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How Much Less Do Notch Babies Receive
If the bill doesn't pass into law one way or the other it would be the first time in 60 years the legislation has failed to be enacted. .MedPAC Delivers Report, Testimony to Congress .In addition, the Secretary of Health and Human Services (HHS) is prohibited from negotiating directly with pharmaceutical companies on behalf of the more than 40 million Americans who get their prescription drug coverage from Medicare Part D. … Continued
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2015 Legislative Update Week Ending March 6 2015
Five Key Bills Gain Support .If you asked a Social Security recipient for a penny for their thoughts on next year's projected 0.2% cost of living adjustment, they could give it to you, but they'd only have .99 left. .In a statement that was released on Thursday, Mary Johnson – Policy Analyst for The Senior Citizens League – said: "The bottom line is that Medicare Part B premiums rise several times faster than COLAs, and those premiums are now high enough to cause the net Social Security benefits of millions of people to remain flat for years at a time … This would make the fourth year in a row that this particular group has not seen a boost in their net Social Security benefits." … Continued
This week, lawmakers in the House adjourned for a week-long recess, while those in the Senate heard from Sylvia Mathews Burwell, who was recently nominated by President Obama to serve as the next Secretary of the Department of Health and Human Services (HHS). Meanwhile, The Senior Citizens League (TSCL) saw . .If you delay starting benefits, past your full retirement age, your benefit will grow by 8% of the full retirement benefit amount per year until age 70, at which point your benefit would be about ,50To learn more about your Social Security benefits, and to get estimates visit the Social Security Administration's website at www.SSA.gov. .Now that Congress has passed President Biden's Covid-19 relief bill it must turn its attention immediately to passing legislation to delay billions of dollars in cuts to Medicare. .For more information, or to see if your Members of Congress have scheduled town halls during the August recess, contact their local offices. You can find contact information HERE, and for a list of sample questions, click HERE. .Second, three new cosponsors signed on to the Social Security Expansion Act (H.R. 1114), bringing the total up to thirty-six. The new cosponsors are Representative Robert Brady (PA-1), Representative Albio Sires (NJ-8), and Representative Tim Ryan (OH-13). If adopted, H.R. 1114 would enhance Social Security benefits by basing COLAs on the CPI-E, increasing monthly benefits by around , improving the Special Minimum Benefit, applying the payroll tax to income above 0,000, and applying a 6.2 percent tax on investment income for wealthy individuals. .This week, key legislators revealed that they will not pass a permanent repeal of Medicare's sustainable growth rate (SGR) formula before the March 31st deadline. .Confirmation Process Begins for Burwell .In addition, your Social Security benefit is likely to be small anyway. When Social Security calculates the initial benefit, the amount of total earnings would be averaged over a 35-year (420 month) period to determine your average monthly earnings. While you become eligible with a little as ten years of earnings total, the SSA will still average your earnings over the 420-month period. This would produce a low average initial benefit amount. Then the WEP adjustment would reduce your initial benefit formula by scaling back the amount of average monthly earnings that would be credited toward your benefit. .With the economy continuing to sputter, most seniors and Baby Boomers don't feel all that secure about their retirement finances. How realistic will my budget be for the New Year? Will Social Security and othe retirement income cover all my bills? Are my savings adequate to cover expensive chronic health costs? Seniors can find answers, practical tips and more in a special "Best Ways to Save" issue of The Social Security & Medicare Advisor newsletter free from The Senior Citizens League (TSCL).
