News

  • March 2013 Newsday

    The AWI, however, is susceptible to causing permanent benefit reductions when it turns negative, which can happen in years of deep economic recession and extraordinarily high unemployment, as was the case in 2020. Last year, concerns were high that the reductions could be as high as 9.1%, according to an estimate by Social Security's Chief Actuary Stephen Goss. But since then the economy and wages have steadily recovered and the dip in the AWI, if any, is not expected to be so deep. .Support for the IPAB at both hearings was scarce. Some Members, including the Ranking Member of the House Budget Committee, Chris Van Hollen (MD), called the IPAB a necessary "failsafe" measure that will stabilize healthcare costs. He stressed the fact that the experts on the IPAB will make recommendations, but Congress will ultimately have the final say in whether or not they become law. .The week ended with a live speech from President Trump heralding the new legislation passed recently that makes mandatory the transparency of the cost of hospital treatments, supplies and prescriptions. Of most interest to TSCL is the high cost of prescription drugs. During our meetings with Congressional offices this week we left information with all of them concerning a large number of issues we are working on including prescription drug prices. … Continued

  • Social Security Benefits Lose 23 Buying Power

    The proposal to switch to the chained CPI has come up numerous times during past budget negotiations over lifting the federal debt limit. Most recently the proposal appeared last December in a 2016 House bill that would reform Social Security, and in an alternate fiscal year 2017 budget proposed by the Republican Study Committee. The proposal remains a key provision of debt reduction plans, because so many federal benefit programs and the tax code are adjusted using the CPI. The CPI-U has recently been proposed to index Medicaid payments in the Senate health bill. Economists have estimated that adopting the chained CPI would cut Social Security by 0 billion over ten years. .Here are some questions to consider in shopping for dental insurance: .Although it's illegal for immigrants to work in this country without a valid Social Security number, millions of illegal workers readily obtain forged or invalid Social Security numbers and show them to employers to get jobs. Employers use the invalid Social Security numbers for reporting earnings to the Social Security Administration. … Continued

Low-income seniors would receive assistance from Medicaid, and those with the greatest health expenses would receive additional help from the government. According to the plan's sponsors, The Congressional Health Care for Seniors Act would reduce the deficit by trillion over ten years, and it would save the average enrollee ,500 in out-of-pocket expenses each year. However, a recent poll conducted by the Kaiser Family Foundation shows that a majority of Americans – seventy percent – would prefer to keep Medicare as is, "with the government guaranteeing seniors health insurance and making sure that everyone gets the same defined set of benefits." .Each month, due to the Social Security Act Amendments that were signed into law in 1977, more than 3.7 million Notch babies receive Social Security checks that are lower than the benefits they originally anticipated. Last year, Representative Mike McIntyre (NC-7) introduced the Notch. Benefit Bulletin: June 2012 "Tough Choices" — Payroll Tax Cut For Illegals Or Notch Reform? .While felony fugitives are prohibited from receiving SSI payments, there is no such prohibition on benefits from Social Security`s main program, which pays retirement, survivors, and disability benefits. Auditors have asked Congress to bar fugitives from receiving payment from Social Security`s other programs as well. Congress is `studying` the recommendation. .However, one week ago a federal judge in California issued a ruling stopping the implementation of the rule because of the "government's failure to complete the notice and comment procedures required by the Administrative Procedure Act." .— are relatively young and, .The Social Security cost-of-living adjustment (COLA) for next year is likely to be the highest seen by retirees since 198Based on the most recent CPI data through August, I estimate that the COLA will increase Social Security benefits by 6%-6.1% in 202This would be the highest increase that I've forecast. Your Social Security Benefits Buying Less , editor .A retirement coach might be helpful, but the fees can be pricey. A retirement coach differs from financial advisors by helping clients with nonfinancial social issues you need to consider in retirement. These include finding the right type of housing, figuring out Social Security and Medicare benefits, transitioning into second careers or volunteer work, and staying engaged with others in the community. A retirement coach will help you think through what you want and help you develop plans to attain those goals. A coach can also advise clients on managing aging parents or younger family members and provide help for maintaining a healthy state of mind. .New Medicare enrollees, higher -income beneficiaries, people age 65 and older who have not started Social Security benefits (about 11% of beneficiaries).[5] .A new report has found that millions of senior Americans are missing out on over billion in benefits that help pay for healthcare, prescriptions, food, and utilities. TSCL is concerned that many Notch Babies may be missing out on these benefits that help those with limited income and resources, because they may not realize they are eligible. Many seniors struggle to pay for daily necessities like healthcare, medicine, housing, home energy and food. In addition many of these same older adults have one or more chronic health conditions like cancer, heart disease, diabetes, or arthritis resulting in higher healthcare costs and limitations on daily activities.