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Note any other relevant information and then hang up..If signed into law, the CPI-E Act would amend the Social Security Act with regard to annual cost-of-living adjustments for Social Security and Medicare benefits. Currently, the COLA is based upon the spending patterns of young, urban workers, but Rep. DeFazio's bill would require that COLAs be based upon the way seniors spend their money. The COLA that seniors currently receive does not accurately reflect how they must spend their money, and TSCL estimates that a senior who retired with average benefits in 1984 would have received ,723.16 more through 2011 had the CPI-E been used. We are very supportive of Rep. DeFazio's bill, and we were pleased to see one new cosponsor sign on this week..Can you afford a 24% cut in your Social Security check? Can you afford to pay even more than you do now for your health care after you get a 24% cut in your Social Security?.The Notch that..Applying the payroll tax to all wages over 0,000. Currently, payroll taxes are not paid on income over 8,500, which means millionaires and billionaires pay a much smaller tax rate than everyone else..Since Social Security estimated that you earned 0,320, when you only earned ,200, clearly there is an error. To contest your earnings, dig out a copy of your 2014 W2s and income tax return, the one you filed April 15th of 2015..Someone calls or visits asking for your address or Social Security Number and reads incorrect information that they claim to have for you. This is the typical way in which scammers attempt to bait you into supplying information they want, which includes your address, email address, or Social Security number. Don't take the bait. Never give out your Social Security number to anyone who calls you on the phone or knocks on your door..Stay Informed and Sign up for the TSCL Newsletter.However, according to a message from Congresswoman Abigail Spanberger, she has looked into this and discovered an error in the CARES Act that was passed in March and gave economic aid to individuals and companies in the U.S., that could result in Medicare beneficiaries having to pay out of pocket for a vaccine.

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Medicare - age adults 65 and up, and those who are residents of nursing homes are at especially high risk of complications and death from the COVID-19 coronavirus. About 90 percent of the participants of the new survey, which was conducted online during June and July, are Medicare beneficiaries. Survey response indicates support for strengthening program funding versus no change, or prioritizing healthcare delivery through private insurance plans over traditional Medicare. Only 23 percent of survey participants think that priority should be placed on private insurance plans in order to reduce reliance on federal spending and the need to raise taxes, and just 21 percent think the current level of spending is "about right because we could not have anticipated the scope of the coronavirus pandemic.".This week, The Senior Citizens League was pleased to see support grow for three key bills that would improve the Social Security and Medicare programs..By Jessie Gibbons, Senior Policy Analyst … Continued

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The data certainly suggests this is the case. The years in which inflation as measured by the Consumer Price Index for Workers has been the highest, the difference in the chained CPI was the greatest. The average difference between the CPI-W and the chained CPI is 0.3 tenths of a percentage point. But in 2005 when Hurricane Katrina sent gas prices through the roof, the CPI-W paid a COLA of 4.1% the following year. The chained CPI would only have paid 3.4% - a difference of 0.7 tenths of a percentage point. In 2008 the CPI-W paid a COLA of 5.8% the following year. The chained CPI would have only paid 5.2%, a difference of 0.6 tenths of a percentage point..We want to assure you that we will try to report the facts as we understand them and keep elective politics out of it..The problem of how our government calculates price inflation affects more than just Social Security benefits. The consumer price index is also used to adjust many federal programs and other aspects of our laws such as the federal poverty limits and the federal tax code. By growing more slowly, fewer people qualify for safety net programs, or the federal tax code exemptions become less generous over time, and taxpayers pay more in taxes. … Continued