TSCL is meeting with new Members of Congress to get them up to speed on the Notch, how it impacts the adequacy your Social Security benefits, and the importance of Notch Reform. We encourage all of you to take time to write to your Members of Congress about how the Notch has affected your retirement income and urge them to co-sponsor Notch Reform legislation, the Notch Baby Act of 2011, and the Notch Fairness Act..Last week Politico.com reported that major legislation meant to lower prescription drug prices has run into unexpected trouble in the House of Representatives..The Social Security Trust Fund is the single biggest government account to which the U.S. Treasury owes money, with obligations currently totaling about .8 trillion dollars. From the mid 1980s until 2010, the Social Security Trust Funds received more revenues than required to pay benefits. Under current law, when surplus revenues are received, the Treasury issues special bonds or I.O.Us to the Trust Funds and excess revenues are used for other government spending. The government is required by law to pay interest on those I.O.U bonds..Providing relief for more than 11 million middle-class beneficiaries who pay income taxes on their Social Security benefits each year..pricey, especially since you may pay for it years before you use it. Some.Despite these obstacles, Subcommittee Members were relentless in their requests for CMS to reform the system. A frustrated Chairman Herger stated, "To date, CMS has offered little beyond excuses and questionable reports. If CMS does not responsibly act, then Congress will require them to." Trenkle closed the hearing with an agreement to provide the Subcommittee with an updated list of options and cost estimates by the beginning of next year. TSCL will continue to monitor any movement on this important issue..TSCL is concerned that an immigration amnesty would create new liabilities for Social Security, Medicare and Medicaid, that would be based on illegal work. Under current law, the Social Security benefits of immigrants who worked illegally, and who later gain work authorization, are calculated at least in part, on earnings from jobs worked under fraudulent numbers prior to gaining legal status..Action from Congress is needed to address Social Security's looming shortfall. Without it, the Social Security Trust Fund is estimated to run short by 203Should that occur, benefits would be reduced by about 22% to match the level of payroll taxes coming in..As we've previously reported, the Senate will return for votes starting on September 15 while the House won't be back to begin voting until September 20. Various Congressional committees are back at work this week, however.

Cost Of Voter Identification

Medicare - age adults 65 and up, and those who are residents of nursing homes are at especially high risk of complications and death from the COVID-19 coronavirus. About 90 percent of the participants of the new survey, which was conducted online during June and July, are Medicare beneficiaries. Survey response indicates support for strengthening program funding versus no change, or prioritizing healthcare delivery through private insurance plans over traditional Medicare. Only 23 percent of survey participants think that priority should be placed on private insurance plans in order to reduce reliance on federal spending and the need to raise taxes, and just 21 percent think the current level of spending is "about right because we could not have anticipated the scope of the coronavirus pandemic.".This year, for the first time since the early 80's, the Social Security Trust Fund that pays retirement and survivors benefits fell into deficit and is paying out more than it receives in payroll taxes and taxes on Social Security benefits. In years in which there was an excess of Social Security taxes, the federal government used the surplus revenues for other purposes and then credited the Trust Fund with special non-marketable government bonds representing IOUs. But with the recession and prolonged economic recovery, the taxes that fund Social Security plunged. At the same time, enrollment is soaring as seniors who have lost their jobs turn to Social Security early. When the Trust Funds don't receive enough tax revenues, then the government must find the cash to redeem the IOUs to pay benefits. The only options Congress has is unsustainable levels of borrowing, tax increases, or cutting benefits..The new regulation announced by CMS calls for a standard format when a health plan orders, authorizes, or initiates an electronic funds transfer with its financial institution. The new standard is expected to decrease many complexities and costs that riddle the current model. … Continued

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"Thanks to the Affordable Care Act, health care professionals will reportedly spend less time filling out paperwork and more time focusing on delivering the best care for patients," said Health and Human Services Secretary Kathleen Sebelius..As a result of the COLA projection, it is expected that Medicare's "hold harmless" policy will be applied to a majority of beneficiaries. Around 70 percent of Medicare's current enrollees will continue paying the 4.90 Part B premium in 2016 instead of the projected 9.30 monthly rate, which will be applied to new beneficiaries and some other groups..Essma Extra! … Continued

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