Weekly Update For Week Ending September 19 2020
In addition, the AHCA would repeal a tax created by the ACA that serves as a critical funding stream for Medicare's Hospital Insurance Trust Fund. Cutting the tax would accelerate the insolvency of the Medicare Part A Trust Fund, and in a matter of a few years, it would become exhausted. In a Washington Post opinion piece, former Acting Administrator of the Centers for Medicare and Medicaid Services (CMS) Andy Slavitt wrote, "That's clearly no accident: The program would wind up right where ‘entitlement hawks' such as House Speaker Paul D Ryan (R-Wis.) want it – in crisis. If this bill became law, the speaker would finally be positioned to change Medicare to a voucher program." .Our surveys are the key means to educate the public on issues, and for Members of Congress, to gauge how people think. Survey results can turn up the heat during an election year. This month, TSCL launches our annual 2020 Senior Survey, and we urge you to participate. This is our most important survey of the year, and your responses count. .Food and Drug Administration Issues Vaccine Fraud Alert … Continued
Social Security Medicare Questions Aprilmay 2013
The Social Security Trustees estimated last year that SS payroll taxes in 2020 would be about 3.8 billion under average economic conditions. Thus the 6 billion cost of the payroll tax provision in the CARES Act appears to be as much as 42% of all anticipated Social Security revenues for 2020. .Because you are over 65, you are subject to Medicare's Special Enrollment Period rules that apply to the loss of health insurance coverage through you or your spouse's former employer. You need to enroll in Medicare Part B during the 8-month period that begins the month after your husband's employment ends or the employer health coverage ends, whichever happens first. Coverage under COBRA, however, would NOT be more than a temporary option for you because you would NOT be eligible for a Special Enrollment Period when that coverage ends, so don't wait to enroll in Medicare. You have 8 months to sign up for Part B and Part D without penalty, starting after the loss of your husband's job. .Essential Drugs Need to be made in the U.S. … Continued
"If you look at the science across all diseases, you see few outbreaks" on planes, Allen said. "It's not the hotbed of infectivity that people think it is." .To remedy this problem, TSCL supports Social Security "caregiving credits." These credits would be applied to a worker's Social Security earnings record to make up for years when people took time out of their working careers, and earned little or zero income, because they were caring for children, spouses, or older family members. .In a statement that was released on Thursday, Mary Johnson – Policy Analyst for The Senior Citizens League – said: "The bottom line is that Medicare Part B premiums rise several times faster than COLAs, and those premiums are now high enough to cause the net Social Security benefits of millions of people to remain flat for years at a time … This would make the fourth year in a row that this particular group has not seen a boost in their net Social Security benefits." .This week, lawmakers in the House and Senate remained in their home states and districts to continue the fall congressional recess. .Although Congress has often enacted "clean bill" debt limit increases, and may do so again, lawmakers have also paid for increases with other types of changes, including changes to Social Security and Medicare. In a 2015 debt limit deal, Congress ended a benefit claiming option that was one of the few ways married couples could maximize their benefits. The change affected some people who were already 62 and entitled to benefits. It cost those affected, thousands in Social Security income that they were depending on getting. .If you have symptoms of COVID-19, follow the Centers for Disease Control and Prevention's guidelines, and speak to your medical provider. Your health care provider will advise you about whether you should get tested and the process for being tested in your area. .The Social Security website, www.SocialSecurity.gov, has a number of tools and retirement planning to get you start planning, including benefit estimators. You should set up a "my Social Security" account that will give you online access to your earnings record, because you will need that for an accurate estimate of your benefit. .This week, lawmakers involved in talks to permanently repeal and replace the SGR revealed that a temporary pay-patch will likely be necessary. Those serving on three committees – the House Ways and Means Committee, the Energy and Commerce Committee, and the Senate Finance Committee – have successfully negotiated a legislative compromise, but they've been struggling for weeks to come up with offsets that will cover the cost of the 8.4 billion bill. .Having income to supplement Social Security benefits that lasts your entire life, no matter how long you live, is a challenge for many seniors. If you don't get a sizable pension from an employer, but you have some savings built up in retirement accounts, "longevity insurance policies," better known as annuities, might be worth considering.