a more generous cost-of-living adjustment by calculating the annual boost using the Consumer Price Index for the Elderly,.That doesn't even include any other Medicare costs, which are illustrated in the following chart, or costs that aren't covered by Medicare including dental and vision services..A lot is at stake. Members of Congress and President Obama have been considering cuts to Social Security cost-of-living adjustments to lower government spending cuts that still remain on the bargaining table. In addition, the Social Security Disability Insurance Trust Fund will be fully exhausted in just three years, according to the Congressional Budget Office. An immigration amnesty would give new access to Social Security for an estimated 11.5 illegal immigrants currently in the U.S., who would become eligible for benefits that potentially include credit for earnings under fraudulent Social Security numbers..This week, one new cosponsor Rep. Corrine Brown signed on to the Social Security 2100 Act. The total is now up to sixty-four. If signed into law, H.R. 1391 would increase Social Security benefits by 2 percent, cut taxes for over 11 million seniors, increase the minimum benefit to 125 percent of the poverty line, and make COLAs more fair and accurate. It would also take measures to increase the solvency of the trust fund beyond the next seventy-five years, through the year 2100..But those "extraordinary measures" can only last so long. Without congressional action, the Treasury Department will run out of borrowing authority in just a few months and it won't have the funds needed to pay the country's bills including Social Security benefits and Medicare reimbursements..Possibly. A great deal will depend on how much of your 401 and IRA distributions are taxable. A quick way to check is to take one-half of your total Social Security benefits, add to that all taxable pensions, wages, interest, dividends and other taxable income. Then add any tax-exempt interest income. This is called your "provisional" income..In general, distributions from a traditional IRA are taxable in the year you receive them, although there are some exceptions. Thus you would need to figure the full amount of your distribution in figuring your provisional income..Enrollment in the demonstration program far exceeds early target of 1–2 million beneficiaries set by the Centers for Medicare and Medicaid Services. If all 26 state proposals are approved, approximately 3 million dual–eligible beneficiaries, about 40 percent of seniors who receive both Medicare and Medicaid, would be automatically enrolled into new managed–care plans.."Americans Make Hard Choices on Social Security: A Survey With Trade-Off Analysis," National Academy of Social Insurance, October 2014.

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The new Congress has been sworn into office but little in the way of legislation regarding Social Security, Medicare or Medicaid has yet been introduced. As we all are no doubt aware, there have been other things on Congress' plate the last week or two, to say the least. But once President Biden is sworn into office this Wednesday Congress will return and the legislative season will be off and running..The Windfall Elimination Provision and the Government Pension Offset were included in the Social Security Act of 1983 to help shore up the Social Security program. I believe this has done little to secure the program and, instead, unfairly reduces the Social Security benefits of millions of public employees. Earlier this year, I reintroduced legislation, H.R. 973, the Social Security Fairness Act, to repeal these arcane policies..This, of course, keeps the costs of those drugs much higher than if a generic version were available. … Continued

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TSCL does not give money to campaigns for political office and in one way that puts us at a disadvantage as compared with the big corporations. But we have something they do not have: YOU..As our nation begins to deal with the problems of the long-term financing of Social Security, we face some very difficult decisions. To what extent should individuals be required to save for their own retirement and to what extent should the government provide for those who cannot or have not been able to save? Proposals for reform have yet to provide answers..Alexandria, VA deadline is looming for more than 8.9 million disabled Social Security beneficiaries as well as 1.8 million of their children, warns The Senior Citizens League. So far Congress has not made public any long-term plan to head off a 20% cut of Social Security disability benefits that would occur in about two years. "All Social Security beneficiaries are waiting to learn how our newly elected lawmakers intend to remedy the situation," says TSCL Chairman, Ed Cates. … Continued

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