The "Notch" refers to a disparity in benefits that resulted when Congress changed the Social Security benefit formula in 197The changes affected seniors who became entitled to Social Security just two years later. The group born from 1917 through 1926 are known as "Notch Babies" because they receive lower Social Security benefits than other individuals with similar earnings histories..Surprise! Effort to End Surprise Billing Still Alive.The system, however, isn't estimated to be able to pay scheduled benefits in full for that long. The Social Security Trustees estimate that the Trust Funds will become fully insolvent by the end of 203When Trustees use the term insolvent that means the point at which all the extra revenues that were borrowed, now totaling more than .6 trillion, have run out, and there are no more IOUs held by the Trust Fund. Some people believe that, when the Trust Funds are exhausted, Social Security will be completely unable to pay benefits. But that's not the case..Now, as we draw close to the end of the year, the window for Congress to take major action to lower prescription drug prices is beginning to close. Concern is growing that the prospects of a substantial drug price reduction bill may get lost in the politics surrounding the 2020 election. Legislation that would allow Medicare to negotiate the cost of prescription drugs is in the House, and a bipartisan bill that would cap out-of-pocket Part D costs at ,100 a year is stalled in the Senate. The whole effort is fiercely being fought by the pharmaceutical industry, and the outcome remains unclear..By Representative Elijah E. Cummings.TSCL's Board of Trustees on Capitol Hill.In late December of last year, the federal government reluctantly turned over to TSCL the first public copy of the controversial Totalization Agreement with Mexico after TSCL was forced to file two federal lawsuits under the Freedom of Information Act to gain access to the documents. The agreement has not yet been signed by the President or sent to Congress for final review..The Senior Citizens League understands that Social Security beneficiaries today cannot afford any cuts to their benefits. Since 2000 alone, their benefits have lost 23% of their purchasing power. Instead, to improve the financing of the Social Security trust fund, TSCL is urging lawmakers to strengthen the program responsibly without benefit cuts..The proposal is at odds with how older Americans think Congress should address Social Security revenues, according to TSCL's 2017 Senior Survey, which is conducted nationally through the mail and online. When asked about options to shore up Social Security financing, 58 percent of participants said they support proposals that would very gradually increase the payroll tax rate by 1 percent each for workers and employers. The largest percentage, 73 percent, support raising the amount of wages subject to Social Security, currently 7,200, to cover all wages.

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Lifting the maximum taxable wage cap so that wealthy individuals pay Social Security taxes on more of their income. Currently, annual income over 8,500 is not subject to the payroll tax..Higher out-of-pocket costs: The drawback to MA plans is higher out-of-pocket costs. Where Medigap supplements pay most or almost all of your covered out-of-pocket costs, there are co-pays and deductibles for most services received through MA plans. Depending on the type of MA plan you are considering you may be required to use a narrower network of healthcare providers in order to get the lowest costs. If you are considering an HMO you will be required to use only the doctors, hospitals and providers in the HMO network, or neither the MA plan nor Medicare will reimburse your bills..Lowering drug prices is a singular area where bipartisan legislation could make it into law this year. On Monday, Senator Jeanne Shaheen in introduced legislation that would cut the cost of insulin by 75% compared with the level expected in 2020. The proposal would create a new pricing model that limits the use of rebates for Medicare Part D and the private insurance market, Sens. Tom Carper, Susan Collins and Kevin Cramer have already signed on as co-sponsors to the legislation. … Continued

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"Social Security: What The Latino Community Should Know," National Council of La Raza, 2014..TSCL recently delivered letters to every Member of Congress calling on them to support legislation that would provide a more fair and adequate COLA. "Congress created the automatic COLA in 1972 to help benefits keep up with inflation. But according to our research, COLAs are failing to keep up with the rising costs seniors are facing. Since 2000 Social Security benefits have lost 30 percent of their buying power, and in the last year alone they have lost 7 percent."."We are mobilizing our grassroots efforts to fight COLA cuts and contact Members of Congress," Hyland says. To learn more, or to take a poll, visit. For more ideas about saving on Medicare costs and stretching retirement income, request a free issue of TSCL's "The Best Ways To Save" newsletter. Send for postage and handling to: The Senior Citizens League, ATTN: BWTS, 1001 N. Fairfax St., #101, Alexandria, VA 22314. … Continued

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