Price gouging. The companies engaged in price gouging to maximize profits of drugs that had been off patent for decades. None of the companies investigated had invested in the research or development to create or improve the drug..Therefore, they are considering using the "reconciliation" process because they would only need 51 votes. But if they do that, legislation passed over ten years ago dictates that they must either raise taxes or cut spending on current programs to pay for the new spending in the President's bill..The COLA is intended to protect the purchasing power of the benefits received by older and disabled Americans. A 30 percent loss in buying power over a 20 - year retirement period indicates the COLA is failing to provide that protection. The Social Security COLA, as currently calculated, is a poor match to the price changes actually experienced by the people it is intended to protect..Then, in our Oct. 3 Update we reported that the chairmen of the House Ways and Means Oversight and Health subcommittees had sent a letter to Health and Human Services Secretary Alex Azar requesting more information about the discount card. Among the questions they were asking was what legal authority is being used to justify the program and how it will be paid for..If Social Security benefits don't increase, while senior costs continue to climb, that would take a big chunk out of the spending power of retirees' Social Security benefits. The majority of Medicare beneficiaries have their Part B premiums automatically deducted from their Social Security benefits, and nearly 7 million have Part D and Part C Medicare Advantage premiums automatically deducted as well. Seniors would end up with considerably less Social Security to live on in 2010 after paying the rising out-of-pocket Medicare costs, leaving less to cover other rising costs..How Would My Son's Caregiver Be Affected By Medicaid Cuts?.Years ago, drug legislation was passed that made importation of FDA approved drugs from Canada legal, but the Department of Health and Human Services secretary was required to certify the safety of the drugs. So far, no HHS secretary has been willing to do so, despite regular efforts to get importation going..If you do return to work, it is possible that your earnings could subject a portion of your Social Security benefits to taxation. If this happens, you could wind up with only a small gain, or even lose money after paying the increased tax on earnings and Social Security benefits. Before taking on work to earn extra income, calculate the tax cost. A good tax guide like J.K. Lasser's Your Income Tax contains worksheets to help you do this. Tax guides can often be found in many public libraries, or visit for more information..Call Congress

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They are willing to pay more for Social Security, if necessary, to keep the program strong..Roughly half of all older taxpaying households paid income taxes on a portion of their Social Security benefits this year, even though many of them had incomes as low as ,000 or ,000 for married couples filing jointly. Those modest incomes are just two times higher than the federal poverty level. Do you believe this tax on Social Security benefits is fair and, if not, what are you doing to fix it?.Doesn't Social Security pay money to many people who are not really paying into it? - L.V. … Continued

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New Congress Convenes.Finally, even though the full retirement age is rising, the eligibility age for Medicare is still 6It's important to apply for Medicare three months prior to turning age 6Failure to enroll in Medicare at age 65 might result in costly premium penalties..If you're like most Medicare beneficiaries, you rarely make changes to your health or drug plans, but this is one of the biggest financial mistakes you can make in retirement. Insurers make numerous changes to drug and health plans that increase your out–of–pocket costs every year. Your health changes, and the plans that once were your best deal, may be full of high cost surprises now. Every year new plans, even new plans offered by your current insurer, compete for your business by offering similar or better coverage, for lower costs. Comparing your Medicare plan coverage every year and making changes when it's in your best interest, is one of the most important financial habits to get into. … Continued

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