"The drug is essential," Heyman testified. "People can die without it… The drug company deserves the right to make a profit. But it is unconscionable that one company, Valeant, can hold Wilson Disease patients hostage," she said in her testimony..The situation is caused by a drop in the average wage index which is used in the Social Security benefit formula. Normally, wages tend to go up year over year. But in 2020, the COVID-19 recession and sudden high unemployment may have caused the index to plummet. This type of benefit reduction is known as a "notch" and these people are the "1960 Notch Baby Boomers.".Members named to Congressional Conference Committee.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..Before making such a major decision, we strongly recommend that you get free, one-on-one counseling from your State Health Insurance Program Medicare Counselor. Your counselor can help you compare plans to ensure that the choice you're considering is right for you. Many local area agencies on aging or senior centers host counseling programs..Is this fair? Should Congress change the indexing of the Social Security COLA to strengthen Social Security benefits? Click here to take our new 2019 Social Security survey..The government negotiates prescription drug prices for veterans and Medicaid beneficiaries, but it is barred from negotiating lower prices for Medicare beneficiaries. As a result, seniors enrolled in Part D often pay much higher prices than other Americans for their prescription drugs. What are you doing to correct this unfair policy?.The less painful alternatives are: bringing new state and local workers into the Social Security system, gradually raising the payroll tax cap to its originally intended level, and raising the retirement age..On Monday evening, Senator John Cornyn told reporters that the Senate's bill would include major differences from the House version. He said: "We're going to start from scratch, really. It's helpful for us to have [House lawmakers] go first to see the kind of issues that come up and anticipate those in the Finance Committee markup. But I'm still pretty optimistic we'll get this done before Thanksgiving."

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In addition, one new cosponsor Rep. Steve Cohen signed on to the bipartisan CPI for Seniors Act. The cosponsor total is now at three in the House. If adopted, it would mandate the monthly formulation and publication of a consumer price index specifically for seniors. Currently, Social Security cost-of-living adjustments are based on the inflation experienced by young, urban workers, but H.R. 2016 would establish a more accurate index for beneficiaries..TSCL's Take.To learn more about deducting medical expenses, see IRS publication 502, which can be downloaded at. … Continued

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"Greenspan Calls For Repeal Of All The Bush Tax Cuts," Sewell Chan, The New York Times, August 6, 2010..It also depends on the willingness of the American people to get the vaccine shot. Right now, there seems to be a reluctance among people because of, among other things, the uncertainty about the safety of a vaccine that has been rushed to market. It is a special concern for seniors because they do not often respond as well to medicines, including vaccines, as younger people do.."Like health care legislation to repeal and replace Obamacare, Social Security and Medicare reform proposals could become the center of a nasty political tug-of-war," Johnson says. TSCL works to protect retirement security and to promote better adequacy of both Social Security and Medicare benefits. To learn more, visit. … Continued

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