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By Representative Charlie Wilson.How Social Security Can Be Fixed Without Deep Cuts.Is Dental Insurance Worth The Money?."At the same time Social Security payroll taxes have taken a huge hit due to tens of millions of people out of work, claims for Social Security will grow faster in 2020 than anticipated, as older adults lose their jobs," says Johnson. Before the start of the coronavirus recession, many older workers may have delayed claiming Social Security to allow their benefits to grow. "But those who lose their jobs may have to go ahead and claim Social Security benefits now because they can't afford to wait - especially if their retirement accounts have gone down significantly in value as well," Johnson says..Congress May Consider Ending Two Provisions That Reduce Social Security Benefits of Public Employees.Social Security benefits are one of the few types of retirement income to be automatically adjusted annually for inflation. In 2020, more than 61 million Social Security recipients received a 1.6 percent annual COLA, which raised the average ,460 benefit by .40 per month..By Representative Mike Garcia."Record low growth in Social Security benefits over the past seven years is contributing to the problem," says TSCL Chairman, Ed Cates. Social Security recipients receive an annual cost of living adjustment in most years, to protect the buying power of benefits from rising prices when they retire. But since 2010, the annual raise has averaged just 1.2 percent - less than half the more typical 3 percent average from 1999 2009..The situation is caused by a drop in the average wage index which is used in the Social Security benefit formula. Normally, wages tend to go up year over year. But in 2020, the COVID-19 recession and sudden high unemployment may have caused the index to plummet. This type of benefit reduction is known as a "notch" and these people are the "1960 Notch Baby Boomers."

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Alexandria, VHow would Social Security recipients fix the Social Security Disability Insurance Program? The Senior Citizens League is providing recommendations to Congress this week taken from a national survey of close to 1,200 Americans age 60 and over. Participants overwhelmingly say that they won't support benefit cuts or switching to a more slowly growing cost–of–living adjustment.."My husband passed away September 5, 200What will happen to his lump-sum if they ever decide to pass Notch Reform? What would happen to my lump-sum if I should die now? Would my daughter get it? It seems they are waiting for us all to die.".For the sixth consecutive year, Social Security beneficiaries will receive a cost-of-living adjustment that's a near-record low. Benefits will rise in January by a meager 1.7% after a 1.5% increase in 201In fact, inflation has been growing so slowly that the annual increase has averaged only 1.4% per year since 2010 - less than half the 3 percent average during the prior decade. In 2010 and 2011, benefits didn't increase at all, and a 1.7% increase next year won't pull up the five-year average. … Continued

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A recent report by the Office of Inspector General of the Department of Health and Human Services has also found that high price drugs are affecting federal spending on drugs and increasing federal payments for Medicare Part D catastrophic coverage. Once people hit the catastrophic level of Part D coverage, beneficiaries pay a 5% coinsurance for drugs while the Federal Government pays the vast majority of the remaining costs. But there is no limit. The Inspector General's report said that federal payments for catastrophic coverage in 2015 exceeded .2 billion in 2015, which is more than triple the amount paid in 20Incredibly, only ten high-priced drugs accounted for nearly one-third of all drug spending in catastrophic coverage in 2015..People who are 65 years and older also should be up to date with pneumococcal vaccination to protect against pneumococcal disease, such as pneumonia, meningitis, and bloodstream infections. Talk to your health care provider to find out which pneumococcal vaccines are recommended for you..Verma has an extensive background working with the Medicaid program, but she lacks experience working on complicated Medicare issues. Should Republicans in Congress successfully repeal the ACA as planned, she will oversee the transition period, as well as the implementation of a possible replacement plan. Verma will also be tasked with administering the Medicare program as it navigates a funding crisis caused by the ACA's expected repeal. … Continued