Inflation data through April suggests that the annual cost-of-living adjustment for 2020 could be very low, perhaps 1.2%. Even though Social Security recipients received the highest COLA since 2012 this year - 2.8% - COLAs have averaged a meager 1.4% over the past decade. That's an unprecedented low rate of growth in Social Security benefits for an unprecedented period of time. From 1999 to 2009, COLAs averaged more than twice that rate of increase, at 3% per year..Find resources in your community using the Eldercare Locator..Unless there is a breakthrough regarding a new coronavirus bill, the House is scheduled to return to business on Sept. 1That will leave 2 ½ weeks in September for it to pass the two remaining funding bills but that will probably depend on how negotiations for a new coronavirus bill as well as a CR go once they return..Increasing the payroll tax cap. Currently, the amount of earnings subject to payroll tax is 7,200, and the Social Security payroll tax is not applied to annual income over that amount. In a recent survey of TSCL's members, 73% said they would like to see the 6.2 percent payroll tax applied to all earnings in order to increase the solvency of the program..If passed, the CPI-E Act would base Social Security cost of living adjustments on a consumer price index determined by the spending habits of elderly workers instead of the current formula geared toward younger members of the workforce..As with Social Security and Medicare long-term viability, reducing the high costs of drugs is also at the top on TSCL's agenda this year. These are complicated problems but Congress must find a way to deal with them and TSCL will be fighting for you as these debates continue..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%..Pharmaceutical manufacturers hiked the list price of a record 832 drugs last month - nearly 200 more than January 2020 and the highest since at least 201All but 10 were branded drugs and 175 of those were specialty drugs, according to the report..I get my Medicare health plan under my wife's company insurance. My wife is not on Medicare yet, she also gets her health insurance through her former employer. We are both retired and live on a fixed income. When does she need to enroll in Medicare?

Report Section Individual Insurance Market Performance In 2018 Issue Brief

TSCL Endorses Lock-Box Bill.The fate of President Obama's controversial executive action on immigration remains tied up in court. Texas and 25 other states, supported by TSCL, 12 other groups, and 113 Members of Congress are challenging the legality of Obama's actions. TSCL and the others argue in an amicus curiae brief, that "the President acted contrary to both the express and implied will of Congress."."This survey illustrates why budget proposals that would cut the growth of COLAs would put millions of older and disabled Americans at risk of insufficient income to cover more growing expenses," says Larry Hyland, TSCL chairman. "To put it in perspective, for every 0 worth of expenses seniors could afford in 2000, they can afford just today." Hyland adds. … Continued

Medicaid Issue Brief Medicaids Role For Medicare Beneficiaries

Since 2000, Social Security benefits have lost 23 percent of their purchasing power due to inaccurate inflation adjustments based on the CPI-W. This year, for instance, seniors would be receiving a 2.1 percent Social Security benefit increase if the COLA were based on the CPI-E. Instead, they are receiving a 0.3 percent COLA that is offset completely by increased Medicare Part B premiums..Early in the summer, I spent an afternoon at one of two critical access hospitals in my district in Southeastern Ohio. It's a hospital with just 25 beds and an Emergency Department no larger than many families' kitchens. Still, every year the doctors and nurses there care for more than 2,000 inpatients and treat an astonishing 50,000 outpatients..However, a rift has developed among Democrats in the House of Representatives. Those who want to empower the government to demand lower prices from drug makers are concerned that moderates in their party are now emboldened to blunt their ambitious drug-pricing agenda. … Continued

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