Then, in September, our entire country was appalled when a 32-year-old former hedge fund manager, Martin Shkreli, jacked up the price of Daraprim - a drug used to treat a life-threatening parasitic infection in people with suppressed immune systems like cancer patients and people with HIV/AIDS - from .50 per tablet to 0, overnight..Lawmakers on both sides of the aisle agreed at Wednesday's hearing that displaying the full Social Security number on Medicare cards puts seniors at risk for identity theft. However, the process of removing the numbers is costly and complex. Tony Trenkle, Director for the CMS Office of Information Services stated, "It's going to be a massive undertaking if we go down this road." He explained that the process would require a technology system update and massive education efforts for beneficiaries, providers, and business associates..The amount of money that the federal government owes to its creditors - including the Social Security and Medicare Trust Funds - is now estimated to be as big as the entire U.S. economy. Economists warn that the situation can't continue without causing more economic crisis..The study's findings illustrate the impact on the buying power of Social Security benefits when the economy goes from a period of extremely low inflation to more typical rates of inflation. The last time there was a loss this big was in 2011, another year similar to 2017, when there was no COLA, but inflation spiked. The following year, in 2012, Social Security benefits increased by 3.6%. And like 2012, a higher COLA is likely in 2018.."Like health care legislation to repeal and replace Obamacare, Social Security and Medicare reform proposals could become the center of a nasty political tug-of-war," Johnson says. TSCL works to protect retirement security and to promote better adequacy of both Social Security and Medicare benefits. To learn more, visit..A new study recently found that Social Security benefits have lost 34 percent of their purchasing power since 2000 due to rising costs and inadequate cost-of-living adjustments. Do you support the bipartisan CPI-E Act, which would make the COLA more fair and adequate?.TSCL believes a cap of ,000 to ,000 out-of-pocket, particularly for people who don't receive any "Extra Help" to cover drug costs and out-of-pocket spending, would provide much needed protection that would significantly reduce the current impoverishing level of mandated out-of-pocket spending..Increasing the payroll tax cap. Currently, the amount of earnings subject to payroll tax is 7,200, and the Social Security payroll tax is not applied to annual income over that amount. In a recent survey of TSCL's members, 73% said they would like to see the 6.2 percent payroll tax applied to all earnings in order to increase the solvency of the program..Note any other relevant information and then hang up.

Health Costs Perspective Americans Dont Feel The Slowdown In Health Costs

Such a minimum guarantee would go a long way to protect beneficiaries in years when there is no COLA. Had such a 3% minimum COLA guarantee been in effect since 2009, the average benefit of ,075 in 2009 would be 5 per month/ ,580 year higher today - about 18%. A minimum COLA would also eliminate the problem of benefits remaining flat for years, at a time during periods when Medicare Part B premiums increase more than the COLA raises benefits..We must provide the basic benefits that our seniors count on, regardless of the ups and downs of the economy. In addition to my legislative proposal, I co-sponsored Congressman Earl Pomeroy's Seniors Protection Act, which would have provided a 0 payment to help beneficiaries cover rising costs of Medicare, prescription drugs, and other necessaries. Unfortunately, despite the President already budgeting for it, the House of Representatives did not enact this one-time payment to seniors, veterans, and people with disabilities who receive Social Security to help them make ends meet during this tough time. This payment would have assisted those 54 million vulnerable individuals nationwide. However, this would have been just a short - term solution to the lack of COLA. I will continue to fight to make sure that Congress passes a long-term solution to the manner in which the COLA is calculated..The Community Living Assistance Services and Supports program is part of the healthcare overhaul law and would allow workers to pay into a fund that would provide a daily cash benefit for long-term care services. The program has been delayed since October after officials failed to meet the law's provisions of being voluntary, solvent, and self-sustaining for 75 years. … Continued

Prevent Manipedi Is It Time To Take A Breather

Experts estimate that fraud, waste, and abuse within Medicare cost more than billion each year. What efforts do you support to ramp up prevention?.Representative C.W. Bill Young.The part of Social Security that pays old age and survivor benefits is projected to become insolvent in just 14 years. The Social Security fund that pays disability benefits is projected to last longer until 206But that fund is much smaller and even if money were diverted from it to the old age fund, it would only last for an additional year. … Continued

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