H R 1553 Fair Cola For Seniors Act
A 2.5% COLA would boost an average monthly benefit of about ,500 by an additional ,000 over the next ten years through 2030. An emergency 2.5% COLA would boost a monthly ,500 benefit by an extra .50 (0 per year) in 2021, but it would grow to an extra .30 per month by the end of ten years. Another way to think about this, if retirees do not receive a 2.5% COLA, that would be like loosing ,000 in Social Security income over the next ten years. .Throughout the hearing, Barthold urged the Committee Members to address the corporate and individual tax codes. For both, he recommended total overhaul. .Lawmakers Adjourn for Holiday Recess … Continued
Congress Picks Up Debate Over Benefit Cuts
The rule would require drug companies to give Medicare beneficiaries rebates that now go to insurers and PBMs. The nonpartisan Congressional Budget Office estimates it would increase taxpayer costs by 7 billion over 10 years. .What would you say are the three most important decisions to maximize Social Security? .TSCL believes much more stringent measures are needed to protect Social Security and SSI programs from document fraud. TSCL supports legislation that would ban the use of unauthorized earnings for determining entitlement to Social Security benefits. In addition, TSCL supports stronger penalties for the use of fraudulent documents for obtaining federal benefits, including SSI. … Continued
Even though Medicare recipients getting these services may stay in the hospital overnight or longer, getting the same nursing care, lab tests and drugs as they would if inpatients, their bill will be calculated very differently. Patients admitted for in-patient stays usually are responsible for the Medicare hospital deductible of ,484 for a stay of up to 60 days. They may also pay 20% of doctor charges. Many people have Medigap or Medicare Advantage plans that cover much or even all of this expense. Outpatient services, on the other hand, are charged differently, with the patient paying 20% of the Medicare approved amount for each service. In addition, the new billing changes would hit patients with "facility fees" that can run up to several thousand dollars to cover hospital overhead charges. And since, prescription drug plans don't cover medication for hospital patients, beneficiaries would be charged 100% of the full retail cost of drugs they need, even those they normally routinely take at home. .As your mom moves through stages of Alzheimer's, she will need more care over time. The medicines used to treat Alzheimer's only control symptoms, such as memory loss and confusion, but cannot cure the disease. The symptoms inevitably will get worse and because of this, eventually your mom will need more help than you can supply at home. .Comprehensive immigration reform has been topping the legislative agenda in Congress for months, but so far most policy wonks and lawmakers have kept quiet about the ways in which reform would affect Social Security. Millions would become eligible to collect Social Security benefits based on work done illegally, under invalid or fraudulent Social Security numbers. TSCL is concerned about the ethical implications of this, and we believe that it would put additional strains on the Social Security and Medicare Trust Funds. .For more information, or to see if your Members of Congress have scheduled town halls during the August recess, contact their local offices. You can find contact information HERE, and for a list of sample questions, click HERE. .Those born during the Notch period "saved Social Security" by receiving lower benefits for the rest of their lives. They are the generation that fought and sacrificed during World War II. Now, although they receive lower benefits, they are among the senior age group hit hardest by escalating health care insurance premiums and prescription drug costs. .How Safe Are Electronic Social Security Benefits From Fraud? .Seventy-eight percent of the prescriptions ordered by one Florida physician were for Schedule II drugs. For one beneficiary, this physician prescribed a 605-day supply of morphine, a 52day supply of oxycodone, a 460 - day supply of fentanyl, and a 34day supply of hydromophone. .COLAs Reach All Time Lows At Same Time Seniors Report Expenses Higher Than Ever ."Because earnings are used to determine entitlement, the portion of earnings from jobs worked prior to legal authorization poses a substantial long-term liability to the Social Security Trust Fund," Cates says. In order to improve Social Security solvency, Congress is expected to consider cutting Social Security benefits, perhaps significantly, at some point in the future. "This policy that ‘pays benefits based on work while in the country illegally raises questions as to whether individuals who worked without authorization and committed document fraud will benefit at the expense of others who paid in under valid SSNs," Cates notes.