We need to focus on putting the "Security" back into Social Security, and providing real relief from rising Medicare costs, by avoiding double digit premium increases to begin with. Congress can accomplish both by providing an emergency COLA in 202That one action would negate the need for any Medicare Part B premium cost shifting and double-digit premium increases. Providing a benefit boost would also reduce the need to adjust Part B premiums for those with the lowest benefits in the future. .To pay for the boost, advocates propose lifting the payroll taxable maximum so that higher earners pay Social Security taxes on their fair share. In 2017 workers pay Social Security taxes on the first 7,200 in income. But the highest earners, like highly paid CEOs, don't pay anything on earnings over that amount. .Capping the Part D out-of-pocket spending requirement is a key provision of the bi-partisan Senate drug bill, "Prescription Drug Pricing Reduction Act of 2019" (S.2543). "Several of the provisions of this bill appear to have broad support with Medicare beneficiaries," notes Mary Johnson, a Medicare and Social Security policy analyst for The Senior Citizens League. The new survey found widespread support among survey participants for capping Medicare Part D out-of-pocket requirements at no more than 0 per month (,000) per year. About 36 percent of survey participants reported spending up to 0 per month on prescriptions in 2019, and another 21 percent spent more than that. .Women who earn less are particularly disadvantaged because females tend to live longer compared to men but have to live on less in benefits. The Social Security Administration website tells us that the typical woman receives ,218 each month while the typical man receives ,534 per month — meaning that, on average, men receive 25% more in Social Security benefits. This means that women have much less money to cover their expenses over a longer period. .On Wednesday, Congressmen Elijah Cummings (MD-7) and Peter Welch (VT) met with President Donald Trump to discuss the state of the prescription drug industry. At the meeting, they requested President Trump's support for TSCL-backed legislation called the Medicare Prescription Drug Price Negotiation Act (H.R. 242, S. 41), which would require the federal government to negotiate lower drug prices on behalf of Medicare Part D beneficiaries. Currently, Medicare is prohibited from doing so despite the fact that other federal health programs are required to. .Increase income. On average, older Americans get about 34% of their total income from Social Security; 33% from earnings; 11% from personal assets such as money in IRAs, 401(k) plans and taxable accounts, and 22% from pensions. To boost income, they could invest more aggressively in higher-yielding and perhaps more risky assets, such as long-term bonds and high-dividend-paying stocks; go back to work; or if they are still working, take on more hours. .If you or a loved one is looking for assistance regarding vaccine distribution, economic impact payments, or any other COVID resources, be sure to reach out to your federal, state and local government representative or a trusted community organization. .Cutting the payroll tax permanently, which President Trump said he would seek to do if he is re-elected, would bring insolvency even closer and make the whole situation so much worse. .Changes in U.S. immigration polices impact the finances of Social Security and Medicare. Policies that expand legal immigration would result in new payroll tax revenues from immigrant workers flowing into Social Security and Medicare, strengthening program finances. On the other hand, policies that provide new work authorization to immigrants who are already working in this country illegally would provide new access to Social Security and Medicare benefits that could be based, at least in part, on earnings worked under invalid or fraudulent Social Security numbers.