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Lawmakers Remain in Recess.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 Bipartisan Policy Center points out in a recent blog, that each of these sources of revenues is negatively impacted by high unemployment. When people are out of work, no payroll taxes are withheld from earnings. A portion of Social Security benefits is taxable when a Social Security recipient has an income higher than ,000 or ,000 for a couple filing jointly. But the coronavirus recession has impacted both earnings from jobs and the value of retirement accounts, so that fewer retirees will meet the income thresholds that make their benefits taxable this year. Finally, the Federal Reserve has responded to the recession by cutting interest rates, which means that the yields on the bonds held by the Social Security Trust Funds are smaller and will provide lower interest income. A recession also causes a higher number of new claims when older workers are forced to retire earlier than planned, raising costs in the short term..Congress Adjourns for Spring Break.Social Security Made Simple: Social Security Retirement Benefits and Related Planning Topics Explained in 100 Pages or Less, Mike Piper, February 2017..Practice using the tool: Have your Medicare number, information about your current coverage, and a complete list of prescription drugs, including dosages and the number you need per month at hand. The Plan Finder will ask you to provide information including your zip code, current Medicare coverage, the drugs you take, the pharmacies you plan to use, and whether you want to see just Part D stand alone plans or Medicare Advantage plans or both. For meaningful results accurately enter all your prescriptions. When complete get your Drug List ID number, print it out and save it. You don't want to enter it again every time you revisit the Plan Finder and invariably you will..Leadership Elections Kick Off "Lame Duck" Session.Consumer Reports makes a good point. When you stick with the higher costing brand, the entire cost of the drug under that plan will apply towards your initial coverage limit, pushing you toward the doughnut hole coverage gap. That raises the chance you will use up your limit before the year's end and you'll pay half the cost of the brand name drug in the doughnut hole, and 79% on any generics. You may want to ask your doctor to prescribe the generic version of the drug whenever available..Medicare drug plan finder at.

Ncsl In Dc Publications And Resources Capitol To Capitol Oct 21 2019

Alexandria, VThe Congressional Budget Office recently released information about Social Security that went unnoticed by the media, and was all but ignored by Congress and President Obama. The part of the program that pays benefits to 11 million disabled workers and dependents will be fully exhausted within three years - nearly 20 years sooner than the retirement program. When that happens, the Social Security trustees estimate that under current law the DI trust fund would have only enough revenues to pay 80% of scheduled benefits..Eliminating the payroll tax is estimated to put more money into the pockets of working people. But at today's savings rates, that could leave even more Americans much worse prepared for retirement than they already are. "By far the biggest winners of this proposal would be the share - holders of the nation's largest employers," Johnson says. "Companies would pocket the 6.2 percent payroll tax they currently spend matching the 6.2 percent withheld from employees, making this one of the biggest corporate tax breaks in our nation's history." "This proposal is an insidious attack on the finances of all Social Security beneficiaries," Johnson says..Transportation: Info and assistance in coordinating shared, non-medical transportation services in your area. … Continued

Infographic Visualizing Health Policy Us Public Opinion On Health Care Reform 2017

An estimated 39 million Medicare beneficiaries spend up to 29 percent of their Social Security benefits on healthcare costs, according to a new survey by The Senior Citizens League. "That's a huge chunk of one's household budget, and chances are that many of those people are paying too much for premiums, deductibles, and out of pocket costs," says Mary Johnson a Medicare policy analyst for The Senior Citizens League. "One of the best financial moves that Medicare beneficiaries can make is to review health and drug plan coverage and compare options during Medicare's Fall Open Enrollment Period, which starts October 15 and runs through December 7, 2021," Johnson says. "For many people, it could potentially save hundreds of dollars, making the difference between having to split pills or going without, versus to covering all prescriptions and still winding up with a little cash left over," says Johnson, who helps her friends and family with the task..Late this week, lawmakers in the House and Senate adjourned for a seven-week summer recess. They are expected to return to Capitol Hill following the Labor Day holiday, on September 6th. In the meantime, most Members of Congress will be holding town hall meetings in their home states and districts, presenting constituents with an excellent opportunity to have their most pressing questions answered before the looming elections..The Democratic Platform Committee approved a plan that would expand the Social Security program "so that every American can retire with dignity and respect." Their document states, "We will fight every effort to cut, privatize, or weaken Social Security, including attempts to raise the retirement age, diminish benefits by cutting cost-of-living adjustments, or reducing earned benefits." … Continued