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TSCL is pleased that after more than a decade, lawmakers have finally passed legislation to repeal and replace the SGR once and for all. The SGR has not worked as it was intended to since 2003, and seventeen times it has called for steep physician pay cuts, threatening access to quality medical care for seniors. We are hopeful that the new system will bring increased stability to the Medicare program..There's not much time to head off this situation. We can't let Congress think they can shrug and look the other way again this time. A 2.5% COLA is the amount that the Congressional Budget Office estimated beneficiaries would get in 2021, and those funds are already factored into the Social Security spending projections for 2021..Out-of-pocket costs for deductibles, co-pays and co-insurance..The Democratic Platform.The age at which individuals become eligible for full, un-reduced Social Security benefits is rising. Your full retirement age is based on the year when you were born and, for people born in 1960 and later, the full retirement age is 6The earliest age at which you can claim a retirement benefit is 6However, claiming benefits prior to your full retirement age comes with expensive trade-offs. It's unlikely to be your best choice if your aim is to maximize your retirement income over the long haul..How Can We Expand Social Security When The Program Is Running Out of Money?.In addition, prescription drug pricing is still on the priority list..Develop a second career or sideline income - Turn your passion.To locate your Area Agency on Aging visit the Eldercare Locator or call toll free.

Perspective Hotspot States See More Covid Cases In Nursing Homes

A new analysis from The Senior Citizens League of 12 frequently - prescribed drugs illustrates that Medicare recipients frequently overpay for their medications. "Because Medicare doesn't negotiate drug prices there are wild swings in prices between Part D drug plans," says Mary Johnson, The Senior Citizens League's Medicare and Social Security policy analyst. The difference in cost for the same drug between drug plans can be in the thousands of dollars for the most expensive drugs, and hundreds of dollars for more common prescriptions. Since the start of Medicare Part D in 2006, Johnson has volunteered to help friends and acquaintances shop for Part D plans..AHCA Advances Through House.Alexandria, VMore than 90 percent of older Americans are likely to be making a secret Christmas wish for the New Year, says The Senior Citizens League. "That's to make ends meet," says TSCL Chairman, Ed Cates. A national survey conducted by TSCL earlier this year found that 98 percent of Social Security recipients participating reported the annual cost-of-living adjustment had increased their Social Security benefits by less than a month in 2014, but 92 percent said their monthly expenses had increased by more than "That disparity between COLAs and rising costs is the 'Grinch that's stealing Christmas' for millions of older Americans this year," Cates says. … Continued

Policy Watch

Medicare Part B premiums jumped .10 per month in 2020 - one of the biggest increases in recent years. While the Social Security cost-of-living adjustment increased benefits by 1.6 percent in 2020, Medicare Part B premiums climbed 6.7 percent, more..The problem of how our government calculates price inflation affects more than just Social Security benefits. The consumer price index is also used to adjust many federal programs and other aspects of our laws such as the federal poverty limits and the federal tax code. By growing more slowly, fewer people qualify for safety net programs, or the federal tax code exemptions become less generous over time, and taxpayers pay more in taxes..The high dose vaccine contains four times the amount of antigen as a regular flu shot. It is associated with a stronger immune response following vaccination. Results from a clinical trial of more than 30,000 participants showed that adults 65 years and older who received the high dose vaccine had 24% fewer influenza illnesses as compared to those who received the standard dose flu vaccine. The high dose vaccine has been approved for use in the United States since 200Learn more about high dose flu vaccine here. … Continued