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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..The health premium subsidy will be paid on your behalf directly to your selected insurance plan, and you will get tax credits that reduce the total amount of tax you owe to the IRS. This can mean a bigger refund if you don't owe. The credit begins with insurance that starts January 1, 2014 or later..At what age do you think most people retire? According to the Social Security Administration, the largest group retires at age 62 with reduced benefits! Only 4% wait to start benefits at 70, the age at which they would get the maximum amount. Could the fact that most people file for Social Security benefits so early be simply because they hear so often that they can do so at 62? Does 62 become a distorting anchor on our thinking?.Nearly two-thirds of the spending on prescription drugs by older Americans is for out-of-pocket costs that include deductibles, co-pays and co-insurance. Since the start of Medicare Part D in 2006, out-of-pocket costs grew 188% or roughly 16% per year by the end of 2017, far exceeding the growth in Social Security benefits, that averaged just 1.9% per year over the same period..Alzheimer's Drug Could Increase Part B Premiums for Everyone A newly approved drug to slow the progression of Alzheimer's disease is drawing criticism for it's ,000 price tag, especially given its lack of proven effectiveness. Aduhelm stirred controversy when the Food and Drug Administration's own expert advisory panel was nearly unanimous in opposing the drug's approval due to mixed results in studies of effectiveness..The goal is to prevent fraud and combat identity theft by removing the Social Security numbers from cards and using a unique, randomly assigned number instead. The new cards, which contain a combination of numbers and uppercase letters, will be automatically mailed to all Medicare beneficiaries. There is nothing people need to do to obtain the cards..Will you pay taxes on your Social Security benefits this year? Take TSCL's annual Senior Survey, visit..Members of the House and Senate spent the week in their home states and districts, and will return to Capitol Hill on Monday, February 27th..Rick Delaney, Chairman of the Board, TSCL

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Because of the deficit projections some members of Congress have once again, raised the issue of balancing the federal budget on the backs of senior citizens..Consequently, surprise billing is universally loathed. More than eighty percent of participants in TSCL's 2020 Senior Survey wanted Congress to prohibit surprise medical bills, and the legislation that was signed into law in December prohibits this practice..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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Rescue committees may not even be needed for Social Security. The House is working on The Social Security 2100 Act introduced by Representative John Larson, and has the support of 208 co-sponsors. The bill would provide;.A report about the memo, which was published in Politico, a Washington, D.C., based news service, also stated that the lawyer "and his office late last week instructed administration officials to seek guidance from the DOJ's public integrity section, which deals with election crimes, before moving forward with the drug-discount plan. That has further stalled the plan as the health department waits for DOJ review, said two officials.".Just years before they retired these individuals learned they would have significantly lower benefits than they expected because of amendments to the Social Security Act that were signed into law in 1977 and which have compounded over time. … Continued