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..Medicare Part D's True Out-of-Pocket-Cost spending requirements which are unusually high as it is, are poised to make a stunning and unprecedented jump in 2020. Unless Congress takes action, the Part D doughnut hole coverage gap will swell by 25% next year, from ,100 in 2019, to ,350 in 2020 before the catastrophic phase of coverage kicks in. This would be the largest increase in Part D's required out–of–pocket spending ever, since the start of the program in 2006..CBO Scores BCRA, Leaders Postpone Vote.You can contribute to more than one IRA. It's possible to have a traditional IRA, one or more 401s and a Roth IRA or Roth 40You can contribute to as many as you want but the total you may contribute is limited to a maximum amount that is adjusted annually and the type of account..The White House budget released earlier this year proposes to establish an out-of-pocket limit to the Part D benefit by phasing down beneficiary co-insurance in the catastrophic coverage phase of the benefit from 5 percent to no-cost sharing over four years, beginning in 201While this is better than nothing, the proposals make other changes shifting significant costs to Part D plans which would likely be passed on to consumers in higher premium costs and higher drug costs for the sickest people who hit the pre-catastrophic Part D gap. One analyst has estimated those costs would average ,000. In addition, there is no proposal at all that would allow Medicare to negotiate drug prices..If Congress fails to prevent a default on the federal debt, older Americans will be impacted in two major ways. First, Social Security benefits would be delayed, and millions of seniors living on fixed incomes would suffer financially. Second, health plans that cover Medicare beneficiaries and providers who treat Medicare patients would likely see postponements in their reimbursements from the federal government. Access to quality medical care could become more difficult for older Americans if that occurs..Social Security Cost of Living Adjustment Ensuring a fair, accurate, and guaranteed COLA..On Tuesday, the Senate Appropriations Subcommittee on Labor, Health and Human Services, and Education approved a 6.8 billion fiscal 2015 spending bill by a voice vote. The bill provides funding to a wide range of health and education programs, and it also covers the administrative expenses of Social Security and Medicare. The Labor-HHS-Education bill is the largest domestic appropriations bill, accounting for nearly one-third of all non-defense discretionary spending..Once the committees finish their work, those in the House will vote on the bill drafted in their chamber, and those in the Senate will vote on theirs. Lawmakers will then be tasked with reconciling the differences between the two. As was mentioned last week, through the budget reconciliation process, the ACA could be repealed by the end of the month with a simple majority in the Senate.
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7 Questions That Must Be Addressed About Social Security.A new analysis from The Senior Citizens League indicates that Social Security checks in 2019 are as much as 18 percent lower due to the impact of extremely low COLAs over the past ten years. From 2000 to 2010, COLAs routinely averaged 3 percent annually. People who have been receiving Social Security benefits since 2009, have only seen a COLA higher than 2.8 percent one time..This week, lawmakers in the House remained in their home districts to continue the summer recess. They are expected to return to Capitol Hill next Tuesday, September 4th. In the days ahead, many Members of Congress will be attending local events and hosting town hall meetings in their home districts. The Senior Citizens League encourages its supporters to attend these events and to ask important questions of their elected officials, like the following five. … Continued
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Key Social Security Bills Gain Support.I've been out of work since late March. The company that I was working for is in the process of declaring bankruptcy, and I haven't found a new job yet. I turn 64 in two months, but if I start Social Security now my retirement benefit would be pretty low..Why is this important for TSCL supporters? … Continued