Select a daily benefit amount. You can select an amount like.The "Notch" refers to a disparity in benefits that resulted when Congress changed the Social Security benefit formula in 197The changes affected seniors who became entitled to Social Security just two years later. The group born from 1917 through 1926 are known as "Notch Babies" because they receive lower Social Security benefits than other individuals with similar earnings histories..As was noted in last week's update, the AHCA would reform the current health system and negatively impact older Americans in several ways. It would restructure the Medicaid program, which funds nursing home care for many qualified Medicare beneficiaries. It would base premium subsidies on age instead of income, while allowing private health insurers to charge older Americans five times more than they charge younger folks for their coverage. And it would deplete Medicare's Hospital Insurance Trust Fund by eliminating two revenue sources that the ACA created, creating a funding crisis for the program..[1] Income of the Aged Chartbook, 2012, April 2014..I'm 60 and I buy my own health insurance. Would I qualify for the new Obamacare health insurance exchanges? How much would I pay? I paid 1 per month this year, but I have a ,000 deductible with a ,000 annual maximum to keep my premiums affordable. My husband is getting Medicare and we depend on his Social Security for most of our income..TSCL knows how crucial they are, and we pledge to keep fighting on your behalf. But your calls and emails to your Senators and Representatives on these issues that we write about are very important and can make a real difference..The Medicare Part A outlook has worsened due to both the financial impacts of COVID-19 and the high levels of people out of work. Nationwide business closures, layoffs and salary cuts, have significantly reduced the amount of revenues received by the Medicare HI trust fund over the past year, while payments to hospitals were increased 20% by emergency legislation for COVID-related care, and the elimination of cost sharing associated with COVID treatments..SSA Announces 2018 COLA.The OIG did not estimate the amount that the 11,179 collected in benefits in 2014, no doubt because privacy laws prevent the Social Security Administration from sharing that information. TSCL's Social Security policy analyst and Advisor editor Mary Johnson, however, estimates that this group of auxiliary beneficiaries may have received more than 5 million in benefits in 2014, based on current Social Security statistical data. TSCL agrees with the OIG, and believes that with Social Security in deficit, the Social Security Administration must do more to prevent improper payments.

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Most seniors are aware of the impact of the consumer price index on COLAs. But switching to the more slowly growing "chained" CPI, if applied government-wide, would be far more reaching than Social Security cuts alone. In every aspect where applied, seniors would receive less in benefits and pay more in higher taxes. The following chart illustrates:.The Social Security Trustees recently projected that the Disability Insurance Trust Fund will be fully depleted by 201If the next Congress takes no action to address the matter, payroll taxes will only be sufficient to cover about 80 percent of benefits after Trust Fund depletion. While Congress has never permitted a trust fund to run out before, time is short to make what's likely to be difficult long-term changes. "The longer lawmakers wait at this point, the greater the chances of a funding crisis and benefit cuts," Cates says..But so far Members of Congress haven't received a paycheck. Eric Pianin, a journalist who covers the federal budget for The Fiscal Times, perhaps expressed it best as a "brilliant budget tactic that backfired." The House last March passed a new budget along party lines that would achieve a surplus within ten years, mainly through deep spending cuts and reforms to Medicare, Medicaid and other entitlements. Earlier this spring the Senate took up the challenge and passed a .6 trillion budget that has greatly different priorities for spending and taxes than the budget passed by the House. But neither Senate nor House negotiators have met in conference where the two chambers would negotiate differences and produce a compromise budget agreement. … Continued

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TSCL is disappointed that Congress has not yet taken action to avert an irresponsible default on the federal debt, and we urge our members and supporters to contact your representatives in Congress to request a clean and immediate increase in the debt ceiling. For updates on the status of this important issue, visit TSCL's website at, or find us on Facebook and Twitter..There is a warm can of soda sitting on the window ledge..And remember, there is no plan anywhere on how to shore up Social Security, even if the Payroll tax deferment is not made permanent. … Continued

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