Category Legislative News Page 60
Debt among older Americans is rising and affecting a growing number of retirees. According to the Survey of Consumer Finances, the percentage of households with debt headed by an adult age 65 and older increased from 41.5% in 1992, to 60% in 201Medical debt poses the biggest challenge over the course of a retirement. .Democrats want to be able to pass President Biden's economic stimulus/COVID-19 relief bill, but it is highly unlikely they could get 10 Republicans to vote for the bill. .Currently, when hold harmless is triggered on a nationwide scale there is no provision of law to finance the unpaid portion of Medicare Part B premium increases. Instead, the entire burden of Part B costs is spread over a much smaller number of individuals, which is the 30 percent of Medicare Part B enrollees who are not protected by the hold harmless provision. This has led to significant spikes in Medicare Part B premiums during the hold harmless years, and in 2018 when a COLA finally became payable, to steep jumps in premiums for those whose Medicare Part B premiums were held lower in 2016 and 2017. … Continued
Legislative Update For Week Ending August 10 2012
Healthcare Debate Continues in Senate .House Republicans Revive AHCA .These higher Medicare Part B premiums in turn contributed to flat growth in Social Security benefits in subsequent years — even when a 2 percent COLA became payable two years later in 201The Medicare Part B premium took the entire 2 percent COLA for about half of all beneficiaries according to a survey by The Senior Citizens League. … Continued
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. .With reconciliation, Democrats can pass a bill without any Republican votes so they are hoping to get a much more comprehensive bill than the Grassley-Wyden one. .Regardless of what the court decides, TSCL believes that Congress needs to enact legislation that would prevent Social Security credits for unauthorized work done under illegal, stolen or invalid Social Security numbers. TSCL supports the No Social Security for Illegal Immigrants Act (H.R. 1716), introduced by Representative Dana Rohrabacher (CA-48). .If you have recently moved and need to update your official mailing address, visit MySocialSecurityaccount, or call Social Security at 1-800-772-1213. .In other words, next year's COLA could be calculated based at least in part on guesses. That could be disastrous for seniors. .Second, one new cosponsor also signed on to the Social Security Administration Fairness Act (H.R. 6251), bringing the total up to thirty-five. The new cosponsor is Representative Ron Kind (WI-3). If adopted, H.R. 6251 would improve the administrative funding of the Social Security Administration, implement a moratorium on field office closures, and eliminate two waiting periods for Disability Insurance beneficiaries. .Recently a journalist, familiar with my estimates of cost-of-living adjustments, contacted me for my thoughts on the topic.. What's Missing From Your Social Security Check? For Many — 7 , editor .The good news is that there was progress last week in moving the needed legislation forward. The Senate passed its own version of H.R.1868, which would postpone the cuts for another nine months. ."Someone who presents with COVID-19 symptoms several days after arriving at their destination could have been infected at home before arriving at the airport, whilst at the airport or on the flight — or even on arrival at their destination airport — because everyone has a variable incubation period for COVID-19," Tang said.