The record low COLAs in recent years that haven't stopped politicians in Washington from proposing more reductions by using the more slowly- growing "chained" CPI, to calculate COLAs. According to TSCL's online "Chained COLA" calculator, over the first 10 years alone a ,000 per month benefit would lose about ,555 in growth under the proposal..On the other hand, much of the other CPI data has been pretty tame. Housing costs and medical care services are rising, but still more slowly than prior to the pandemic. I'm in the process of collecting price data for TSCL's annual report on the Social Security Loss of Buying Power. If you would like to send in examples of your rising costs, please feel free to do so online at "Share Your Story"..Before 2020 came to an end, a new forecast from the Congressional Budget Office confirmed that Medicare's Part A Hospital Insurance trust fund is running out of money two years earlier than previously expected. The CBO's forecast indicates that there will be insufficient funds to cover all Part A benefits beginning in 2024 - less than 3 years from now..Would this proposal help you? We are interested in hearing what you think. Send us an email at..High Dose Flu Vaccine.According to Representative Roybal-Allard, almost 80 percent of those over the age of 80 suffer from hearing loss, which leads to serious injuries and health problems when left untreated. In addition, nearly 70 percent of older Americans currently have no dental insurance coverage. In a letter of endorsement, Art Cooper Chairman of TSCL's Board of Trustees wrote: "It is essential for older Americans to receive the preventive care and treatment that is needed to maintain their dignity and ensure good health in retirement … Your bill would improve access to care for millions of older Americans, and we believe it would go a long way in ensuring the retirement security senior citizens have earned and deserve.".Democrats have delayed the start of the program in part because of its cost and an agreement to limit the overall spending in the Biden budget bill to .5 trillion. There is some talk on Capitol Hill of offering seniors limited vouchers to use toward dental benefits before 2028 as a compromise..If your employer has less than 20 employers, beware. By law Medicare is the "first payer" of health insurance policies of small companies. This means you and your wife will need to enroll in Medicare in order for your healthcare claims to be covered. If you work for a company with less than 20 employees and try to file a claim, your insurer can deny it because Medicare is supposed to pay since you are Medicare-eligible. Because you and your wife are over 65, the government considers you Medicare-eligible, whether you have enrolled or not.."The breadth of the spending highlights the drug industry's continued clout in Washington. Even after years of criticism from Congress and the White House over high prices, it remains routine for the elected officials who regulate the health care industry to accept six-figure sums."

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Finally, one new cosponsor signed on to Rep. Allyson Schwartz's Medicare Physician Payment Innovation Act this week. Rep. Bob Filner announced his support, bringing the total up to twenty-eight..Will you pay taxes on your Social Security benefits this year? Take TSCL's annual Senior Survey, visit..Would a Higher Cost-of-Living-Adjustment in Social Security Make Me Ineligible for Medicaid? … Continued

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Medicare Part D prescription drug coverage hit a new milestone this year. The highly - loathed "doughnut hole" or "coverage gap" closed this year. But that doesn't mean prescriptions will be free. The co-insurance in the former Part D doughnut hole dropped to 25% of all drug costs. That's the good news. But the out of pocket spending that's required to qualify for catastrophic drug coverage took a big jump, from ,100 in 2019, to ,350 an increase of ,250. That's the biggest jump in the out-of-pocket threshold since the start of Part D in 2006..While the legislation made some changes to Social Security and did not cut benefits of any current retirees, it did end a complicated benefit claiming strategy known as "file and suspend" for people very close to retirement. Although the legislation closes an unintended "loophole," the strategy was one of the few means married couples had to maximize their payouts. A similar provision was contained in Obama's 2015 fiscal year budget and was estimated to cut Social Security costs by as much as .5 billion annually..However, some advisors have said it would be unwise for Biden to clean house. The board currently has four Republican governors, two Democratic governors and three vacancies. … Continued

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