Nearly 20% of participants in TSCL's Senior Survey say they spent ,100 or more out-of-pocket on prescription drugs in 201And, as we age, all of us face the grim potential that a new health problem could increase our spending on prescription drugs to this level. Doing nothing to lower drug prices for Medicare beneficiaries is not a good option..The Trustees estimated that Social Security's Old-Age and Survivors Insurance trust fund, which funds the retirement program, will be able to pay out full benefits until 2035 one year longer than last year's projection. They also found that Medicare's Hospital Insurance trust fund will remain solvent until 2030 the same as last year's projection and that enrollee costs are growing at historically low levels, especially for Parts A and D..As an indicator of low inflation, based on consumer price index data through April of this year, Johnson estimates that the COLA for 2019 will be about 1.7%percent. That number could change, since there are still five months of consumer price index data to be collected before the Social Security Administration announces the COLA in October..The Democratic Platform.Because of the deficit projections some members of Congress have once again, raised the issue of balancing the federal budget on the backs of senior citizens..The Biden administration announced last week that it will begin distributing a limited number of Covid-19 vaccine doses directly to retail pharmacies across the nation..TSCL continues to meet with Members of Congress this year asking them to support provisions that would bar payment of Social Security benefits based on illegal work. Stay up-to-date, sign up for TSCL's e-alerts and e-newsletters..For the past several years, Social Security's Disability Insurance program has been facing financing challenges. In the fall of 2015, lawmakers took action to prevent a 19% benefit cut that would have affected 10 million disabled enrollees and dependents, extending the program's solvency past 201However, more work remains before the program can be considered financially stable. In September, lawmakers on the House Ways and Means Social Security Subcommittee took the first steps toward improving the program's solvency when they held a hearing to discuss its future..Choose a benefit period. The average stay for people in assisted living is 28 months, so you may want to consider a longer benefit.
