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  • 27 Of Seniors Spend Up To Half Of Their Social Security On Healthcare Costs

    Source: The Federal Government's Long-Term Fiscal Outlook, Government Accountability Office, October 201"Monitoring Medicare+Choice, What Have We Learned?" Mathematica Policy Research, Inc., August, 2004. .The Congressional Budget Office estimates that H.R. 3, Elijah E. Cummings Lower Drug Costs Now Act, prescription drug price negotiation legislation which is under debate in the House could lower government spending on Part D by 6 billion over a ten year period, but cautioned the estimates are uncertain, especially if price negotiations are implemented differently that the CBO's interpretation. .This week, four new cosponsors signed on to the Social Security Fairness Act (H.R. 973), bringing the total up to 10The new cosponsors are: Reps. Kathleen Rice (NY-4), Andre Carson (IN-7), Michael Fitzpatrick (PA-8), and Brendan Boyle (PA-13). … Continued

  • Issues Medicare Prescription Drug Policies Track Bills

    I'm a divorced retiree and I file taxes as a single household. Can you tell me why my benefits are taxed and how the income threshold that subjects Social Security benefits to tax is set? People who have adjusted gross incomes of ,000 (individual) can barely cover living expenses, let alone taxes too. Is there anything I can do to reduce this tax? .According to Rep. Roskam, the bill would enhance data sharing between states and agencies so that they can more easily catch scammers, and it would modernize outdated fraud prevention systems. Upon introducing the bill, Rep. Carney said, "In this Congress, it's not easy to find areas where Democrats and Republicans agree, but fighting waste, fraud, and abuse while saving billions of taxpayer dollars just makes sense." .Can I expect a cost of living increase this next year? Something needs to happen! … Continued

What would you say are the three most important decisions to maximize Social Security? .Rep. McIntyre has consistently cosponsored the Consumer Price Index for Elderly Consumers (CPI-E) Act, a bill that would provide seniors with a more fair and accurate Social Security cost-of-living adjustment. He has also cosponsored legislation that would close a Social Security loophole that allows non-citizens to become entitled to Social Security benefits for work done illegally. Finally, Rep. McIntyre introduced the Notch Fairness Act in 2011, a bill that would provide those born between the years 1917 and 1926 with modest compensation for the lower Social Security benefits that they tend to receive. .On Wednesday afternoon, the Senate Finance Subcommittee on Social Security, Pensions, and Family Policy held a hearing titled: "Examining the Importance of Paid Family Leave for American Working Families." Those on the subcommittee heard from two of their colleagues – Senator Joni Ernst (IA) and Senator Kirsten Gillibrand (NY) – as well as three expert witnesses. .Senator Sanders said at the hearing: "Constituents are sick and tired of getting ripped off by drug companies and paying the highest prices in the world … The real issue is whether Congress has the guts to take on the powerful pharmaceutical industry." ."Turning our backs on trading partners during a crisis could damage our relationships long after this pandemic ends," the Pharmaceutical Research and Manufacturers of America (PhARMA) and dozens of other business and trade groups wrote in a letter to the administration. .The "grandparent scam" has been around for a while, where a scammer poses as a relative, often a grandchild, in a desperate situation in urgent need of money. Due to the economic crisis created by the pandemic, the Federal Communications Commission has worked to raise the awareness of the grandparent scam. .The suit is over Obama's executive actions on immigration announced last November. The executive actions would expand a program that protects immigrants from deportation if they were brought to the U.S. illegally as children. Another major part of the orders would extend deportation protection and provide work-authorized Social Security numbers to illegal immigrants who are parents of children born in this country and who have lived in this country for some years. .What you don't know about Medicare supplements (Medigap) or Medicare Advantage plans could cost you dearly. The system is rigged in favor of Medicare insurers, and consumers often have little idea what they will need or be able to afford. Here are a few tips: .Tuesday's hearing made it clear that the Joint Committee has an enormous amount of work to do in a very short amount of time and in a very politically-charged environment. Adding to the pressure, Elmendorf told the Committee Members that if they wish to have their proposal scored by the CBO before voting on it, they'll need to submit it by early November, giving them less than two months to reach a compromise. Despite the tough circumstances, most Members seemed up to the challenge and will to, as one Committee Member put it, "go big, go long, and go smart."