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TSCL's opposition to any Payroll tax cut stems in part from previous comments from some Congressional leaders, including Senate Majority Leader Mitch McConnell In the past he has said:.The deduction is especially important to people age 65 and over, since spending on medical expenses increases with age, and healthcare costs can be considerable. About 23 percent of participants in The Senior Citizens League's 2018 Senior Survey said they routinely itemize medical expenses. A recent report from the non-partisan Kaiser Family Foundation says that Medicare households spent on average ,355 in 2016 on healthcare costs that Medicare doesn't cover. That's equivalent to ,700 in 2018 adjusting for inflation..The Joint Select Committee on Deficit Reduction was created under the Budget Control Act of 2011, and is charged with finding at least .2 trillion in deficit cuts by Thanksgiving. It will likely consider proposals to reform Social Security and Medicare..If you own stocks in a retirement account, make sure the company holding your.The orders are not immediately enforceable. Health officials have been working on ways to implement some of the proposals - namely guidelines for states to implement importation plans. But it is unlikely that any could be finalized before the November presidential election, particularly since the most favored nation plan would not progress for at least a month..As with Social Security and Medicare long-term viability, reducing the high costs of drugs is also at the top on TSCL's agenda this year. These are complicated problems but Congress must find a way to deal with them and TSCL will be fighting for you as these debates continue..Learn all your options for health and drug plans by using Medicare's health plan finder FIRST: We recommend using this tool rather than attempting to check plans or insurers individually, which could rapidly become overwhelming and aggravating. You can contact insurers for details later when you have narrowed down your best bets..Between July 2013 and July 2014, the prices of more than 1,200 generic drugs increased an average of 448%. What do you believe should be done to manage the extreme cost increases of prescription drugs?.We encourage you to attend a town hall, and invite others you know. The future of our retirement and our healthcare benefits rests in our hands.

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"Notch Babies are now at the age where they are more likely to have chronic health problems and require multiple prescriptions," says TSCL Chairman Larry Hyland. "They are finding it difficult to make their lower benefits cover rising Medicare premiums and out-of-pocket costs, let alone all their other rising costs. The time has come to settle this," Hyland says..The Republicans on the committee include: Sens. Jon Kyl, John Barrasso, and Mike Crapo ; and Reps. Tom Price, Nan Hayworth, Renee Ellmers, Dave Camp, Fred Upton, Tom Reed, Kevin Brady, and Greg Walden..An ongoing study of the buying power of Social Security benefits, a special project of TSCL, has found that, since 2000, COLAs increased Social Security benefits by a total of 46%, but the typical expenses of older households grew more than twice as fast - 96.3%. For every 0 a retired household spent in 2000, the same household can only buy about worth of goods and services today. … Continued

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And it could be worse if inflation is lower and Medicare Part B premiums are higher. Due to a special provision of law known as the Social Security hold harmless provision, when the dollar amount of the Medicare Part B premium increase is greater than the dollar amount of an individual's COLA, the Medicare Part B premium is adjusted to prevent a reduction in Social Security benefits from December of the previous year. Those affected by hold harmless wind up with no growth in their net Social Security benefit after the deduction for Part B premiums. That leaves nothing extra left over to deal with other rising costs such as housing and drug costs..Hospitals, which are often the biggest employers in their localities, or even their states, have furloughed workers, and the industry lost an estimated billion a month in foregone surgeries and procedures during the worst part of the pandemic. Hospitals rely on elective surgeries for a major portion of their revenue, because Medicare and private insurers tend to pay more for those procedures than other types of hospital care. Hospitals say they also have lost money in treating COVID-19, because of the amount of intensive care that patients need..Reduce overpayments, fraud and abuse in the system - increase the frequency of continuing disability reviews. A recent audit found that the Social Security Administration had overpaid nearly half of the people receiving disability benefits over the past decade. Continuing disability reviews are conducted periodically to determine if disability recipients still remain eligible for benefits. According to the Social Security Advisory Board, every spent on reviews returns in savings to the program. … Continued