There were certain federal health programs set to expire at the end of May, but the expiration date was extended to Nov. 30 in one of the recently passed bills to deal with the coronavirus situation..There's not much time to head off this situation. We can't let Congress think they can shrug and look the other way again this time. A 2.5% COLA is the amount that the Congressional Budget Office estimated beneficiaries would get in 2021, and those funds are already factored into the Social Security spending projections for 2021..Two Social Security Reforms That Seniors Strongly Support.The task for the Administration is to figure out how to ensure patients don't unknowingly sign away their new protections, monitor and punish providers who violate the ban, and establish a process for settling disputes, among other complicated considerations. The ban is due to take effect in January..everything just crashes. By the time we turn 65 and eligible for Medicare,.Obviously, action on those legislative matters are of great concern to TSCL and to seniors in general..What other ways would I be affected by this Chained COLA?.The first day of each month - when big payments go out for Medicare reimbursements, military salaries, veterans' benefits, pensions for military and civilian federal employees and more - is particularly bad. The third day of each month and Wednesdays, when Social Security benefits go out, aren't great either. Interest payments to Treasury's creditors go out on the 15th and at the end of each month of beginning of the next..This is a problem that affects retirees enrolled in Medicare Advantage plans much more so than those who have Medigap supplemental coverage which allows enrollees to see any provider that accepts Medicare. To reduce the costs of care, and to keep premiums low for consumers, Medicare Advantage plans contract with doctors and hospitals to create networks. Cost is a predominant concern and, in the process, plans create networks that exclude higher cost providers.
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News on the Coronavirus Vaccine Front.The past two years without a cost-of-living adjustment felt like the government clamped a lid on benefits. Now a Congressional debt reduction committee is working on a plan that's likely to keep your COLA "chained" down in the future by switching to a more slowly-growing "chained" consumer price index..However, as you may already suspect, that's not necessarily the way our government calculates the change in price. The federal government doesn't simply calculate the difference in cost of navel oranges from one period to another. If another type of orange, such as Valencia is priced lower, at .39 per pound in June when navel oranges are .49, then our government assumes you buy the lower-cost orange, whether or not you actually do so. The price change from .39 in December of 2018 for the navel oranges to .39 in June of 2019 for the Valencias would show no price increase at all for oranges. It would show prices are flat, and that would be reflected then in the overall CPI. One obvious problem is the fact that consumers can't always readily substitute lower-costing items in certain expenditure categories, especially for things like medical services and prescription drugs. … Continued
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Thank you for signing a petition organized by The Senior Citizens League on various issues dealing with Social Security that are important to our nation's elderly. As a Representative of one of the largest number of Social Security recipients in the Congress, please know that I will always work to ensure that those who rely on this program have access to the benefits they have been promised. Making certain that this safety net for our seniors remains fiscally secure in the future is a very serious matter that needs to be lifted above any partisan fray and dealt with in a responsible bipartisan manner that benefits young and old Americans alike..There were certain federal health programs set to expire at the end of May, but the expiration date was extended to Nov. 30 in one of the recently passed bills to deal with the coronavirus situation..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. … Continued