News
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Legislative Update 2
Fifty-one percent said they put off trips to the doctor and other routine medical care, some for months on end. Forty-four percent said they postponed filling prescriptions or were taking less of their medication than prescribed to make it last. .The President Introduces his Plan to Lower Drug Prices .Your responses to our annual Senior Surveys are a key means to helping us convince Congress to move forward on key issues. Please take our 2021 Senior Survey. … Continued
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Benefit Bulletin 3
House Adjourns for Five-Week Summer Recess .In 2015, the last time a zero COLA was announced for the following year, the base Part B premium increase was estimated to be 52 percent.[2] While an increase of that size is not expected for 2021, any double digit increase in Medicare premiums would be unsustainable for many older households whose retirement savings have been negatively impacted by the coronavirus recession. .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. … Continued
Why Mothers and Wives Can Receive Less in Social Security .What do you think? Seniors are invited to participate in TSCL's annual 2014 Senior Survey. For a free 8-page special issue of TSCL's Best Ways to Save, send to cover postage and handling with your name and address to The Senior Citizens League, 1001 N. Fairfax St. 101, Alexandria, VA 22314. .New cosponsors sign on to Social Security Fairness Act .Last year, prescription drug prices grew by 12% nationwide. A rate that high hasn't occurred since 200What do you believe should be done to manage the growing cost increases of prescription drugs? .Nevertheless, Congress is considering ways to "redesign" Medicare. The Congressional Budget Office (CBO) estimates that changing the cost-sharing rules for Medicare and restricting Medigap coverage would save the federal government 4 billion over the next ten years.[1] Medicare supplements, better known as Medigap, cover Medicare's deductibles and other out-of-pocket costs. The plans are popular with seniors because they provide financial certainty by reducing unexpected out-of-pocket expenses. .How Can We Cope With Debt In Retirement? .There is a wide difference in what the White House and Democrats want to give states and localities, plus school funding, virus testing, and other issues. The difference between Democrats' .5 trillion aid package and Republicans' trillion appeared unbridgeable. Treasury Secretary Steven Mnuchin rejected House Speaker Nancy Pelosi's offer of a compromise .4 trillion. As a result, President Trump on Saturday signed what have been largely referred to in the popular press as four executive orders dealing with the issues that had been under discussion. However, it turns out that is not exactly what happened. .Changes to federal immigration policy affect the revenues that Social Security and Medicare receive and would also increase the number of people eligible for benefits in the future, according to the Congressional Budget Office. Both Social Security and Medicare face solvency and funding challenges. .Both bills would stop a premium hike of nearly 50 percent that's scheduled to hit millions of beneficiaries in January. They would also prevent a deductible increase of nearly , from 7 to Most Medicare beneficiaries will not be affected by the increases due to the "hold harmless provision" that protects them in years when premium increases are large enough to reduce their monthly Social Security checks. Since seniors are expected to receive no cost-of-living adjustment (COLA) next year, the premium rates for around 70 percent of beneficiaries will remain unchanged from this year's.