So, which one should you take?.Indeed, the Social Security Administration does not "promise" a specific amount of benefits, but they do not promise to replace a specific percentage of pre-retirement earnings either. Both benefit amounts and "replacement rates" can change at any time if Congress and the Social Security Administration deem it necessary. Prior to the 1977 changes, the replacement rate was not a stable percentage. For people who retired under the 1972-73 flawed formula, replacement rates grew from 39% to a high of 54%. The new benefit formula led to a lower, more stable replacement rate of about 43%, as well as lower benefits..Tuesday Senators Grassley and Wyden announced legislation, The Prescription Drug Pricing and Reduction Act of 201The bill if adopted would save taxpayers more than 0 Billion, lower Medicare Beneficiaries out-of-pocket costs by Billion and premiums by Billion, according to the Congressional Budget Office. A hearing on Thursday of a key panel of legislators advanced the legislation out of the Senate Finance Committee despite close-call votes on controversial provisions, priming the legislation to be considered by the full Senate in the fall..Lawmakers Advance Temporary Funding Bill.Opportunity to utilize new technologies such as telemedicine that bring health care to those in rural communities..New Co-Sponsor for Key Bill.Health insurers are pushing back, and are warning that the cost of new coverage could limit other benefits they offer in private Medicare Advantage plans - such as free transportation to medical appointments or free over-the-counter drugs..When You Can't Afford Your Prescription Drugs, Apply For "Extra Help".Following the Senate HELP Committee hearing, the House Energy and Commerce Subcommittee on Health met on February 28th to discuss how law enforcement and opioid addiction specialists can help combat the epidemic in their communities. Chairman Michael Burgess highlighted several promising bills that could help put a stop to the epidemic. Once such example is H.R. 5041, the Safe Disposal of Unused Medication Act, which would allow hospice workers to dispose of extra opioid medication an action they are currently prohibited from doing.

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Currently, COLAs don't keep up with typical retiree costs. Consequently, Social Security benefits have lost 22% of their buying power since 2000..In her new role as CMS administrator, Verma will report to Health and Human Services Secretary Tom Price, who has authored several Medicare reform plans in recent years. His proposals would increase the Medicare eligibility age from 65 to 67 while adopting a "premium support" model, where beneficiaries would be given vouchers from the federal government to purchase private health insurance..Social Security's finances depend largely on payroll taxes, tying the strength of Social Security to the strength of the U.S. economy. The U.S. unemployment rate was more than 13.3% through May. That was worse than the 2009 Great Recession, when the unemployment rate reached a peak of 10.6% in January 20With 20.5 million people out of work, combined with a higher number of new claims for benefits as older unemployed workers turn to Social Security, there will be a significant impact on the finances of the Social Security Trust Funds. The degree of the impact depends on how long it takes to get our economy safely up and running again. … Continued

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Since 1893, the Senate has observed Washington's birthday by selecting one of its members to read Washington's Farewell Address. The assignment alternates between members of each political party. At the conclusion of each reading, the appointed senator inscribes his or her name and brief remarks in a black, leather-bound book maintained by the secretary of the Senate..If she delays until age 70, she'll receive ,226 more because of the Social Security delayed retirement credit. Her starting benefit will be ,980, she will receive 0,891 over her retirement, and her final monthly benefit would be ,417..Thus, we are watching to see how this Administration would do things differently this time. In addition, there are concerns on the Canadian side about the timing. Canada is concerned this could cause drug shortages, particularly for drugs used to treat COVID-19 further exacerbating tensions with one of our nation's closest allies and trading partner. … Continued

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