An untested federal and state Medicare and Medicaid demonstration program is raising concerns that it affects too many low–income seniors, and is growing too fast. Enrollment has far exceeded early expectations and both provider, and advocacy groups are warning that its size would be hard to unwind if the demonstration fails to provide quality services and access to medically necessary services..Late last week, lawmakers in the House passed a budget resolution that lays the groundwork for a repeal of the ACA. Now that both chambers of Congress have adopted the resolution, four committees the House Energy and Commerce Committee, the House Ways and Means Committee, the Senate Finance Committee, and the Senate HELP Committee will begin drafting legislation to repeal the health care law..If signed into law, the bill would take several steps to strengthen the Social Security program. It would make the cost-of-living adjustment more accurate by adopting an inflation index specifically for seniors, increase the minimum Social Security benefit to 125 percent of the poverty line, and enact an across-the-board benefit increase of approximately 2 percent, among other things. It would also responsibly strengthen the program's finances and ensure that the trust fund is fully solvent through the year 2100.."Social Security Administration Actuarial Score," HR. 1314, Stephen Goss, Social Security Administration Office of the Actuary, October 27, 201"Time To Close A Social Security Loophole?" Alicia H. Munnell, Market Watch, March 19, 2014..Social Security Reform Extending the program's solvency without enacting harmful cuts..The Social Security trustees now anticipate that when the old age and survivor fund runs out of money in 2034, it will be able to pay only 76% of the retirement and survivor benefits otherwise due to recipients..To address the growing issue of inaccurate COLAs, TSCL believes Congress must adopt the Consumer Price Index for Elderly Consumers Act. This bipartisan bill from Congressman John Garamendi would better protect the purchasing power of Social Security benefits by basing the COLA on the spending patterns of retirees..The Centers for Medicare and Medicaid Services recently announced that the standard Medicare Part B premium will be 8.50 in 2021, an increase of .90 per month from 4.60 in 2020. That increase, which I earlier feared would be considerably more, was restricted by legislation enacted last fall. But even with legislation.TSCL Plays Role in Preventing Part B Premium Spike in 2021 The annual Social Security cost of living adjustment is just 1.3% this year, making it one of the lowest ever paid. But the standard monthly Medicare Part B premium increased by a modest .90, from 4.60 to 8.50, much less than TSCL initially feared it would be. TSCL's efforts to inform Congress and the.New Legislation Limits Stiff Increase Expected for 2021 Medicare Part B Premium With Medicare outlays spiraling due to outlays for COVID-19, Congress recently passed legislation to head off an expected Part B premium spike, by restricting the increase for 202TSCL has been warning about the potential of a low cost of living adjustment and spiking Medicare premiums since July of this year..This week, Senator John McCain introduced the Safe and Affordable Drugs from Canada Act, which would allow individuals to import prescription drugs from approved pharmacies in Canada. Upon introducing the bill, Senator McCain stated: "This legislation would allow individuals to safely import prescription drugs into the United States from our neighbors to the north, spur much-needed competition in the pharmaceutical market, and save individual Americans up to hundreds of dollars a year." TSCL supports S. 122 enthusiastically, and we look forward to helping build support for it this year.
