This week, sixteen new cosponsors signed on to H.CON.RES. 72, which expresses the sense of Congress that Social Security and Medicare should be protected from benefit cuts by the Joint Select Committee on Deficit Reduction. This cosponsor surge brings the total up to 28..For more.H.R. 1553, Fair COLA for Seniors Act If adopted, H.R. 1553 would base annual Social Security cost-of-living adjustments on the Consumer Price Index for Elderly Consumers..Research conducted by Johnson for The Senior Citizens League has found that Social Security benefits have lost 34 percent of their buying power since 2000 because the index used to calculate the annual cost-of-living-adjustment increase doesn't adequately factor in the cost increases experienced by retirees. In 2000, for example, it cost 5 to fill up a 500-gallon home-heating oil tank. The average benefit amount in 2000 was 6, leaving older homeowners with 1 to put toward other household expenses. Today, it costs about ,640 to fill the same oil tank, but those who received benefits of 6 in 2000 only receive ,193.10 in 201"That leaves older consumers digging into savings or borrowing to make up the difference of 6.90," Johnson says. "The Social Security loss of buying power for 2018–2019 appears likely to continue to get worse.".I remain committed to determining the causes of rising drug prices and identifying potential solutions to reduce costs for American families. Everyone deserves access to health care that will improve their lives. Health care is a right, not a privilege, and I pledge to do all I can to protect this right..The far greater worry, however, is a sharp increase in almost every source of quality protein - including meat, poultry, and even canned tuna. "With many meat price increases in the double digits, we are highly concerned that older households may not be getting adequate supplies of protein in their diets," Johnson says. "This was a nationwide problem prior to the pandemic, and the problem has been exacerbated by shortages and disruptions during the pandemic," she points out..A new Medicare Advantage plan is available in my area and the premiums are extremely low. It would save me a lot of money this year, so I'm thinking about dropping my Medigap and Part D plan to enroll in the new Medicare Advantage Plan during the fall Open Enrollment period. Can you explain the pros and cons of doing this?.The Social Security trustees now anticipate that when the old age and survivor fund runs out of money in 2034, it will be able to pay only 76% of the retirement and survivor benefits otherwise due to recipients..Learn if there's an older, less expensive drug that you can try first. If you have a copy of your drug plan's formulary you may want to take that with you to the doctor's office to assist with checking an alternate medication, and what you will pay out-of-pocket..Surprise! Effort to End Surprise Billing Still Alive

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While appliances and used vehicles are generally only purchased occasionally, 2020 was not a good time to be shopping for a new washing machine or used car. Appliances increased by an astonishing 17.2 percent and used vehicles rose by 10.9 percent. Johnson points out that, this time a year ago, the price increases of used vehicle prices were negative, at minus 12 percent. However, manufacturers of appliances as well as new cars and trucks shut down production lines at the start of the pandemic. While plants have slowly re-opened, supply chain disruptions and social distancing requirements have slowed production recovery. That's led to long waiting lists for appliances, and the demand for used vehicles shot up..The Medicare Part B premium payment is automatically deducted from monthly Social Security benefits of most retired and disabled recipients. The hold-harmless provision is triggered when the dollar amount of a qualified individual's COLA is less than the dollar amount of the increase in their Medicare Part B premium. When this occurs, the individual's Medicare premium is adjusted in order to prevent a reduction in their net Social Security benefit from one year to the next..According to the findings of a new report released by The Senior Citizens League, Social Security benefits have lost 34 percent of their buying power over the past eighteen years due to growing costs and inadequate cost-of-living adjustments. For every 0 a retired household spent in 2000, the same household can only buy around worth of goods and services today. … Continued

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It required a mix of financial incentives, unprecedented world-wide need, and government prodding. But drug companies stepped up, and based on their performance in the stock market, they appear to be prospering. The federal government negotiated not only prices, but also it purchased hundreds of millions of doses of vaccines, made the vaccines available to the public at no charge, and has overseen the distribution of the vaccines to states. Those vaccines are saving lives, helping to get workers back on the job, and allowing those of us who are fully vaccinated to carefully start to resume pre-pandemic activities, such as visits with friends, family and grandchildren..Who will pay for President Trump's border wall with Mexico? It's looking increasingly unlikely that it will be Mexico, and that the money may instead come out of the Social Security benefits of older Americans. The President's very first budget for fiscal year 2018 contains a request to build a border wall with Mexico.."Auxiliary Beneficiaries Who Do Not Have Their Own Social Security Number," Social Security Administration Office of the Inspector General, September 2014, A-01-14-14036. … Continued

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