month for a 30-day supply, and her drug plan did not cover it. Because she was.More than 1,057 respondents participated in The Senior Citizens League's annual senior survey, which was conducted from January through March of this year. Participants confirmed that monthly household expenses made steep increases over the past year, far in excess of the dollar amount that their COLAs increased benefits. More than half, 56%, indicated their monthly expenses went up by more than Yet 50% of survey respondents said that their COLA increased benefits less than per month, after the increased Part B premium for 2018 was deducted from their Social Security benefits..Nearly 20% of participants in TSCL's Senior Survey say they spent ,100 or more out-of-pocket on prescription drugs in 201And, as we age, all of us face the grim potential that a new health problem could increase our spending on prescription drugs to this level. Doing nothing to lower drug prices for Medicare beneficiaries is not a good option..I was looking forward to saving some money on premiums when I started Medicare. Boy was I surprised when my doctor discovered a new health problem and my out-of-pocket costs jumped instead. How can I budget for this in the future? I'm in a Medicare Advantage plan..TSCL has long supported adding vision, dental and hearing benefits to Medicare, as well as supporting legislation to lower prescription drug prices. We are waiting to see what the final bills look like that come out of the House and Senate before we determine what kind of endorsement to give..A major move is underway to reduce government spending on Social Security by cutting the growth rate in annual cost-of-living adjustments. What would it cost you? Here are answers to some of your most frequently asked questions:.For more tips like these to save on your Medicare costs and to maximize your Social Security benefits, sign up for The Senior Citizens League's Social Security & Medicare Advisor newsletter here or call for more information..The Pelosi bill if enacted would allow Medicare to negotiate drug prices with the pharmaceutical companies in order to lower them..One of the first tax cuts to expire under the recent tax law is likely to disproportionately affect older taxpayers and others with the highest healthcare costs starting in 2019, says The Senior Citizens League. "The medical expense deduction will become less generous in 2019, and that is likely to affect older taxpayers, because they tend to have high medical expenses," says Mary Johnson, a Social Security policy analyst for The Senior Citizens League. "A less generous healthcare cost deduction could mean higher taxable income next year," she cautions.

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However, the swell of seniors who qualify for Medicare has outpaced the number of doctors available to treat them. Every day, an estimated 10,000 Americans turn 65 and become eligible for the government program, the Census Bureau reported..At the end of the day:.In the report released on Wednesday, the trustees estimated that Medicare beneficiaries will see a Part B premium increase of nearly per month next year, from 1.80 to However, due to the hold harmless provision, most beneficiaries will continue paying a monthly premium of 4.90. That's because experts are projecting another record-low Social Security cost-of-living adjustment for 201The trustees estimated that a 0.2 percent COLA will be paid next year, which would amount to a mere per month benefit increase for someone receiving a ,000 monthly check. … Continued

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Congress has only two ways to address long-term funding fixes for Social Security - benefit cuts and tax revenue increases. TSCL surveys indicate that people who receive Social Security don't support most benefit cuts, and feel that the amount that beneficiaries receive isn't adequate to live on over longer retirements. The average benefit received by disabled workers is lower than the average retirement benefit - ,145 vs. ,235..While that part is good news for consumers, TSCL is closely watching to see how these changes may impact Medicare Advantage premiums and emergency room co-insurance costs. And unfortunately, drug costs are likely to continue to shock us unless Congress takes action to address that next!.When the Centers for Medicare and Medicaid Services establish the Part B premium for 2022, they could potentially factor in the expected costs for Aduhelm. Part B premiums were already on track to be higher. The Medicare Trustees recently estimated that Part B premiums would increase to 8.50 in 2022. … Continued

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