Lori Montgomery, The Washington Post, June 30, 2010. .When he issued the orders President Trump gave the drug industry until Aug. 24 to find a suitable alternative to one of his drug pricing plans. He also announced that he would be meeting with drug company executives last Tuesday to begin discussions about a different plan. .Here's something hard to believe, but true. Our government is paying Social Security benefits to thousands of Mexicans who don't live in this country, or were never entitled to benefits based on their own work record. A new report from the Social Security Office of Inspector General details the growing problem of thousands of Mexicans who routinely visit the United States once a month to establish a claim to Social Security benefits. .TSCL enthusiastically supports H.R. 2745, H.R. 3118, and H.R. 1795, and we were pleased to see support grow for each of them this week. .The money that is withheld due to excess earnings is not completely lost. Once you reach full retirement age, the Social Security Administration will recalculate your benefits so that over time you can recover what was withheld. To learn more about getting Social Security benefits while working, visit: https://www.ssa.gov/planners/retire/whileworking.html. .Medicare Reform – Protect beneficiaries from changes that would impose greater out-of-pocket costs on beneficiaries. .The amount you get from Social Security may surprise you. While the amount you receive depends on how many years you worked, your earnings, and the age at which you start benefits, the average monthly Social Security payment today is about ,100. People who retire with average benefits will receive about ,200 in 2011 prior to Medicare premium deductions. With people spending as much as 25 years in retirement, people who retire today with an initial benefit of ,100 can expect to receive more than 6,800 in Social Security over 25 years. But that assumes no changes to cost-of-living adjustments (COLAs). .Generally, retirement planners say that to maintain their current standard of living, retirees need to replace 70 percent of their pre-retirement earnings. However, with recent hits to personal savings and 401(k) balances, households are struggling with an erosion in the value of their retirement savings. Also, while workers may plan to retire at a certain age, their retirement decisions are often subject to circumstances outside of their control. A study conducted by McKinsey & Company found that roughly half of all workers who retired earlier than they planned cited health reasons or needing to care for a family member; the other half cited job loss.