Social Security's finances depend largely on payroll taxes, tying the strength of Social Security to the strength of the U.S. economy. The U.S. unemployment rate was more than 13.3% through May. That was worse than the 2009 Great Recession, when the unemployment rate reached a peak of 10.6% in January 20With 20.5 million people out of work, combined with a higher number of new claims for benefits as older unemployed workers turn to Social Security, there will be a significant impact on the finances of the Social Security Trust Funds. The degree of the impact depends on how long it takes to get our economy safely up and running again..TSCL is also highly concerned that the candidates are not talking enough about protecting the annual COLA from cuts. During the recent 2011 debt limit talks with House Speaker John Boehner, President Obama floated a debt reduction plan that would have reduced government spending annual increase by using the chained Consumer Price Index to calculate the COLA..If adopted, S. 99 would provide for the negotiation of lower covered Part D drug prices on behalf of Medicare beneficiaries and the establishment of a formulary by the Secretary of Health and Human Services under Medicare Part D..I turn 65 next year, and have very good healthcare coverage through my husband's employer. I need Humira for rheumatoid arthritis. The drug retails for more than ,250 a dose, which I require monthly. My husband's plan normally has a co-pay of 0 for Humira, but through a special arrangement I'm required to pay only $Do I have to give up this coverage when I sign up for Medicare?.Under the 'Ryan Budget,' Medicare would be turned into a private voucher program. But these vouchers are unlikely to keep up with healthcare costs, and could require seniors to pay more out-of-pocket for their healthcare. In fact, the non-partisan Congressional Budget Office estimates that by 2030, seniors would be paying nearly 70% of their health care costs out-of-pocket, with the vouchers picking up only 30% of the bill. It has also been estimated that seniors would end up paying up to ,400 extra for healthcare each year under the Ryan Budget..ROTH IRAs require that you take distributions by age 70 and a half or pay a.How can illegal immigrants get Social Security? They don't pay taxes!.New rules prohibit insurers from rejecting applicants with pre-existing health problems or charging you more based on your health history. The law also sets limits on how much insurers may charge older buyers. Premiums for a 64-year-old can be no more than three times as much as they are for a 21-year-old. However, concerns are widespread that insurance costs could still be challenging for many seniors..Flu vaccination is especially important for people 65 years and older because they are at high risk of developing serious complications from flu. Flu vaccines are updated each season as needed to keep up with changing viruses. Also, immunity wanes over a year so annual vaccination is needed to ensure the best possible protection against flu. A flu vaccine protects against the flu viruses that research indicates will be most common during the upcoming season. Flu vaccines for 2020-2021 have been updated from last season's vaccine to better match circulating viruses. Immunity from vaccination fully sets in after about two weeks.
