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  • Could Automatic Medicare Cuts Affect You

    Although immigration law forbids work without authorization, immigrants do find jobs, and the majority of employers report their earnings to SSA. Each year SSA receives hundreds of millions of W-2s. When the name and Social Security number (SSN) do not match SSA's records, the W-2 is held in the Earnings Suspense File (ESF). Recent data indicates that in recent years the ESF is growing at an unprecedented pace and the cumulative wages represented is now 5 billion. These wages can later be reinstated to valid Social Security numbers when immigrants gain work authorization. Because earnings are used to determine both the number of quarters of coverage worked for insured status, and the initial retirement benefit, this poses a substantial liability to the Social Security Trust Fund and would worsen its solvency. .The provision only protects an estimated 70 percent of beneficiaries (almost 43 million beneficiaries) from increases in the Medicare Part B premium that exceed the dollar amount of their COLA. When an individual's Part B premium increases more than the dollar amount of their COLA, the Part B premium is reduced to prevent a reduction in net Social Security benefits from one year to the next. .Is The IRS Paying Illegals Billions In Child Tax Credits? … Continued

  • Category Legislative News Page 21

    The state of Virginia, however, offers retirees a chance to retain certain parts of coverage but "opt out" of others. If Paula "opted out" of Part D drug coverage, for example, and took medical, dental, and vision coverage alone, she would pay 6 per month. The portion of the premium for the drug coverage through the state of Virginia was a whopping 4 per month. .Social Security's "full" retirement age is the age at which you qualify for full, un-reduced benefits. It's based on your date of birth, so it varies for everyone. In 1983, Congress enacted changes that very gradually raised the full retirement age to age 67 by the year 202The full retirement age for people born between 1943 and 1954 is 6For those born in 1955 it is 66 and 2 months and it goes up 2 months per year for those born between 1956 and 195For people born in 1960 and thereafter, the full retirement age is 67. .Action on Capitol Hill slowed down this week as Members of Congress returned to their home states and districts for the week-long holiday recess. Meanwhile, The Senior Citizens League (TSCL) announced its support for Medicare fraud prevention legislation, and one key bill gained a new cosponsor. … Continued

With respect to Ad Servers: The Senior Citizens League does not partner with or have special relationships with any ad server companies. From time to time, we may use customer information for new, unanticipated uses not previously disclosed in our privacy notice. If our information practices change at some time in the future we will post the policy changes to our website to notify you of these changes and provide you with the ability to opt-out of these new uses. If you are concerned about how your information is used, you should check back at our website periodically. .By using reconciliation, it would mean there would have to billions of dollars cut from current spending programs, including Medicare. .Shop around for heartworm and flea preventatives: Heartworms can kill your dog or cat, while fleas and ticks carry dangerous diseases that can be transmitted to humans. While vets often have discount coupons associated with these products, if you want to save more money, it's important to compare prices, especially at pet supply websites such as 1-800- PetMeds, and Chewy.com. Those companies often have much lower prices, especially after discounts are thrown in. .About 75 million people in the U.S. are 60 and older. Recently, about four-fifths of the nation's Covid deaths have occurred in that population. .TSCL is gearing up to fight legislation that would cut the current rate of COLA growth. "People who depend on Social Security need a COLA that more adequately protects the buying power of their benefits," says Hyland. TSCL believes seniors would receive higher and more adequate benefits by using an index that more closely tracks senior spending, like the Consumer Price Index for the Elderly (CPI-E). TSCL supports The Consumer Price Index for Elderly Consumers (CPI-E) Act, H.R. 798 introduced by Rep. Peter DeFazio (OR-4), and H.R.456 introduced by Charles Gonzalez (TX-20). Learn more by visiting TSCL on the web at . .Fight to End Surprise Billing is Losing Key Ally .The plan that Simpson and Bowles outlined this week includes 0 billion in federal health care spending cuts, including a number of Medicare modifications like raising the eligibility age, increasing means testing for high earners, and reducing payments to providers. Simpson and Bowles also recommended the adoption of the "chained" CPI for the calculation of Social Security cost-of-living adjustments (COLAs). The two wrote in a joint statement this week: "This plan begins where the president and the Speaker left off. It's more health care than the Democrats would like, and more revenue that Republicans support. But in our view, it is the minimum size necessary to put the debt on a clear downward path." .Your Initial Enrollment Period starts three months prior to turning age 65, includes the month you turn 65, and ends 3 months after you turn 6Advisor editor Mary Johnson, who has helped dozens of friends and neighbors with their Medicare, highly recommends starting the Medicare enrollment process 3 months before you turn 65, in order to have your new coverage become effective in the month you turn 6Enrolling in Medicare is done online through the Social Security website at www.SocialSecurity.gov. Look for the box that says, "Enroll in Medicare". Or you can get assistance to help you with this. .This week, The Senior Citizens League was pleased to see support grow for three important bills that would strengthen the Social Security program and reduce prescription drug prices for Medicare Part D beneficiaries if signed into law.