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For more tips like these to save on your Medicare costs and to maximize your Social Security benefits, sign up for The Senior Citizens League's Social Security & Medicare Advisor newsletter or call for more information..While 211 Members have signed onto the House bill, critics of the legislation worry about increasing the payroll tax rate - especially on lower income workers. Lawmakers are continuing to discuss alternatives, and TSCL continues to meet with Members of Congress. TSCL's Senior Survey has found 74% of survey participants support completely lifting the taxable maximum and applying the payroll tax to all earnings. About 61% of survey participants support increasing the payroll tax rate by 1% each for workers and employers..By U.S. Senator Tim Kaine.Using this approach would put low to middle benefit recipients on more equal footing. The draw- back however, is that people with higher benefits would experience a benefit cut. They would not receive a COLA based on the benefit that they actually receive, and the dollar amount would be lower than what they would have received under current law. While that loss would be relatively small at first, it would compound and rapidly grow deeper over time. It would tend to lower the total amount of income that retirees with higher benefits could expect to receive from Social Security. This sort of proposed change to the COLA would quite likely encounter fierce push back, particularly from those affected, and even from middle-income people who delayed their retirement perhaps by as much as 4 years or more to allow their benefit to grow to its maximum..for home care, adult day care, as well as assisted living and nursing home care..Shannon Benton, Executive Director.To fix this, I've introduced the FAIR Generics Act, which would stop pay-for-delay deals once and for all. Doing so would make high-quality, lower-priced generic prescription medications available to patients sooner, thus lowering prescription drug prices in numerous cases..Gives you Special Enrollment Periods to enroll or change plans during the year outside of the fall Open Enrollment period..According to the most recent Social Security Trustees report, Social Security already pays out more in benefits than it receives in payroll taxes. In 2019, Social Security paid ,047.9 billion in benefits versus receiving 4.5 billion in payroll tax revenues. Taxation of the benefits of retirees provides another .5 billion in revenues, and .8 billion is money from "interest" earned by the assets of the Social Security Trust funds, special non-marketable bonds. Social Security trustees forecast that the program will be depleted by 2035.