Like the enormous sword of Greek legend hanging by a single hair above the head of Damocles, the U.S. Totalization agreement with Mexico continues to remain hanging over our nation's Social Security program. The agreement has not yet undergone final approval, but its fate has far-reaching implications for the benefits of 53 million U.S. Social Security beneficiaries..At 2.8%, the annual cost-of-living adjustment that Social Security beneficiaries received in 2019 was the highest in seven years. The average monthly retiree benefit of ,425 increased by almost , but since October of last year, consumer price index data indicate that growth in inflation has stalled. In fact, if the current trend continues, it suggests the COLA payable in 2020 could be zero, according to projections by Advisor editor, and COLA researcher, Mary Johnson..The first day of each month - when big payments go out for Medicare reimbursements, military salaries, veterans' benefits, pensions for military and civilian federal employees and more - is particularly bad. The third day of each month and Wednesdays, when Social Security benefits go out, aren't great either. Interest payments to Treasury's creditors go out on the 15th and at the end of each month of beginning of the next..I'm new to Medicare and recently had surgery. I've received several unexpected bills, including one for ,100 from the anesthesiologist. I thought these costs would be covered. What can I do?.June 2007.Senate Returns to Washington.The Committee has held two additional hearings on prescription drug prices. In July, the Committee heard directly from patients who are unable to afford their prescription drugs. Two of the witnesses at that hearing were Medicare beneficiaries who were prescribed a cancer drug priced at more than ,000 per month..No. Citizenship is not a requirement to become eligible for either Social Security or Medicare. All that's required is legal work authorization, and a valid Social Security number, which undocumented immigrants would receive under the new executive action. After working for a long enough period, usually about ten years, individuals become eligible for Social Security retirement benefits when they meet age requirements. If they are eligible for Social Security, individuals automatically become eligible for Medicare at age 65, or after a two-year wait if disabled..Research conducted by Johnson for The Senior Citizens League has found that Social Security benefits have lost 34 percent of their buying power since 2000 because the index used to calculate the annual cost-of-living-adjustment increase doesn't adequately factor in the cost increases experienced by retirees. In 2000, for example, it cost 5 to fill up a 500-gallon home-heating oil tank. The average benefit amount in 2000 was 6, leaving older homeowners with 1 to put toward other household expenses. Today, it costs about ,640 to fill the same oil tank, but those who received benefits of 6 in 2000 only receive ,193.10 in 201"That leaves older consumers digging into savings or borrowing to make up the difference of 6.90," Johnson says. "The Social Security loss of buying power for 2018–2019 appears likely to continue to get worse."

Blog Redistricting C37 4

Totalization with Mexico is highly controversial because of the millions of Mexicans who have illegally worked in the United States without authorization. The agreement raises concerns that millions of such workers and their dependents would become newly eligible for Social Security benefits worsening the long-term solvency of the program. In addition, substantial new costs could trigger benefit cuts and higher taxes for both retirees and workers..Can You Still Fund A Retirement Account Once You Retire?.In short, since 2015 Congress apparently forgot about the deficit and went on a spending spree. But suddenly, it has become a crisis again. Or has it become a convenient excuse for doing what a lot of them have wanted to do for a long time: cut Medicare and Social Security benefits? … Continued

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If Congress does nothing and the Social Security disability trust fund is allowed to become fully exhausted, there will still be payroll taxes coming into the program, but 11 million disability beneficiaries would see their benefits automatically cut by about 20%, according to the Congressional Research Service.[2] The reallocation of payroll taxes from the retirement trust fund is likely to gain increasing attention from Congress in coming months, although it's unclear when or if Congress will act..This question is signficant in light of proposals.Notch Bulletin: Does Your Representative Support Notch Reform? Help Us Build Key Support Now.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. … Continued

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