The President's order halts the collection of Payroll taxes from Sept. 1 through the end of the year. In addition, he instructed the Treasury Department to look into how the government can forgive the deferred tax payment permanently because as things stand right now the taxes must be repaid after the first of the year..A survey by The Senior Citizens League indicates that Social Security benefits have lost more than one-third of their purchasing power over the past decade. Do you support calculating the COLA using an index that more accurately measures seniors' cost of living?.facility, or nursing home, long-term care is very expensive. Nursing home care.TSCL is especially concerned about how seniors and their families would be informed about the change of health plans. Dual eligible seniors are more likely to have cognitive challenges, and their family caregivers may not understand that a transition to a new health plan is taking place, or how to navigate the changes. TSCL is particularly concerned that seniors may not be able to keep their former doctors and other healthcare providers if those providers don't participate under the new plans. If so, this raises the potential for unintended and uncovered costs, if seniors unwittingly continue to see their former doctor or present the wrong health plan card when visiting providers..people who are still working and pay Medicare Part B by check,.If your company has less than 20 employees, you can sign up for Medicare now during the General Enrollment Period between January 1 March 31 each year. Your coverage will begin July 1, 2013..and puts the coverage of low-income older adults who receive Medicaid in jeopardy, including the majority of the nation's nursing home patients."."The 6.7 percent increase in the Part B premium is the largest since 2006 for a year in which a COLA is payable," Johnson says. There have been bigger jumps in Part B premiums as recently as 2016 and 2017, but those were two years in which there was no or almost no COLA paid. This situation can cause unusually high Part B premium spikes..TSCL is pleased that after more than a decade, lawmakers have finally passed legislation to repeal and replace the SGR once and for all. The SGR has not worked as it was intended to since 2003, and seventeen times it has called for steep physician pay cuts, threatening access to quality medical care for seniors. We are hopeful that the new system will bring increased stability to the Medicare program.

Blog Corrections Reform Leaders Share Experience

Senate Returns to Washington.How Can I Budget For Healthcare Expenses When I Don't Know What They Will Be?.Washington, DC) How is the pandemic affecting retirement savings? Forty - eight percent of retirees with retirement accounts say that their savings have not recovered pre-pandemic levels, according to a new survey by The Senior Citizens League. "There's no doubt about it, the Coronavirus - caused recession is forcing many older adults to rethink retirement plans," says Mary Johnson, Social Security and Medicare policy analyst for The Senior Citizens League. "While the U.S. stock market ended 2020 at an all - time high, the retirement savings held by many retired adults do not appear to have benefited from the run up," Johnson says. "This is exactly why the guaranteed income nature of Social Security is so important," she notes. … Continued

Hospital Overview

The I.O.U.s in the Social Security Trust Fund are a special type of non-marketable bond issued by the U.S. Treasury when excess revenues are received. The cash revenue that isn't needed to pay benefits is "borrowed" and used for other government spending. By law, the I.O.U.s held by the Trust Fund pay interest, and that forms an additional source of income - on paper, at least..It was always expected that few if any Republicans in the House of Representatives would support legislation to lower drug prices. But it turns out that a group of moderate Democrats has now said they do not support the sweeping legislation that Democratic leaders in the House have proposed..That said until you crunch the numbers it's hard to say whether itemizing your medical expenses or taking the standard deduction would be the better option. … Continued

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