Health Reform Event Web Briefing What Should Consumers Know About Aca Open Enrollment In Florida And TexasFor updates on our progress, visit our home page. And be sure to cast your vote on November 8th for the candidates you trust the most to reform the program responsibly in the 115th Congress..The U.S. Treasury has borrowed .8 trillion from Social Security, but in recent years Congress has battled over the borrowing required to repay the Trust Fund. Some are calling instead for COLA and other "entitlement" cuts..If signed into law, the bill would take several steps to strengthen the Social Security program. It would make the cost-of-living adjustment more accurate by adopting an inflation index specifically for seniors, increase the minimum Social Security benefit to 125 percent of the poverty line, and enact an across-the-board benefit increase of approximately 2 percent, among other things. It would also responsibly strengthen the program's finances and ensure that the trust fund is fully solvent through the year 2100. … Continued
Health Reform State Indicator Marketplace Plan Selection By AgeThe study was supported by the National Institutes of Health..The survey found that a person having the national average Social Security benefit in 2000 - 6 per month - would have ,169.80 per month by 2016 due to COLA increases. However, because retiree costs are rising at a substantially faster pace than the COLA, that individual would require a Social Security benefit of ,517.80 per month in 2017 just to maintain his or her 2000 level of buying power..The Bipartisan Policy Center points out in a recent blog, that each of these sources of revenues is negatively impacted by high unemployment. When people are out of work, no payroll taxes are withheld from earnings. A portion of Social Security benefits is taxable when a Social Security recipient has an income higher than ,000 or ,000 for a couple filing jointly. But the coronavirus recession has impacted both earnings from jobs and the value of retirement accounts, so that fewer retirees will meet the income thresholds that make their benefits taxable this year. Finally, the Federal Reserve has responded to the recession by cutting interest rates, which means that the yields on the bonds held by the Social Security Trust Funds are smaller and will provide lower interest income. A recession also causes a higher number of new claims when older workers are forced to retire earlier than planned, raising costs in the short term. … Continued