President Trump's budget includes billion in cuts from the Social Security Disability Insurance program over the next 10 years despite the President's repeated campaign promises that he would not touch Social Security benefits. Trump's budget Director Mick Mulvaney justified the cuts, arguing that SSDI was not technically part of "mainline" Social Security, and therefore the President was not breaking a campaign promise. Said Mulvaney, "If you ask 999 people out of a thousand, they'd tell you Social Security disability is not part of Social Security.".Be sure to check out the TSCL website, for updates to bill co-sponsor lists and for newly introduced legislation. As TSCL continues to work with people on Capitol Hill to make your issues known, your help is also needed and greatly appreciated..According to the new Medicare Trustee Report released in April of this year, Medicare Part B premiums for 2020 are expected to rise .80 from 5.50 to 4.30 in 2020. That would swallow the entire COLA of Social Security recipients with benefits of about 5 or less. According to Social Security data, roughly 4 million low benefit Social Security recipients could be at risk of seeing no growth in their net Social Security benefit due to rising Part B premiums..As with the start of any new Congress, TSCL is encouraging Senators and Representatives to reintroduce and cosponsor key legislation, like the Consumer Price Index for Elderly Consumers Act, the Notch Fairness Act, the No Social Security for Illegal Immigrants Act, and the Social Security Fairness Act. TSCL's legislative agenda for the next two years includes the following issues, among others:.Caregiving, however, is a huge commitment in time and financial resources for the caregiver, who often has to take time off from work, and give up his or her own retirement savings to provide care for others. Although Susan's mom receives Railroad Retirement benefits and has a small savings to reimburse Susan for expenses, Andrew, who is too disabled to ever have ever worked, is dependent on Medicaid and receives only a modest monthly Social Security disability benefit of just Susan and her husband cover all the rest of Andrew's expenses - housing, food, uncovered medical expenses, transportation, clothing, and anything else.."Implications of the Payroll Tax Holiday for Social Security," National Academy of Social Insurance, April 201"'Temporary' tax cuts plentiful, and often long term," USA Today, December 8, 2011..Squeeze your home for cash - If your home can be divided into.Find resources in your community using the Eldercare Locator..Pay off an existing mortgage. When you make additional principal payments on an outstanding mortgage balance, the lower balance will save you interest expense. If you have an amortized fixed-rate mortgage, the monthly amount of the payment doesn't change. With the additional principal payments the loan balance declines and more of your monthly payment goes toward the repayment of principal. You will repay the loan faster than the stated loan term on your contract. You can find mortgage calculators online, to help you determine how extra principal payments reduce your mortgage interest expense and the remaining loan term. When considering pre-paying your mortgage, consider the rates of return. If you were to save the extra cash in a savings account or CD, your rate of return currently is quite low and prepaying your mortgage may give you a better return based on the interest rate of your loan. Financial advisors, however, generally recommend that you pay off your mortgage out of income, and not cash from your retirement accounts. Your retirement accounts provide you with a savings cushion, that most seniors will need later in retirement, and they are protected from creditors.

Medicaid Issue Brief Medicaid Financing Cliff Implications For The Health Care Systems In Puerto Rico And Usvi

The 5 or so million Americans aged 50 to 64 who currently buy insurance on the individual and small business exchanges could compare a Medicare-X plan to those offered by private insurance plansm and choose which works best for them. Guaranteeing Medicare-X in every ZIP code would ensure there's always an option for Americans not yet on Medicare. And, because participants' premiums would cover the full cost of the plan, it wouldn't raise taxes, add to the deficit, or take resources from the Medicare trust fund. Medicare-X would allow price negotiation under Part D, but would not touch the benefits offered through traditional Medicare or Medicare Advantage..Most surviving children would not be eligible for Notch Fairness Act benefits, but the issue should concern every single child of a Notch Baby. Recent Social Security reform proposals to attach a "price index" to the Social Security benefit formula would cut benefits for future retirees in a manner similar to the 1977 changes that led to the Notch. In addition, Congress thus far has taken no constructive non-partisan action to address Social Security's looming shortfall - meaning they may have to make very deep and abrupt cuts when they can no longer stall for time..A report came out this weekend about the possibility of new major cuts to Medicare. This could result because of Senate rules about how many votes it takes to pass legislation. … Continued

Abbott Northwestern Hospital Newsroom

According to the Federal Register "Amounts collected under section 1411 are not designated for the Medicare Trust Fund." The Joint Committee on Taxation in 2011 stated that's because "No provision is made for the transfer of the tax imposed by this provision from the General Fund of the United States Treasury to any Trust Fund.".Opportunity to invest in programs that allow seniors to age in place and maintain their independence..For progress updates on H.R. 1902 or H.R. 1776, visit the Bill Tracking section of TSCL's website. To contact your Members of Congress to request their support for the bills, click HERE. … Continued

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