Refinancing a mortgage in retirement is a "special needs" situation. TSCL highly recommends that this should be discussed with an unbiased financial advisor..in 2011 by switching drug plans. She was able to enroll in a plan that provided.Because Medicare is such a crucial program, most members of Congress usually stumble over themselves to protect it. However, if the situation ever presents itself, they will use threats to Medicare to bash the other party..Pay off an existing mortgage. When you make additional principal payments on an outstanding mortgage balance, the lower balance will save you interest expense. If you have an amortized fixed-rate mortgage, the monthly amount of the payment doesn't change. With the additional principal payments the loan balance declines and more of your monthly payment goes toward the repayment of principal. You will repay the loan faster than the stated loan term on your contract. You can find mortgage calculators online, to help you determine how extra principal payments reduce your mortgage interest expense and the remaining loan term. When considering pre-paying your mortgage, consider the rates of return. If you were to save the extra cash in a savings account or CD, your rate of return currently is quite low and prepaying your mortgage may give you a better return based on the interest rate of your loan. Financial advisors, however, generally recommend that you pay off your mortgage out of income, and not cash from your retirement accounts. Your retirement accounts provide you with a savings cushion, that most seniors will need later in retirement, and they are protected from creditors..On Monday, with a vote mostly along party lines of 55-43, lawmakers in the Senate confirmed the nomination of Seema Verma, who now serves as the administrator of the trillion agency that has jurisdiction over Medicare and Medicaid. Previously, Verma worked as a health care consultant, and she played a leading role in redesigning Indiana's Medicaid program under then-Governor Mike Pence..This is exactly the wrong approach. Social Security is about economics, but it is also about our values. It's about who we are as a people, and what kind of country we are determined to build. Every person who represents you in Washington should be talking about protecting and expanding Social Security not cutting it..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..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.".Many enrollees in traditional Medicare have purchased a supplemental Medigap policy that covers the out - of - pocket expenses of Part B. Premiums for those policies could also rise as insurers anticipate higher outlays for costs associated with Aduhelm. On the other hand, out - of - pocket costs would be the big cost issue for enrollees in Medicare Advantage plans. According to experts at Kaiser Family Foundation, 500 thousand patients taking Aduhelm could add about per month to the Medicare Part B premium, which in 2021 is 8.50 for most beneficiaries, to as much as 5 a month for higher income beneficiaries who pay a surtax on their premium.

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The idea is to cut government spending on Medicare by limiting the annual growth of the Medicare voucher to the growth of the gross domestic product plus one percentage point. However, for the last 40 years national healthcare spending has exceeded the growth of the gross domestic product by more than two percentage points, and TSCL is highly concerned that the vouchers would rapidly become increasingly inadequate to purchase sufficient coverage or that seniors would face significantly higher premiums. In addition, the CBO recently wrote that the average age and cost of enrollees remaining in the current system would increase over time, and TSCL believes that would lead to far higher premiums for older beneficiaries as well..This week, the Senate Judiciary Committee approved the "Gang of Eight's" immigration reform bill by a vote of thirteen to five. In addition, two House Ways and Means Subcommittees held hearings on entitlement reform, and The Senior Citizens League saw support grow for four key bills..Low-income "dual-eligibles" - Medicare beneficiaries whose incomes are so low that they are also eligible for Medicaid. Part B premiums are paid on their behalf by state Medicaid programs. … Continued

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This cost shift hits includes retirees with the lowest incomes. Specifically it hits their state Medicaid budgets that pay Part B premiums for low-income Medicare beneficiaries - about 19% of all Medicare recipients. If Medicare Part B premiums go up by more than .40 per month in 2021, that would add yet another fiscal shock to state budgets that are already strained to the limit due to the coronavirus pandemic..Today millions of older women are depending on insufficient Social Security benefits to get them through a retirement that can stretch up to 30 years. Low benefits mean people have to spend more of their retirement savings at a faster pace than anticipated..The Windfall Elimination Provision and the Government Pension Offset were included in the Social Security Act of 1983 to help shore up the Social Security program. I believe this has done little to secure the program and, instead, unfairly reduces the Social Security benefits of millions of public employees. Earlier this year, I reintroduced legislation, H.R. 973, the Social Security Fairness Act, to repeal these arcane policies. … Continued

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