The problem is that most retired individuals don't have 0,000 to set aside just for healthcare. According to the Employees Benefit Research Institute, the average person in their 60s who has contributed to a 401 for more than 30 years only has about 5,000 for all retirement expenses. But that's just counting the people who do have retirement accounts - and millions do not. According to the U.S. Government Accountability Office, 60% of all U.S. households have no retirement savings at all..TSCL thus believes that the DREAM Act may ultimately lead to a tsunami of new Social Security disability and retirement claims, as well as swelling the Medicare rolls. The 2004 Social Security Protection Act requires that noncitizens assigned Social Security numbers after January 1, 2004, must have work authorization in order to file a claim for benefits. Once work authorization documents are provided, however, the Social Security Administration would then determine entitlement for benefits on all earnings, even including jobs performed while illegal. If the green card holder proves evidence of the jobs worked, like W2s, even under invalid Social Security numbers the earnings would be applied to their new Social Security number..This week, the American Health Care Act continued to advance through the House, and lawmakers in the Senate voted to confirm Seema Verma as the new administrator of the Centers for Medicare and Medicaid Services..Here's how one TSCL-backed proposal the Social Security 2100 Act would restore the program's solvency through the next century while strengthening benefits for older Americans.."While most of the provisions were supported by TSCL, we in no way support using Social Security and Medicare benefits as hostages in exchange for lifting the debt limit," says TSCL Chairman Ed Cates..The House Democratic bill would allow Medicare to negotiate drug prices, and then force drug companies to lower the prices they charge private insurers or impose huge fines on the companies. Pelosi said she wants it to be part of a special budget bill that can pass the Senate without Republican support since it is immune from the filibuster..While budget resolutions don't have the force of law, the agreements set out the U.S. fiscal year budget and serve as a blueprint for subsequent legislation. The House resolution also includes reconciliation instructions for the GOP's tax reform plan, but the resolution has been stalled due to disagreements over mandatory spending that includes Social Security, Medicare, and Medicaid among others..Under the proposed House budget resolution, a Social Security "reform trigger" would be pulled in any year the Social Security Trustees determine the 75-year actuarial balance of the Social Security Trust Fund is in deficit. The resolution would also put any legislation on an expedited schedule for passage..This week was a busy one for Social Security and Medicare Advocates! There was considerable activity to combat the high cost of prescription drugs. The Ways and Means Committee had a hearing on the Social Security 2100 Act. And, work continues on repealing the Windfall Elimination Provision.
