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Action Call
Increase the retirement age: Raise both the eligibility age both for full benefits, currently at 66 and set to rise to 67 and, for the first time, raise the earliest eligibility age which is currently 62. .The Congressional Budget Office (CBO) recently issued a cost estimate citing the Joint Committee on Taxation's estimates of the cost for Social Security of about 6 billion in reduced SS revenues between 2020 -2021, increased revenues from repayments of 9 billion between 2022-2023, and about billion in higher outlays which would be due to administrative and debt costs. The CBO assumes that some companies will go out of business and would be unable to repay deferred taxes — about billion in Social Security revenues. The CBO warned that uncertainties its estimate of the CARES Act are high, and that actual outcomes could vary significantly. .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. … Continued
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How Rising Medicare Part B Premiums May Impact Your Social Security Benefits
There is widespread support among older Americans for a benefit boost. TSCL surveys have found that 83% of survey participants think Congress should increase Social Security benefits by about 2% of the average benefit, roughly per month (0) in 202Sixty-two percent of survey participants also favor a more generous annual cost of living adjustment (COLA) by tying the annual inflation adjustment to the Consumer-Price Index for the Elderly (CPI-E), and 50% favor enacting a guarantee that COLAs would never be lower than 3%. .Obviously we will continue to push for passage of those bills and keep you updated about their progress as things develop. .Some financial advisors say that there may be some tax advantages to taking money out now while valuations are lower. This information is not intended as investment advice. We strongly recommend that you contact the custodian of your 401(k) or your financial advisor and discuss a plan for your income needs and to explore potential sources of funds. … Continued
Similarly, Sen. Mike Lee (UT) wrote in a statement: "The Fifth Circuit should be commended for its well-reasoned decision to prevent President Obama from implementing his lawless executive amnesty program. Our immigration system is in desperate need of reform. But that reform must be agreed to and passed by Congress, not unilaterally imposed on the American people by the executive branch." ."People should watch for mail from their drug or health plans explaining cost changes for 2018," Johnson says. You can compare plans and make changes during the Medicare Open Enrollment period, which runs October 15th through December 7th. You can get free one-on-one counseling from your state Health Insurance counselors (SHIP) by contacting your local Area on Aging, or senior centers. Ask for help comparing Medicare drug plans. .First, the bipartisan Social Security Fairness Act (S. 521, H.R. 141) gained eight new cosponsors in the Senate and the House, bringing the cosponsor totals up to thirty and 165, respectively. The new cosponsors are: Senator Dianne Feinstein (CA), Senator Kyrsten Sinema (AZ), Representative Sean Casten (IL-6), Representative Susan Davis (CA-53), Representative Elaine Luria (VA-2), Representative Colin Allred (TX-32), Representative Ed Case (HI-1), and Representative Filemon Vela (TX-34). .There are new federal rules that require hospitals to post their pricing information online in order to give patients the information they need to make decisions about their health care. But it turns out that some large hospital systems have been using codes that prevent that information from appearing in online search results. .Here's something hard to believe, but true. Our government is paying Social Security benefits to thousands of Mexicans who don't live in this country, or were never entitled to benefits based on their own work record. A new report from the Social Security Office of Inspector General details the growing problem of thousands of Mexicans who routinely visit the United States once a month to establish a claim to Social Security benefits. .Some issues of controversy inevitably arose at Thursday's hearing, but common ground was also found on the important issue of corporate tax reform. The Joint Committee, which must hold a vote on its final proposal before Thanksgiving, will likely hold a third public hearing in the coming weeks. TSCL will continue to monitor its progress. .Over the past 8 years COLAs have been at record lows, averaging just 1.1 percent. During three of those years there was no COLA at all, and in 2017, the COLA was just 0.3 percent. But inflation, especially for the goods and services used by older Americans, has continued to grow more quickly than annual COLAs. .On Tuesday, the federal government shut down for the first time in seventeen years due to a legislative impasse between leaders in the House and Senate. Four days in, neither side has wavered much from its position. Leaders in the Senate are pressuring the House to pass a "clean" temporary funding measure, while leaders in the House continue to demand provisions that would delay or defund the Affordable Care Act. .In addition, President Obama issued a veto threat earlier this week when he released a Statement of Administration Policy that read: "The Administration is committed to strengthening Medicare for those who depend on it and protection of the public's health. We believe this legislation fails to accomplish these goals."
