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CPI Data Through August 2012, Bureau of Labor Statistics, September 14, 201Social Security Monthly Statistical Snapshot, Social Security Administration, July, 2012..The program is projected to have enough tax income to pay about 23% less than currently scheduled, according to the Congressional Research Service. But economists warn that without changes to reduce the deficit, the Social Security Trust Fund will get into trouble long before the program is scheduled to become insolvent. Indeed, beneficiaries got a glimpse of what may lay ahead during last summer's battle over the debt limit. According to estimates from the Bi-partisan Policy Center, the federal government did not have sufficient revenues to cover Social Security benefits last August. Congress came within hours of a default on what it owed to the Trust Fund, and thus falling short on money needed to pay benefits before enacting legislation..Senate Panel Discusses the Future of Social Security.In a way that's not news. You already knew prices had been going up and so did we at TSCL. But it's nice to have the facts to back us up..Sixty-two percent of American households include at least one pet. Mine includes two –both a dog and an aging cat. New advances in veterinary medicines are making expensive treatments a reality, often putting owners into an emotional and fiscally painful bind. For example, I learned that my dog with paralysis in her hind quarters from a potentially fatal spinal disc rupture had the option of getting a ,000 surgery, followed by weeks of physical therapy in a swimming tank. My cat with hyperthyroidism is receiving oral medications costing up to 0 per year including blood tests. Even if your pet is perfectly healthy, vet bills for routine annual check-ups, tests, vaccines and treatments can run about 0 per year for dogs and 5 per year for cats..To qualify, you must meet your state's income and asset guidelines. You may qualify if your income in 2012 was at or below the income and resource limits listed below..State and local property taxes up to ,000..Will current beneficiaries and those close to retirement - people age 55 and older - be protected from benefit cuts?.The Senior Citizens League supports legislation that would require a minimum COLA of no less than 3 percent, even in years when inflation falls below that amount. "Strengthening the COLA," Johnson says, "would help slow the drain of drain of retirement savings and help keep older Americans out of poverty." To learn more, visit.

Medicare Slide Prescription Drug Coverage Among Medicare Beneficiaries In 2013

These provisions are outdated and unfair to many seniors, and it's time to repeal them. Workers who paid into Social Security and their spouses should not be penalized and lose earned benefits for working in public service and the private sector. If you paid into Social Security, this is your money, not a government entitlement or subsidy..Action on Capitol Hill this week has been limited as Congress re-convenes on January 17th. Meanwhile, members of the payroll tax Congressional Conference Committee were named, while the Center for Medicare and Medicaid Services announced a plan for increased efficiency and savings..If it weren't for the coronavirus and the start of the vaccination program against it the top news story would probably be the fact that Congress still can't reach a final agreement to keep the government from shutting down. As we indicated in last week's update, they had to pass another one-week Continuing Resolution last Friday in order to give them more time to try and pass the needed legislation. … Continued

Blog Scotus To Decide Hospital Stay Medicare Reimbursement Case

While the CDC recommends that younger people can start getting the seasonal flu vaccine starting in August, it recommends seniors wait until at least September to get theirs. But everyone should have one by the end of October..After more than a decade of failed attempts to repeal and replace the sustainable growth rate the flawed formula that sets payment rates for doctors who treat Medicare patients Congress has finally succeeded in passing legislation to do away with it once and for all. In April, lawmakers in both the House and the Senate adopted a bipartisan bill that will permanently repeal the SGR, provide doctors with modest 0.5 percent payment updates over the next five years, and incentivize payment models that reward the coordination of medical care..For example, if the price of gasoline soars do people spend more on gas for their autos, or make fewer trips? Because Social Security recipients are living on fixed income, they don't always have the leeway to spend more, meaning larger numbers of seniors might drive less. Younger consumers on a budget and people who are out of work, may be in the same boat. And if a lot of consumers are in the same fix, and wind up driving less, this measure is likely to show that inflation didn't increase much, even though the price of gas at the pump is stratospheric. That would mean your COLA wouldn't grow either, even though cost inflation may be soaring. … Continued