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New Chart From The Senior Citizens League Shows Top 10 Growing Costs For Older Consumers
By Representative Mike Kelly (PA-3) .The age at which you start receiving full Social Security benefits varies depending upon the year you were born. For people like you who turn 66 in 2021, your full retirement age is 66 and two months. For more retirement planning information visit www.SocialSecurity.gov. .Thousands of nursing homes across the country have not been checked to see if staff are following proper procedures to prevent coronavirus transmission, a form of community spread that is responsible for more than a quarter of the nation's Covid-19 fatalities. … Continued
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Notch Legislation Introduced In The 110th Congress Feed
However, price negotiations could be included later this year in a reconciliation bill, a fast-track budgetary move that only needs 51 votes to pass the Senate and cannot be blocked using a filibuster. .Give yourself a Benefits Check Up: If your savings are gone, and you aren't able to get a side job, you might qualify for programs that can help pay for Medicare Part B premiums, drug costs, meals, heating and cooling your home, rental subsidies and other costs. Using the National Council on Aging's Benefits Check Up online tool is simple. You answer a few screening questions and you can get the contact information for programs in your area. .Does Medicare provide coverage for eye care services or eyeglasses? … Continued
Budget Cuts Taking Toll on Congressional Staffs .When Medicare Part B premiums spiked in 2015, Congress was not focused on the adequacy of the COLA. Instead, it was focused on the Medicare Part B funding lost when beneficiaries were protected from paying increased premiums. While the subsequent Medicare Part B premium increase for 2016 was reduced, it was still a very substantial increase of 16%, and all beneficiaries were required to repay the costs in higher Part B premiums in following years. Beneficiaries saw no growth in their net Social Security benefits in 2016, again in 2017 when the COLA was just 0.03% and, about half of all beneficiaries were once again affected in 2018 when a 2% COLA became payable. .Regardless of what the court decides, TSCL believes that Congress needs to enact legislation that would prevent Social Security credits for unauthorized work done under illegal, stolen or invalid Social Security numbers. TSCL supports the No Social Security for Illegal Immigrants Act (H.R. 1716), introduced by Representative Dana Rohrabacher (CA-48). .What Kind Of Health Insurance Do Members of Congress Get? .Last week, in a last ditch attempt to try and come up with new legislation, Secretary of the Treasury Mnuchin and White House Chief of Staff Meadows met with the leaders of the House and Senate see if they could reach a compromise. They could not. One of the big reasons was the overall cost of the legislation and in the amount of money that would be given to those who are unemployed because of the pandemic. .While disability benefits may pay slightly more than early retirement benefits at age 63, starting the disability application and determination process is an arduous, bureaucratic procedure that can take a long time before benefits actually start — sometimes years. Many people find they must hire an attorney. According to data from the Social Security Administration, only one quarter of applicants are determined eligible for disability benefits the first time they apply. Filing an appeal has about 49% chance of succeeding, but the process can result in long waiting periods to be found eligible for benefits, which often takes more than two years. By the time your husband might be found eligible for disability benefits, he may only receive them for a year or two before he would age into his full retirement benefit. .Sources: "Appeals Panel Weighs Fate of Obama's Immigration Overhaul," Michael Shear, The New York Times, April 17, 201"Effects Of Unauthorized Immigration On The Actuarial Status Of The Social Security Trust Funds," Actuarial Note 151, Social Security Administration, April 2013. .TSCL is not the only organization to warn about the prospect of another extremely low COLA next year. The Congressional Budget Office (CBO) in its latest budget report projected that next year's COLA would be 1.6%. Seniors depend on COLAS to protect the buying power of benefits from rising costs over retirement, which can last as long as 25 or 30 years. But over the past five years, COLAs have been at record lows, averaging only 1.4% after averaging about 4% per year since COLAs became automatic in 1975. .Grassley's proposal has long been seen as the most likely major drug pricing legislation to reach Trump's desk. However, conservative groups dislike the bill's cap on drug pricing increases and the legislation's main Democratic sponsor, Sen. Ron Wyden (D-Ore.), recently withdrew from negotiations on the package.