Missing Medicare Part B Enrollment Deadline Triggers Penalties .According to the Urban Institute, parents who take paid leave one time would see a 3.2 percent cut in their future Social Security benefits, and parents who take paid leave two times would see a benefit cut of around 5.5 percent. Those who take four paid leaves would see permanent Social Security benefit cuts of around 10 percent in retirement. .Since he was first elected to Congress in 2010, Congressman Mulvaney – a founding member of the House Freedom Caucus – has been vocal about his support for reforming the Social Security and Medicare programs. In a 2011 interview, he told reporters: "We have to end Medicare as we know it. We have to fix it." He has endorsed several proposals that would privatize the Medicare program by adopting a "premium support" model, and on Tuesday, he endorsed plans to increase means-testing within the program. Both of those proposals are opposed by TSCL since they would result in higher out-of-pocket costs for beneficiaries. … Continued
Medicare Part D Will Cost Me More 2 Feed
One of our purposes in visiting with those offices was to find out why they do not support the bill and to see if there is any hope that some compromise to the bill could be reached. The main reason they do not support the Grassley-Wyden bill is because it has a provision that they believe would, in essence, result in government price-setting of drug prices and would be a first step toward a one-payer (meaning government) health care system. Each office mentioned other bills that they might support but there is not one bill that the Republican majority is currently in favor of and that might have a chance to pass. It was also stated that because this is an election year there is a very short timeline for action to be taken. .You can depend on TSCL to be in the middle of the fight to secure Social Security and Medicare and make sure we all receive the benefits we depend on and that we have already paid for during our working years. .The House of Representatives did not return to Washington but on Friday they held a vote on a resolution about whether to start conducting official votes by using proxies. To do so would end more than 200 years of precedent and now allow lawmakers serve as proxies for colleagues quarantined or otherwise stuck at home during the pandemic. … Continued
Congress already had deferred most employer payroll taxes for the rest of 2020, so the President is now attempting to defer workers' payroll taxes. This relief only applies to people who are working and collecting a paycheck. Most importantly for seniors, if the taxes were not repaid, it would move the Social Security Trust Fund more quickly toward insolvency. .https://www.mayoclinic.org/diseases-conditions/coronavirus/in-depth/covid-19-cold-flu-and-allergies-differences/art-20503981 .It eliminated the Independent Payment Advisory Board (IPAB). This fifteen-member board of unelected officials was created by the Affordable Care Act in 2010 to keep Medicare spending down when it exceeded a certain level. While that level was never surpassed and no members were ever appointed to the board, TSCL felt that it could have threatened access to quality medical care for Medicare beneficiaries since it had the power to cut payments to doctors and limit networks of providers. TSCL has advocated for bipartisan legislation for years that would have eliminated the IPAB, and we were pleased that the Bipartisan Budget Act did just that. .Currently, the IRS allows Americans with high health care costs to deduct certain out-of-pocket expenses from their taxes. This deduction makes a big difference for those battling high medical costs as a result of sickness or age-related complications. .Although immigration law forbids work without authorization, immigrants do find jobs and employers report their earnings to SSA. Currently there are no official published data on the amount of money paid into the Social Security system by aliens whether legal or illegal.(5) Social Security's Chief Actuary, Stephen C. Goss, however, has been quoted in the news media as saying that about three quarters of "other–than–legal" immigrants pay payroll taxes.(6) .TSCL encourages its members and supporters to attend these events and to voice their concerns about important Social Security and Medicare issues like inadequate cost-of-living adjustments and skyrocketing prescription drug prices. .Democratic leaders believe the measure could save almost half a trillion dollars if it were to pass. And while it would be much more likely to be brought up for a vote, the uncertainty about whether it could pass in the Senate remains. .Source: The Full Retirement Age is Increasing, Social Security Administration, July 23, 20http://www.socialsecurity.gov/pubs/ageincrease.htm .Rep. Ted Deutch (FL-21) introduced H.R. 1811 on April 15, 201It has since been referred to the Committee on Ways and Means and to the Committee on Education and the Workforce.