Key Social Security Bill Re-Introduced .We will be watching all of the candidates closely as we approach the November elections. Seniors are not being over-paid by Social Security and are not under-paying for Medicare. Getting Congress to pass a fair COLA that reflects the true cost of living for Seniors' remain one of our top priorities and we will keep you informed about what the candidates say about the Social Security and Medicare issue and details on their platforms are released. .Call on your Member of Congress and urge them to sign on in support of the Medicare Physician Payment Innovation Act, and in doing so stand up for millions of American seniors who depend on their access to their doctors and healthcare providers for everyday and lifesaving care. .The four stated that their proposal – The Congressional Health Care for Seniors Act – would "provide Medicare patients with the best healthcare in America," and that it would "forever protect seniors' interests by aligning them with self-interested politicians." But the plan is risky for two key reasons. First, it would eliminate Medicare completely, and second, it would do so beginning in 2014, affecting even current beneficiaries. Other proposals, including the plan released by House Budget Chair Paul Ryan (WI-1) in his fiscal 2013 budget, would offer traditional fee-for-service Medicare as an option to seniors, and would delay implementation to protect current enrollees from any drastic or sudden changes. In addition to phasing out traditional Medicare, The Congressional Health Care for Seniors Act would gradually increase the eligibility age to seventy, and it would increase means-testing measures so that wealthier seniors would pay a greater percentage of their healthcare costs. .At the time of writing this update on Friday morning, the vote had not yet occurred. It is expected to take place on Friday afternoon, before the non-partisan Congressional Budget Office has a chance to evaluate the final version. It remains unclear whether or not the AHCA will gain the support needed to win passage. If adopted, the AHCA will move to the Senate, where its future remains even more uncertain. If it fails, Republican leaders on Capitol Hill have said they will move on to other legislative priorities, like tax reform. .Social Security Notch Reform – Working towards benefit equality for older Americans. .Scrapping the Social Security payroll tax cap on the taxable wages would not only provide enough revenues to make the program solvent for another 50 years, but would also pay for a more fair and accurate cost-of-living adjustment (COLA) for current retirees. For example, say a CEO of a company receives million in compensation. That individual and the employer each pays 6.2% Social Security taxes on the first 8,500 in wages. Social Security receives a total of ,69But if the entire million were taxed, Social Security would receive 8,000 instead. .Last week House Ways and Means Social Security Subcommittee Chairman John Larson (D-Conn.) reiterated the need for Congress to prevent an unintended and unanticipated Social Security benefit reduction – caused by the pandemic recession — that will affect certain beneficiaries, after the Congressional Budget Office (CBO) released an updated estimate of this effect. .This article focuses on immediate annuities that provide income that starts right away, and lasts over your entire lifetime. (There are deferred annuities that younger investors purchase for later payouts. This type often has a reputation for high sales costs and poor investment performance and is not the topic of this article.)