By Jessie Gibbons, Legislative Director.While the legislation made some changes to Social Security and did not cut benefits of any current retirees, it did end a complicated benefit claiming strategy known as "file and suspend" for people very close to retirement. Although the legislation closes an unintended "loophole," the strategy was one of the few means married couples had to maximize their payouts. A similar provision was contained in Obama's 2015 fiscal year budget and was estimated to cut Social Security costs by as much as .5 billion annually..Under the proposal by Congressman Paul Ryan, now Chairman of the House Budget Committee, and Alice Rivlin, a monetary and fiscal policy expert, Medicare would be changed from a system that pays per procedure, to one that would provide a fixed amount of money or voucher, to private health plans to provide coverage..IPAB Repeal Bill Approved by House.Since the WEP and GPO were created decades ago, lawmakers have been working on better alternatives. At Tuesday's hearing, those on the subcommittee discussed a bill the Equal Treatment of Public Servants Act that could be a promising solution. If signed into law, it would provide immediate relief to current retirees affected by adjusting their Social Security benefits. According to Stephen Goss the Social Security Administration's Chief Actuary around 80 percent would see benefit increases of approximately 20 percent..Under the 'Ryan Budget,' Medicare would be turned into a private voucher program. But these vouchers are unlikely to keep up with healthcare costs, and could require seniors to pay more out-of-pocket for their healthcare. In fact, the non-partisan Congressional Budget Office estimates that by 2030, seniors would be paying nearly 70% of their health care costs out-of-pocket, with the vouchers picking up only 30% of the bill. It has also been estimated that seniors would end up paying up to ,400 extra for healthcare each year under the Ryan Budget..TSCL will continue to monitor the state of the trust funds especially for the DI program and our legislative team will advocate tirelessly for fair and responsible policy solutions in the months ahead. For updates, visit our new page on Facebook..If adopted, H.R. 448 would provide for the negotiation of lower covered Part D drug prices on behalf of Medicare beneficiaries and the establishment of a formulary by the Secretary of Health and Human Services under Medicare Part D..House Budget Committee Approves Fiscal 2019 Blueprint

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Your thoughts on this matter can sway votes in Congress. Contact your Members of Congress. Letting each of them know what you think about debt limit deals that would cut "entitlements" like the Social Security cost-of-living adjustment, or trim benefits in other ways..This week, lawmakers in the House passed legislation that would fund the Department of Homeland Security through September and address President Obama's recent immigration orders. In addition, The Senior Citizens League announced its support for two new pieces of legislation.."Notch Babies are now at the age where they are more likely to have chronic health problems and require multiple prescriptions," says TSCL Chairman Larry Hyland. "They are finding it difficult to make their lower benefits cover rising Medicare premiums and out-of-pocket costs, let alone all their other rising costs. The time has come to settle this," Hyland says. … Continued

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According to the CBO report, the fiscal shortfall is largely due to the growth of Social Security, Medicare, Medicaid and interest payments as a share of the country's gross domestic product, while tax revenue stays relatively steady and spending for other programs drops..The report stated that the four changes together would eliminate 113% of Social Security's projected long-term financing gap. The majority of participants, who included all income levels, and political party affiliations, preferred the package of changes. "This survey reflects similar findings to surveys conducted by TSCL," says TSCL's Executive Director Shannon Benton. We hope that this survey can serve as an outline for a plan to strengthen Social Security without having to rely on benefit cuts," she states. "We encourage our readers to share the findings of this study with your Members of Congress," Benton adds..Compounding the problem, it's also common for people close to retirement to underestimate medical expenses. Four-out-of-ten participants in the Nationwide survey did not expect to spend any of their Social Security income on healthcare. The Social Security Administration, however, automatically deducts the Medicare Part B premium, which is 4.00 per month in 2018, from Social Security benefits. Medicare Part B premiums have been the fastest rising retiree cost over the past 18 years. … Continued

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