Nearly 1.5 million public servants are currently affected by the WEP because they have earned pensions from their state or local government, but have also paid into Social Security through previous or secondary employment. Their earned Social Security benefits are often reduced by as much as 40 percent. In addition, the GPO affects public servants who are entitled to Social Security spousal or survivors benefits based on the work history of a husband or wife. Nine out of ten times, the benefits to which they are entitled are eliminated altogether..Forty-one million Americans participate in Part D. Medicare should be able to negotiate drug prices on their behalf just as the VA and private insurers do. Doing so would have the potential to lower drug costs for Part D participants and save Medicare money. For these reasons, I've introduced multiple bills to end Medicare's ban on price negotiation, and have urged President Trump not to renege on his campaign pledges supporting this..Before we get into the rules for your wife, let's double-check your situation. If your wife recently stopped working, you should check your enrollment in Medicare Part B right away in order to avoid a Part B late enrollment penalty..Seniors have lost more than 20% of their purchasing power since 2000. What is your position on the adoption of the "chained" CPI for the calculation of COLAs, which studies show would put the purchasing power of Social Security benefits even further behind?.For each of the reasons above, TSCL sincerely hopes that Congress will allow the Social Security payroll tax cut to expire at the end of this year. Extending it for a third time would be irresponsible, and we fear that it could jeopardize the program's ability to fully pay Social Security benefits in the future. To learn more about the tax cut and other issues affecting Social Security, visit our website..According to a news report we've seen, groups that support President Trump are urging him to take a "hard look at mandatory spending, the root cause of the United States' fiscal woes." And when they say "mandatory spending" they are talking about Social Security and Medicare..Rep. Allyson Schwartz introduced H.R. 574 on February 6, 201It has since been referred to the Committee on Energy and Commerce and to the Committee on Ways and Means where it awaits further action..I started Social Security benefits in 2007 at age 62, but my retirement accounts have lost so much of their value that I'm going back to work. Will my benefits be reduced?.The first change affects those who hit the Medicare Part D donut hole, or the gap in coverage that occurs after a beneficiary's total drug costs reach ,970 and before they total ,750. According to the Department of Health and Human Services, last year 2.8 million seniors who hit the donut hole saved an average of 7 on prescription drugs due to the Affordable Care Act. This year, Medicare will provide an additional subsidy to those who hit the coverage gap, resulting in an additional in savings for the average beneficiary.
