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On behalf of the Board of Trustees and all TSCL members, we would like to send a hearty "thank-you," to the Members of Congress and their staff for meeting with us..Medicare pays nothing at all for long-term care, and provides only.Such a minimum guarantee would go a long way to protect beneficiaries in years when there is no COLA. Had such a 3% minimum COLA guarantee been in effect since 2009, the average benefit of ,075 in 2009 would be 5 per month/ ,580 year higher today - about 18%. A minimum COLA would also eliminate the problem of benefits remaining flat for years, at a time during periods when Medicare Part B premiums increase more than the COLA raises benefits..But that's not all. Congressional Democrats also want to add dental, vision and hearing coverage to Medicare but that goal is running into resistance from powerful health industry lobbies.."Many older taxpayers probably did not even know they were getting a medical expense tax break for 2017, or this year," Johnson says. The 7.5 percent of AGI threshold was unchanged from what taxpayers age 65 and older paid in 2016, and before. That threshold, however, was formerly scheduled to rise to 10% of AGI in 201"Meanwhile taxpayers younger than 65 could only deduct medical expenses in excess of 10% under the former tax law, and so for that crowd it may have been noticed as a tax break," Johnson notes..bond income. If you haven't already done so, you will also need to discuss when.The low COLA announcement from the trustees comes just weeks after TSCL revealed the findings of its 2016 Survey of Senior Costs. The annual survey examined the cost increases of thirty-eight key items between 2000 and 2016, and it found that Social Security benefits have lost 23 percent of their purchasing power since 2000. During that sixteen-year period, the COLA rose by 36.3 percentage points, while typical senior expenses like housing, Medicare premiums, and prescription drugs jumped 75.3 percent. The findings of the survey are a clear sign that the COLA is growing too slowly, and that it's time to switch to a more accurate measure of inflation like the Consumer Price Index for Elderly Consumers..Right now, every politician in Washington has his or her eye on November. That is when the voters speak and hold their elected officials accountable..Medicare's annual Part D Open Enrollment. Case in point: My client had

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TSCL also supports a second Notch Baby bill that Representative Emerson has introduced in the past - the Notch Baby Health Care Relief Act. That bill would provide a tax credit for the Part B premiums paid by Notch Babies born 1917 through 1926..This week, two new cosponsors Reps. David Cicilline and Steve Cohen signed on to the SAVE Benefits Act, which was recently introduced by Rep. Alan Grayson in the House. If signed into law, the bill would give Social Security beneficiaries a 3.9 percent COLA next year instead of the zero COLA they are expected to receive. It would cover the cost of the emergency COLA and extend the solvency of the Trust Funds by closing a loophole that allows corporations to deduct bonuses for CEOs from their taxes..In years when there has been no, or almost no cost-of-living adjustment, Medicare Part B premiums have spiked significantly. TSCL is highly concerned that another Medicare Part B premium spike could occur again in 202Medicare beneficiaries who are not protected by the special provision of law known as the Social Security "hold harmless" provision could get hit with significantly steeper premium costs in 2021, and it may take several years before the majority of beneficiaries see their net Social Security benefit grow again. … Continued

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To learn more about your benefits and retirement, sign-up for TSCL's free online newsletter, The Social Security & Medicare Advisor..This week, lawmakers in the House passed legislation to repeal the controversial Independent Payment Advisory Board, and The Senior Citizens League announced its support for one new piece of legislation..However, it's not clear whether employers are going to pass the savings on to employees. Since the taxes would be deferred, not waived, several experts question whether firms would actually pass the money along to their workers, because it is the businesses that are on the hook for the taxes. … Continued

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