In response to Trump's orders, four Senators requested an estimate from the Social Security Administration about what the long-term effect on the viability of Social Security if the tax deferral is made permanent. Last week, the report was released..Health insurers would directly pay providers the difference between the out-of-network rate and the patient's cost-sharing amount for those services. In states that don't have their own systems, the out-of-network rate would be the amount that the provider and insurer agree to through an open negotiation process, or the amount set through an arbitration process..Around 20% of Medicare beneficiaries are also enrolled in Medicaid and receive help from the program to cover long-term nursing home stays. The BCRA would cut Medicaid by more than 0 billion and cap federal spending on the program. How will you ensure access to nursing home care, and can you guarantee that older Americans will not be forced out of skilled nursing facilities due to funding cuts?.In real terms, if a household heating oil tank holds 400 gallons, a fill up in 2000 cost 0. That was slightly more than half the average monthly Social Security benefit of 6 in 2000. The householder still had 6 left to buy groceries and pay for prescriptions. In 2013, the same fill-up cost ,600 - almost 40 percent more than the average monthly benefit of ,14The householder had to take 3 from savings, a line of credit, or another income source to cover the balance of the fill-up..Physicians have another medication at their disposal for treating diabetes after the Food and Drug Administration has now approved a new long-acting insulin product derived from the established drug Lantus..As you might imagine, the Congressional schedule has been totally rearranged. They had scheduled recesses for the national party conventions, their usual August recess, and then for the elections. We assume those are all up-in-the-air now..The CBO estimated last November that if lawmakers wished to raise the amount of covered earnings subject to the payroll tax to 90 percent of covered earnings, then the taxable maximum would need to be set at 6,400 in 2017 and to rise to 5,000 by 202"Legislation was introduced in December that would impose deep benefit cuts," Johnson notes, "but had no provisions to provide new revenues. " "Lifting the taxable maximum cap would provide new revenues to Social Security and it could also provide a modest boost to Social Security benefits, and more adequate COLAs to all people when they retire," Johnson points out. "Our lawmakers should not be allowed to hide this option under the rug," she says. "Raising the payroll taxable maximum is the means of providing greater retirement security and long - term program solvency, " Johnson says. "We can save Social Security without the deep cuts.".TSCL is adamantly opposed to "Chaining the COLA" and continues to fight it. TSCL is gathering the signatures of thousands of seniors. Should the plan achieve passage, TSCL is prepared to lead a national repeal campaign of the same kind that resulted in the immediate repeal of "Medicare Catastrophic" in the late 1980s. To sign a petition or to learn how you can take part in our campaign, visit TSCL on the web at..Lawmakers at this week's hearings on both sides of the aisle seemed committed to working together to stabilize the marketplace in the weeks ahead. In total, thirty-one Senators reached out to lawmakers on the HELP Committee to be included in the discussions, and the bipartisan group hopes to have a stabilization plan drafted by next week and signed into law by the end of September. For progress updates, follow TSCL on Facebook or Twitter.

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If you were born during the Notch period and receive Social Security benefits based on your work record, or that of a Notch Baby spouse, you have been affected by this inequity from your first Social Security check. According to TSCL studies, this disparity costs you on average about ,000 to as much as ,000 per year in lower benefits..It's hard to plan your optimal retirement age without a realistic idea of what to expect in lifetime Social Security income. Yet, according TSCL's 2017 Senior Survey, 71% of survey participants said that's exactly the situation they were in when they filed a claim for Social Security benefits. They did not know, and Social Security did not supply any estimate of what they could expect in total lifetime Social Security income based on their choice of retirement age..Age doesn't matter for contributions to Roth IRAs. Regardless of your age, if you have earned wages you can contribute to a Roth IRA. While the contributions to a Roth will not lower your income for tax purposes, the money you put in will grow tax deferred without any required minimum distributions. And distributions from a Roth won't subject your Social Security benefits to taxation. … Continued

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low - income Medicare beneficiaries whose Part B is paid for by state Medicaid programs, and,.Under current law there are two sets of rules for payment of Social Security benefits to immigrants who worked illegally, depending solely on the date in which the individual was assigned their Social Security number by SSA..President George W. Bush proposed overhauling Social Security into a system of private accounts that would be invested in the stock market. The proposal never was passed into law, due to its unpopularity with the public. Before the proposal could gain traction, the Great Recession pounded the stock market, bringing a temporary end to the idea of investing Social Security payroll taxes into private individual retirement accounts. Between the peak of the stock market on October 9, 2007 and the low in March 2009, equity prices fell 50 percent, proving to many that the fixed benefit structure of Social Security is still desirable. … Continued

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