If true, how much would Social Security's financing be improved?.Those born during the Notch period "saved Social Security" by receiving lower benefits for the rest of their lives. They are the generation that fought and sacrificed during World War II. Now, although they receive lower benefits, they are among the senior age group hit hardest by escalating health care insurance premiums and prescription drug costs..On Monday, President Obama released his .066 trillion budget blueprint for fiscal 201His plan puts an end to the so-called "sequester" and increases spending for defense and discretionary programs by 7 percent. Upon releasing the blueprint, he said, "I'm not going to accept a budget that locks in sequestration going forward. It would be bad for our security and bad for our growth. I want to work with Congress to replace mindless austerity with smart investments.".If he should choose to veto the bill all bets are off as to what would happen next.."Are You a Hospital Inpatient or Outpatient?" CMS, December 2009, Product No. 11435..Under growing pressure to reduce the federal debt, Congress is considering a new Medicare proposal that would shift the risk of rising costs that outpace spending targets set by the government to seniors and the disabled. The proposal comes from a key recommendation of President Obama's Fiscal Commission..McCaskill is calling on drug companies and doctors to scale back their financial relationships, and believes that, if necessary, Congress should step in to stiffen federal laws banning doctors from receiving gifts from such companies..Subcommittee Chairman Sam Johnson explained the origin of the issue in his opening statement, saying: "Both the House and Senate wanted to modify the benefit formula for those workers who spent part of their careers not paying Social Security taxes. I guess it should come as no surprise that the House and Senate didn't agree on the numbers … As tends to happen here they ended up somewhere in the middle.".That fear comes from the fact that some of those same lawmakers who are demanding action on the bipartisan infrastructure bill ahead of the reconciliation package have also expressed misgivings with taking on drug-pricing changes without Republican support.

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For a big eye-opener on how illegal immigrants can become entitled to Social Security under current law and for information on Social Security's totalization agreement with Mexico, read Social Security Benefits For Noncitizens, from the non-partisan Congressional Research Service, Publication No. RL32004..A second strategy that was changed permitted married couples who reached full retirement age to file a "restricted application" which allowed individuals to collect only a spousal benefit, while their own benefits continued to increase. Unlike file and suspend, this change applies to people younger than age 62 by the end of 2015, so you still can take advantage of some planning to maximize what you get..Social Security is a promise that the federal government made to its citizens. It is a promise that millions of Americans depend on, and one that must be there for them when they retire. I am the proud sponsor of H.R. 141, and I look forward to continuing to work with my colleagues on both sides of the aisle to ensure that we keep the promises we made to our public-sector employees. … Continued

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The Biden administration announced last week that it will begin distributing a limited number of Covid-19 vaccine doses directly to retail pharmacies across the nation..That said until you crunch the numbers it's hard to say whether itemizing your medical expenses or taking the standard deduction would be the better option..Almost 70 percent of beneficiaries depend on Social Security for 50 percent or more of their income. Social Security is the sole source of income for 15 percent of beneficiaries. … Continued

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