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Two new cosponsors Senator Cory Booker and Senator Deb Fischer signed on to the bipartisan CREATES Act, bringing the total up to thirty in the Senate. If adopted, the bill would increase competition in the prescription drug industry by encouraging generic and biosimilar drug manufacturers to introduce their products to the market more quickly..This week, President Obama sent his fiscal 2016 budget blueprint to Congress, and The Senior Citizens League saw one new cosponsor sign on to the Notch Fairness Act..Congressional Recess Begins.By Representative Cheri Bustos.Sen. Bernie Sanders introduced S. 2023 on September 10, 201It has since been referred to the Committee on Finance..According to TSCL's Senior Surveys, more than half of retiree households pay taxes on Social Security benefits. The new tax law did not change the income thresholds that subject Social Security benefits to taxation. Taxpayers with incomes in excess of ,000 or ,000 pay taxes on as much as 50% of Social Security benefits. For taxpayers with income exceeding ,000 and ,000, up to 85% of Social Security benefits may be taxed. Rather than paying quarterly estimates, taxpayers may use Form W-4V to withhold a flat rate from Social Security checks: 7%, 10%, 12%, or 22%..Out-of-pocket costs for deductibles, co-pays and co-insurance..The coronavirus emergency spending bill that Congress just passed was not "paid for," in Washington's language. It was added to the deficit, which means the government will borrow the money to pay for it..One witness, Scott Serota, President and CEO of the BlueCross BlueShield Association, suggested a gradual shift from the current fee-for-service system toward a series of new payment models that would allow for geographic variability. Another witness, David Bronson, President of the American College of Physicians, suggested a patient-centered medical home model, where each patient would choose a physician with a specific team of caregivers. He explained that his model would result in better coordinated care for seniors.

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In April, the Medicare Trustees estimated that the standard monthly Medicare Part B premium, which covers doctors and outpatient services, would rise .70 - from 4.60 in 2020, to 3.30 in 202The April forecast, however, was made prior to the coronavirus, and did not factor in the impact of COVID-19 on expected medical costs or inflation..Compare the least expensive way to buy. - No matter how you buy it, fresh, frozen, or canned, most fruits and vegetables tend to be sold by the pound A more accurate price for comparison is the cost per serving. For example, part of the weight of canned goods is packing liquid and as a result most have fewer servings per pound than fresh or frozen counterparts..The chances are high that the next president of the United States will sign into law legislation that reforms the Social Security program and extends the solvency of the trust fund beyond 2034, its projected year of exhaustion. For years leaders in Washington have been authoring sweeping plans that would enact major benefit cuts like reduced cost-of-living adjustments or increased eligibility ages in order to strengthen the financing of the program. But the unpopularity of those plans with voters ensured those plans never went anywhere. … Continued

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plans with similar coverage caps or the maximum amount that the plans will pay..According to Bloomberg Government, members of the House Appropriations Committee are still negotiating the spending limits for each subcommittee, and they are far from a deal. House Minority Whip Steny Hoyer told reporters this week that he's doubtful Congress will finish the omnibus before the looming deadline..If signed into law, S. 1904 would strengthen Social Security benefits by enacting an across-the-board benefit increase, adopting the Consumer Price Index for Elderly Consumers, increasing the minimum Social Security benefit to 125 percent of the poverty line, and increasing the threshold on the taxation of Social Security benefits. It would also strengthen the solvency of the trust funds by applying the payroll tax to income over 0,000, increasing the payroll tax rate by 0.05 percent annually until it reaches 7.65 percent, and reallocating funds to the Disability Insurance trust fund. … Continued