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Even more surprising is what isn't showing up on the list - medical costs. The cost of medical care services still increased 2.5 times faster than the COLA, rising by 3.2 percent. That's nothing new. In many years medical costs have increased more rapidly than in 2020. Emergency coronavirus legislation last spring restricted what providers could charge for many COVID-19 related services, and large numbers of patients and their doctors postponed non-urgent care..If you start Social Security benefits too soon, prior to your full retirement age, your benefits may be withheld by as much as ,373.30 due to the earnings test. That's because no matter when you receive your wages in 2017, Social Security will assume that the full ,000 of your 2017 earnings occurred prior to November. Your earnings in excess of the ,880 would be ,000, less ,880 or ,120. Social Security will withhold in benefits for every in excess earnings. The ,120 is divided by 3 and ,373.30 will be withheld from your benefits starting the beginning of the following year..A senior with the average Social Security benefit in 2000 received 6 per month, a figure that rose to ,129.80 by 201However, that senior would require a Social Security benefit of ,477.00 per month in 2013 just to maintain his or her 2000 buying power..Currently the program pays out more in benefits than it receives in cash revenues. The interest on money owed to the Social Security Trust Funds, however, is helping to fund the benefits of today's retirees. But because the government must borrow the amount of money needed to repay funds borrowed from Social Security in the past, that drives up federal spending. Some Members of Congress are saying that benefits must be reduced, or that higher revenues are needed, to reduce the deficit.."There appears to be a broad agreement on the types of healthcare policies that should be in the package, like closing the Medicaid coverage gap and adding dental and vision benefits to Medicare, but details are still being ironed out by committee staff and congressional offices and nothing is certain.".Your answers to these surveys will help TSCL educate Members of Congress, the media and the public about the views, experiences, and challenges facing seniors as they relate to Medicare and Social Security..month for a 30-day supply, and her drug plan did not cover it. Because she was.So even as this is being written there are reports coming that Congressional leaders are close to a deal on both the legislation to fund the government for the remainder of the fiscal year as well as a new coronavirus economic stimulus bill..The Congressional Budget Office recently reviewed a proposal that would boost the taxable amount of Social Security benefits, as one of the options for Congress to consider to reduce the federal deficit. The proposal, which the CBO has reviewed in prior versions of its Options to Reduce the Deficit, would tax Social Security and Railroad Retirement benefits the same way that distributions from defined benefit pensions are taxed. This is expected to increase the taxable income of older Americans.