News summary u s set to approve 2nd covid 19 vaccine as fda considers moderna candidate questions remain over production meeting demand data image png base64 iVBORw0KGgoAAAANSUhEUgAAAHsAAAAVCAYAAABmOZFVAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAJcEhZcwAAEnQAABJ0Ad5mH3gAAABPSURBVGhD7dExAcAwDMCwdPxZBVj7jIWsxwB8dvdOCN fAJoNaTak2ZBmQ5oNaTak2ZBmQ5oNaTak2ZBmQ5oNaTak2ZBmQ5oNaTak2YyZByvoA3Lay1 oAAAAAElFTkSuQmCC

The fact that there are actually two Social Security trust funds is important when you break down the numbers behind the trust funds' cash deficits. According to the Social Security Trustees' "intermediate" projections, the OASI trust fund would run a cash deficit of billion in 2010, and the DI trust fund a billion cash deficit..TSCL has been fighting to stop a payroll tax cut for months because of the damage it would do to the Social Security and Medicare trust funds. Last week we contacted both Senate and House leadership in both parties to reinforce our opposition..A major move is underway to reduce government spending on Social Security by cutting the growth rate in annual cost-of-living adjustments. What would it cost you? Here are answers to some of your most frequently asked questions:.In 2017, you are allowed to earn ,880 or in the months prior to full retirement age without any reduction to your benefits. If you earn more than that, Social Security will withhold in benefits for every over that amount..Does TSCL.Notch Bulletin: How Much Less Do Notch Babies Receive? Recently one of our readers asked “Is there a percentage as to how much less NOTCH BABIES receive monthly?” Although not many studies exist, according to one study of average earners born from 1917 through 1926, the disparity in benefits with other retirees seems to average about 26%..Now Medicare Part A is projected to again become insolvent, perhaps by 202Policy experts are proposing that the revenues raised by the 3.8% net investment income tax should be "re-directed" to the Part A Trust fund rather than the federal government general revenue..Representative C.W. Bill Young.Later in the week, the President doubled down on his promise to try and cut prices on branded prescription drugs. Word is out that the President is considering an executive order to combat the problems of high cost drugs sold to Medicare and other government programs.."Splitting pills, taking prescriptions every other day, or simply not refilling prescriptions is hazardous to health, especially when the drug is an essential one for conditions such as diabetes," says Johnson, whose mother was a diabetic. "The process of comparing plans can be a chore and confusing. But there are Medicare counselors in every state who are available to help beneficiaries compare and select the best choice of coverage, with free one - on - one counseling," Johnson explains.

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If she delays until age 70, she'll receive ,226 more because of the Social Security delayed retirement credit. Her starting benefit will be ,980, she will receive 0,891 over her retirement, and her final monthly benefit would be ,417..The Senior Citizens League is pleased that Congress has successfully negotiated a repeal of the SGR, since the flawed formula has not worked as intended for twelve years. It has called for physician pay cuts some as steep as 30 percent more than seventeen times, threatening access to quality medical care for beneficiaries. We are hopeful that the new payment system will bring increased stability to the Medicare program..House Adjourns for Recess … Continued

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TSCL recently released an analysis of the proposal that estimates the chained CPI would cut the growth in average benefits of ,100 today by about ,634 over the course of a 25-year retirement, and that assumes that the economy becomes more stable soon. Nevertheless, the reductions in COLA growth compound over time, and are deepest when seniors are the oldest and sickest. By the time seniors are in their late 80s or 90s, when they are most likely to have chronic health problems, monthly benefits would be about 5 lower using the chained CPI..That estimate appears to be one prepared by the Social Security's Chief Actuary who projected in 2003 that a totalization agreement with Mexico would have a negligible long-range cost to Social Security. The Social Security Administration estimated that costs to the U.S. Social Security system would average about 0 million per year over the first five years. In 2003 the Government Accountability Office evaluated that cost estimate and sharply criticized it, saying that "the cost of such an agreement is highly uncertain." The GAO reported that SSA's estimate failed to account for the large number of Mexicans who are or have worked in this country without legal authorization..Alzheimer's Drug Could Increase Part B Premiums for Everyone A newly approved drug to slow the progression of Alzheimer's disease is drawing criticism for it's ,000 price tag, especially given its lack of proven effectiveness. Aduhelm stirred controversy when the Food and Drug Administration's own expert advisory panel was nearly unanimous in opposing the drug's approval due to mixed results in studies of effectiveness. … Continued