For the past 16 years, Johnson, has been helping friends and family members with the job of comparing health and drug plans. "It takes patience, but this is likely to be the best return on comparison shopping that you do all year," Johnson says. Here are some pointers:.High Costs for Prescription Drugs More than Just Prices.In the coming weeks, budget discussions will continue on Capitol Hill as committees in the House and Senate form proposals of their own. TSCL is hopeful that leaders in both chambers will consider measures that would improve the pharmaceutical industry and ensure access to more affordable prescription drugs for Part D enrollees. We will monitor the budget debate closely in the weeks ahead, and we will post updates here in the Legislative News section of our website..One way to strengthen Social Security is to do what's known as "scrapping the cap." Americans only contribute to Social Security on the first 7,200 in income earned every year. That makes no sense. Why should the very wealthiest get a tax break, when nurses, electricians, and grocery store clerks pay into the system on 100 percent of their earnings? Closing this loophole would extend the program for at least another generation..On Tuesday, just hours before a 21 percent pay cut for physicians was set to take effect, the Senate approved legislation to repeal and replace the SGR the flawed formula that determines reimbursement rates for doctors who treat Medicare patients. The bill, which was passed by the House two weeks ago, was adopted on Tuesday with a vote of 92-Shortly thereafter, President Obama released a statement saying that he "will be proud to sign it into law.".For information about town hall meetings near you during the summer congressional recess, call the local offices of your elected officials. For Congressional contact information, visit our website at..As I turn on the hose, I look over at my car and decide it needs washing.."At the same time Social Security payroll taxes have taken a huge hit due to tens of millions of people out of work, claims for Social Security will grow faster in 2020 than anticipated, as older adults lose their jobs," says Johnson. Before the start of the coronavirus recession, many older workers may have delayed claiming Social Security to allow their benefits to grow. "But those who lose their jobs may have to go ahead and claim Social Security benefits now because they can't afford to wait - especially if their retirement accounts have gone down significantly in value as well," Johnson says..A new bill was introduced in the Senate this week that would lower costs for Americans with diabetes and other chronic diseases who have high-deductible health plans. This legislation would not affect seniors who are covered by Medicare, but it could be very helpful for seniors who are under 65 and still working and who only have high-deductible health insurance. Authored by Sens. John Thune and Tom Carper, the bill, called the Chronic Disease Management Act, would lower health care costs by allowing high-deductible health plans to provide chronic disease prevention services - including insulin for diabetes - to plan enrollees before they reach their plan deductible.

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If adopted, it would provide beneficiaries with a 2 percent benefit boost, base cost-of-living adjustments on the more accurate Consumer Price Index for the Elderly, create a new minimum benefit set at 125 percent of the poverty line, and eliminate taxes on Social Security benefits for millions of seniors. It would also extend the solvency of the program through the year 2100 without cutting benefits for current or future retirees. TSCL was pleased to see support grow for H.R. 1902 this week, and we hope to see it signed into law before the end of this year..What do you feel are Medicare's major problem areas, and how do you feel they should be addressed?.President Trump has said that he wants to deliver on his promise to lower drug costs, but bipartisan legislation is required to cap costs and provide real cost savings for older Americans. If Congress fails to take action, older Americans will bear the increasing burden of higher drug spending through depleted savings, higher taxes, and a lower standard of living. … Continued

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All of this adds up to less money for retirement, and greater dependence on Social Security as insurance against retirement savings that are so closely tied to the value of equities and housing. "This situation was caused by COVID-19 and illustrates why Congress needs to strengthen Social Security and Medicare benefits," Johnson says. The Senior Citizens League supports legislation that would boost Social Security benefits for all retirees and supports legislation that would lower Medicare costs..The federal government will work with the private sector and Congress to implement the recommendations and develop a strategy to create a robust and resilient pharmaceutical and active pharmaceutical ingredient supply chain, including facilitating adoption of novel methods for commercial production of pharmaceuticals and biologics..When Congress enacted automatic Social Security COLAs in 1972, there was only one CPI and it measured the inflation experienced by urban wage earners and clerical workers. The 1972 amendments used this CPI as the basis for determining your COLA today. But today there are other, more appropriate indexes for calculating the COLA. In 1978 the Bureau of Labor Statistics expanded the CPI known as the CPI-U to cover all urban residents, including most retirees, and in 1983 the BLS launched an experimental index, the Consumer Price Index for the Elderly, which reflects the spending patterns of people age 62 and older. … Continued

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