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  • Two Social Security Reforms That Seniors Strongly Support 2

    Gathering support for the legislation, which would cap drug costs for Medicare beneficiaries and force drug manufacturers to provide Medicare inflation rebates, has been an uphill battle for Grassley over the past year. .What if I make a donation and then become dissatisfied with TSCL? .High unemployment during the COVID pandemic of 2020 could cause an estimated 4 million people who were born in 1960 to face permanent reductions to their Social Security benefits, due to a flawed feature of the Social Security benefit formula. Congress can prevent this from happening, but only if it takes action in time. To prevent benefit cuts, Congress may need to enact legislation by the end of this year, before the 1960 birth cohort turns 62 and first become eligible to claim Social Security retirement benefits. … Continued

  • 210 Billion Cola Cut Proposed Pay Trumps Border Wall

    The House-Senate conference committee reached a deal this week to extend the payroll tax break and unemployment benefits, and prevent a 27% pay cut to Medicare physicians. The agreement came after months of debate and only after Republicans dropped their requirement that the payroll tax extension be offset by spending cuts. .Check to see if your drug plan has a deductible, and how much the deductible should be. The number of drug plans that are charging a deductible increased in 2020, and a larger percentage of the plans is charging the full standard deductible of 5 in 2020. A deductible is the amount you pay before your coverage kicks in. Deductibles can vary in how they are applied. You may get coverage for generics from day one, but you are probably going to be required to satisfy a deductible for your Eliquis. Of particular note, enrollees in the SilverScript Choice plan paid no deductible in many regions of the U.S. last year, but they will pay as much as 5 in 2020. A similar situation affects enrollees of the Humana Enhanced plan, who paid no deductible in 201For those who chose to remain in the plan — which is now called Humana Premier Rx, they will pay a 5 deductible. .It remains my goal in the 110th Congress to ensure that our Social Security system remains solvent and available to those who have spent a lifetime legally accruing benefits. I will continue to oppose international agreements that risk costing America's seniors their retirement security. In addition, I will continue to advocate an enforcement-first approach to immigration policy. Only when we have the mechanisms in place to effectively stem the flow of illegal immigrants into the U.S. can we begin to address the strain they place on our financial resources, including the Social Security system. … Continued

Budget Chair Revives Fiscal Commission Plan .Your Survey Responses are Helping to Change Attitudes About Social Security .Why ban the use of earnings from unauthorized work to determine Social Security benefits? Under current law Social Security uses all earnings to calculate Social Security benefits. That means earnings of unauthorized immigrants from jobs worked under invalid and fraudulent Social Security numbers (SSN) can be used both to qualify for benefits and for the calculation of the initial retirement benefit. There is no official published data on the amount of wages on file attributable to aliens working without authorization, but the Social Security Administration maintains an earnings suspense file that represents an estimated 3.5 billion in wages from 2000 through 2010[2], most of it believed to be attributable to illegal workers. Under immigration reform, that could mean a huge new liability for Social Security in the future, triggering more rounds of cuts and higher taxes. .In his opening statement, Dr. Conway said, "This proposal is part of the Administration's broader strategy to encourage better care, smarter spending, and healthier people by paying for what works, unlocking health care data, and finding new ways to coordinate and integrate care to improve quality." .Candidates campaign for office saying they don't support cutting Social Security benefits of current retirees, or those close to retirement. Yet the two recently - enacted changes went into effect almost immediately after passage. People who are under the age of 66 by the end of April 2016 may no longer use file and suspend, and those who were under the age of 62 by the end of 2015 will no longer be able to use restricted applications for spousal benefits. .Under current law, the Social Security COLA is determined by the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). This index surveys the spending patterns of younger working adults under the age of 62 and doesn't include the households of people who are retired. But older and disabled Social Security recipients allocate their budgets differently than younger working adults, spending a larger share of their income on medical and housing costs which, in many years, tend to rise faster than overall all inflation. .If signed into law, the Medicare Advantage Participant Bill of Rights Act would prevent Medicare Advantage plans from dropping physicians from their networks during the middle of the year, and it would require them to finalize their networks sixty days prior to the start of the open enrollment period. .This week, Members of Congress returned to Washington to begin working on a temporary measure that would avert a government shutdown on October 1st. In addition, The Senior Citizens League (TSCL) announced its support for one new piece of legislation, and three key bills gained cosponsors. .Both retirees and the disabled spend a very significant portion of their incomes on healthcare costs. For many, health insurance premiums are the most significant expense that they incur every month. That includes what the government automatically deducts for Medicare Part B, and what individuals shell out for a Medicare Advantage plan or Medigap policy, and Part D drug plan. According to a policy brief from the Kaiser Family Foundation, premiums account for the largest share of Medicare beneficiaries' out-of-pocket health spending. Four-in-ten Medicare beneficiaries spend more than 10 percent of their income on premiums alone. To get a better idea of what the government does track, here's a list from the Bureau of Labor Statistics (BLS). The BLS has classified all expenditure items into more than 200 categories, arranged into eight major groups. Major groups and examples of categories in each include: