The proposal to cut the growth of COLAs formed a major Social Security reform provision of President Obama's 2010 Fiscal Commission. It would reduce the growth rate in COLAs by switching to the more slowly-growing "chained" CPI. "The switch is insidious because it's enormously complicated to figure out, and it looks so small on paper - just 0.03 tenths of a percentage point," Hyland observes. "But the loss compounds over time. Within a decade it would have a significant financial punch that just keeps getting bigger," Hyland explains. The following chart provided by TSCL illustrates the impact of a chained CPI on a married couple's Social Security benefits, which start at a total of ,500 per month today, and how their benefits change over the first ten years. After ten years the chained CPI would reduce benefits by per month, and would cut benefits by ,488 over the ten-year period..It is possible there could also be another emergency spending bill or, as we reported above, even a full-blown stimulus to try and keep the economy going..Finally, three new cosponsors signed on to the Improving Access to Medicare Coverage Act, bringing the total up to one hundred and fifty-one. The new cosponsors are Reps. Henry Cuellar, Leonard Lance, and Charles Rangel. If signed into law, H.R. 1179 would amend current Medicare policy to count hospital stays under "observation status" towards the three-day requirement for skilled nursing care. Currently, those under "observation status" don't qualify for coverage of the benefit, and they are often hit with large, unexpected bills after receiving necessary medical care..With both chambers of Congress adjourned, the 113th Congress has officially come to a close. Lawmakers are expected to return to Capitol Hill on Monday, January 5th, to begin the first session of the 114th Congress. TSCL looks forward to working with both new and veteran lawmakers in the New Year, and we will continue to advocate tirelessly on behalf of our members and supporters in 2015..This week, the Senate Finance Committee voted to advance the nomination of Sylvia Mathews Burwell as the next Secretary of the Department of Health and Human Services. In addition, one subcommittee held a hearing on strengthening the Social Security program, and The Senior Citizens League saw one key bill gain support..This week, lawmakers in the House and Senate continued working on legislation that would comprehensively reform the tax code. In addition, The Senior Citizens League saw support grow for one key bill that would comprehensively reform the prescription drug industry..The TSCL poll found seniors were closely split over the two other leading approaches to address the disability program's solvency. Forty-eight percent favored tightening Social Security's disability eligibility requirements and conducting more annual eligibility reviews to reduce fraud. Fifty-one percent favor requiring high wage earners to pay Social Security taxes on all of their incomes. "TSCL believes that the only way Congress will forge an agreement is through bipartisan efforts that use a combination of the two approaches," Cates states. What do you think about issues affecting seniors? Take a poll. Visit TSCL's website at..Would it Be Advantageous for Me to Take a Divorced Spouse Benefit?.This week, members of the bicameral budget conference seemed to hit an impasse, and The Senior Citizens League announced its support for the Social Security and Medicare Lock-Box Act. In addition, two key bills gained cosponsors this week.

Report Section Medicaid And Chip Eligibility Enrollment And Cost Sharing Policies As Of January 2020 Findings From A 50 State Survey Introduction

To offset the increased spending, the proposal calls for approximately 0 billion in health care savings, with most coming from within the Medicare program. Under the President's plan, more beneficiaries would be subject to means testing and they would see higher premiums for Parts B and D. In addition, new beneficiaries would need to pay a copayment on home health care services, and they would also be faced with a surcharge on premiums for Medigap plans..If adopted, it would cut .9 trillion from the deficit over the next ten years by implementing a combination of tax increases and spending cuts, around 5 billion of which would come from the health sector. Several proposed changes to the Medicare program are included in the package, including one important measure that would allow the Secretary of the Department of Health and Human Services to negotiate prices for high-cost drugs on behalf of Medicare Part D beneficiaries. Doing so would save billions of dollars each year..Social Security's combined Old-Age and Survivors Insurance and Disability Insurance Trust Funds will be fully funded until 2035 one year later than was projected in last year's report. At that point, if nothing is done by Congress, Social Security would still have the funds to pay out 80 percent of scheduled benefits using tax revenues alone. The Trustees also estimated that Medicare's Hospital Insurance Trust Fund will be fully funded until 2026, at which point the program would still be able to pay out almost 90 percent of scheduled benefits using tax revenues. … Continued

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Running for election to Congress has become incredibly expensive and lawmakers spend a great deal of their time all year long raising money to pay for their campaigns..Women also tend to take their benefits sooner than men - before reaching the age for full un-reduced retirement benefits. When retiring before full retirement age, benefits are permanently reduced by up to 25% to 30%, depending on age..By Senator Elizabeth Warren … Continued

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