The second bill is H.R. 1215, which would establish an office within the Federal Trade Commission and an outside advisory group to prevent fraud targeting seniors and to direct the Commission to include additional information in an annual report to Congress on fraud targeting seniors. .With about 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of TREA The Enlisted Association. Please visit or call 1-800-333-8725 for more information. ."CBO's updated estimate, based on the latest economic data, continues to show that the Average Wage Index will likely drop due to the COVID-19 pandemic, and millions of Americans will receive lower Social Security benefits unless Congress acts. A medium earner in the affected cohort could lose 0 a year for the rest of their lives. While this is a smaller cut than initially estimated, Congress must still fix this flaw in the benefit formula. These are earned benefits, and already many seniors are just scraping by with the current modest benefits. That is why I will be reintroducing the Social Security COVID-19 Correction and Equity Act to fix the benefit formula and ensure it does not happen again," said Larson. .Increasing the payroll tax rate. Social Security is currently financed by a 12.4 percent payroll tax, split evenly between employers and employees. Gradually increasing the tax rate to 14.4 percent – just one percent more for both workers and employers – would extend the solvency of the Social Security program for decades to come and would amount to just an extra 50 cents per week for the average worker. .You can find contact information HERE. In addition, you can find ten sample town hall questions HERE, in this month's issue of the Social Security and Medicare Advisor. .This week, lawmakers in the House and Senate voted to begin conference negotiations on legislation to overhaul the tax code. Representatives in the House passed their tax reform bill last month, and Senators in the Senate passed their version last Friday, with a vote of 51-4Members of the bicameral conference committee have been busy ironing out the differences between the two bills this week, and they hope to have a deal reached before they adjourn for the holiday recess on December 22nd. .The cost of additional coverage varies significantly. There are pros and cons that need to be weighed for the type of selection you make for your additional coverage. For example, you should ensure that your Part D or Medicare Advantage plan is selected based on the drugs you take, and the doctors and hospitals you actually use. (A Medicare benefits counselor will check this information for you on the Medicare website.) While the cost of this additional coverage varies, the coverage offered may be identical, and that is why we recommend getting help from a SHIP counselor, who can help you find coverage to keep your costs to a minimum. Medigap insurance, for example, costs more for the premium, but you would have minimal out-of-pocket costs. On the other hand, you might pay less for the premium of a Medicare Advantage plan, and perhaps get some additional benefits like vision care, but you would have co-pays or co-insurance for each service. In Central Virginia, for example, a Medigap G policy may be found for about 0 per month, and roughly per month for the drug plan (or even less). .This week, one House Subcommittee heard from the Medicare Payment Advisory Commission (MedPAC) about its most recent report to Congress, which was titled Medicare and the Health Care Delivery System. In addition, the 2013 recovery estimate was released for the Senior Medicare Patrol, and The Senior Citizens League (TSCL) saw support grow for two key bills. ."The idea that we would allow ourselves to be held hostage in an emergency is mind-boggling," said David Mitchell, head of Patients for Affordable Drugs, an advocacy group.