SSA Announces Record-Low Social Security Increase.On Monday, a group of three Senators Amy Klobuchar, John McCain, and Chuck Grassley sent a letter to the White House urging the administration to utilize its executive power to reduce prescription drug costs..More than 5 million Social Security recipients with the lowest benefits are unlikely to see any net growth in their monthly checks after deduction of the Medicare Part B premium in 2019, according to a new analysis released by The Senior Citizens League. This will occur despite their receiving the highest cost-of-living adjustment in seven years. Those affected have a gross Social Security benefit of about 5 per month or less before deduction of the Part B premium. According to the analysis, the dollar amount of their Part B premium increase will be more than the dollar amount of their COLA. "This would make the fourth year in a row that this particular group has not seen a boost in their net Social Security benefits after the deduction for Medicare Part B premiums," says Mary Johnson, a Social Security and Medicare policy analyst for the League.\.Upon introducing the bill, Sen. Brown said, "For many Americans, Social Security benefits are the foundation of their retirement security. But many of our public sector workers like teachers and first-responders have seen their benefits reduced for years because of unfair laws that target them … These workers have taught our children and kept our communities safe. It's time they receive equal treatment under Social Security law.".We normally try to stay away from items that are covered in the news during the week. There would be no point in sending this out of all we did was repeat what you already know. But this time we have decided we need to talk, at least a little, about the subject that has captured the attention of the major and local news media, and the government this week..what you will pay for it - and do this every year. If the drug is expensive,.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..Good news is hard to come by these days. While a pandemic has hit our nation at least once before, none of us alive have ever experienced anything like this. In addition to the concern over catching the virus, the economy continues to take a huge hit, and no one knows how long this will last or how bad it's going to get..On Monday, the non-partisan Congressional Budget Office released its highly-anticipated report analyzing the AHCA legislation from Republican lawmakers that would replace the Affordable Care Act if signed into law.
