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  • Cost Living Adjustment Completely Taken Part B Premium

    In the latest issue of Best Ways to Save, retirees, and those nearing retirement learn: .If adopted, the bill would strengthen and reform the Social Security program responsibly, without enacting any benefit cuts for older or disabled Americans. Among other things, it would: boost Social Security benefits by 2 percent, protect against inflation by basing cost-of-living adjustments (COLAs) on the CPI-E, create a new minimum benefit set at 125 percent of the poverty line, and cut taxes for over 12 million Social Security beneficiaries. .This has led National Cancer Institute (NCI) Director Ned Sharpless to worry that the trend of patients and physicians postponing essential cancer care will swap the ongoing pandemic for another public health crisis in the form of increased cancer cases and deaths. An NCI analysis estimated, for instance, that pandemic-related delays in breast and colon cancer diagnoses and treatment could lead to 10,000 more deaths over the next decade. "We're very worried about the consequences of … delaying therapy on our patients," Sharpless said. … Continued

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    According to an analysis by Johnson, the impact of switching to the more slowly - growing "chained" CPI would compound over time, with the deepest cuts accruing after people had spent 25 or 30 years in retirement. After 25 years, benefits would be cut by about 4.6 percent, and by 5.5 percent after 30 years. For someone with average benefits of ,245 in 2017, benefits would be 0 per month lower from using the chained CPI after 25 years, and 6 per month lower after 30 years, the analysis found. .What Do We Do Now? My Husband Lost His Job And Our Healthcare Coverage .The rule would require drug companies to give Medicare beneficiaries rebates that now go to insurers and PBMs. The nonpartisan Congressional Budget Office estimates it would increase taxpayer costs by 7 billion over 10 years. … Continued

Regarding Social Security, TSCL was pleased to see that the President's proposal did not include the "chained" CPI, as it did last year. Many in Congress were also relieved by its absence. Shortly after the blueprint was released, Sen. Bernie Sanders (VT) – founder of the Defending Social Security Caucus – said, "I am especially proud that the President did not renew his proposal to cut Social Security benefits. With … more people living in poverty than ever before, we cannot afford to make life even more difficult for seniors." ."Social Security benefits have flat - lined since 2010," says Mary Johnson, a Social Security policy analyst and author of TSCL's buying power study. "That was the first time since the annual COLA became automatic that inflation was too low for a COLA to be payable," Johnson notes. Since then, COLAs have averaged just 1.2 percent per year, less than half the 3 percent that COLAs averaged during the decade prior to 2010. .Support for Notch Reform legislation has grown significantly, nearly doubling over the previous six Congressional sessions in which it's been introduced. TSCL is encouraging seniors and their younger family members like you to contact your Members of Congress and urge them to co-sponsor and pass "The Notch Fairness Act, " H.R. 1001 and S. 118! .One further reason for the growth is undoubtedly the growth in the primary beneficiary rolls, upon which the benefits of ANP dependents and survivors are based. According to the Inspector General, older non-citizens workers are now at the age and have worked in this country long enough to be potentially eligible to file claims for retirement or disability. The Inspector General has also said that those who worked using invalid, or non-work Social Security numbers issued prior to January 1, 2004, did not need valid work authorization in order to file a claim. Under current law the Social Security Administration uses all earnings, including those for illegal work, to determine entitlement to benefits. .The Senior Citizens League (TSCL) will be monitoring CR discussions in the Senate in the coming hours and days, and we will post updates on Facebook and Twitter. In addition, we will continue to monitor ongoing budget discussions since they are expected to include plans to repeal the Affordable Care Act. As was noted in a recent legislation update, repealing the law would impact the Medicare program in several ways. For instance, progress that has been made to close the prescription drug "doughnut hole" would be reversed, and the Hospital Insurance Trust Fund that finances Medicare Part A would lose an important stream of funding that the law created. The Trust Fund could face immediate depletion if eliminated. .In addition to funding the government, the 2,000-page deal will renew health benefits for 9/11 responders, lift a ban on the exportation of crude oil that has been around for nearly fifty years, and delay two Obamacare taxes for two additional years – one tax on medical devices and one tax on high-cost "Cadillac" healthcare plans. As a part of the deal, leaders in Congress also agreed to make permanent a number of tax breaks that have been subject to frequent renewals for decades. .Social Security arose again at the hearing when Committee Member James Clyburn (SC) commented on the payroll tax cap, which is currently set at 6,800. He suggested that the cap be raised to cover 90 percent of income – as it did in the early 1980s – in an effort to restore the program to solvency. Some Members scowled disapprovingly at this proposal and it is still unclear whether the Committee will even touch Social Security, but if they do, this option could appear on the short-list. Clyburn asked Barthold to research the potential effects of raising the wage cap and to report back to the Joint Committee. .Both chambers of Congress adjourned for the President's Day Holiday this week and are expected to return to Capitol Hill on Monday, February 25th. Meanwhile, Alan Simpson and Erskine Bowles, former co-chairs of the National Commission on Fiscal Responsibility and Reform, released a new proposal that would avert the looming sequester and trim .4 trillion from the deficit. In addition, two Members of Congress re-introduced a critical bill that would extend the solvency of the Social Security Trust Fund without cutting benefits. ." ‘If it comes to getting my family members vaccinated, and all that's available is J&J or Novavax, I'd tell them to take it,' said Robert Hancock, president of the Texas College of Emergency Physicians."