Trustees Release Annual Financial Reports.and would reduce the tax on Social Security benefits for older taxpayers with incomes below ,000, and 0,000..Bipartisan legislation before the House and Senate would repeal the Windfall Elimination Provision and the Government Pension Offset benefit reductions so that millions of retired teachers and police officers receive the Social Security benefits they have earned and deserve. Will you cosponsor the Social Security Fairness Act when you return to Washington?.This week, two congressional committees held hearings on issues affecting older Americans, and The Senior Citizens League saw support grow for four key bills in the House and Senate..An estimated 39 million Medicare beneficiaries spend up to 29 percent of their Social Security benefits on healthcare costs, according to a new survey by The Senior Citizens League. "That's a huge chunk of one's household budget, and chances are that many of those people are paying too much for premiums, deductibles, and out of pocket costs," says Mary Johnson a Medicare policy analyst for The Senior Citizens League. "One of the best financial moves that Medicare beneficiaries can make is to review health and drug plan coverage and compare options during Medicare's Fall Open Enrollment Period, which starts October 15 and runs through December 7, 2021," Johnson says. "For many people, it could potentially save hundreds of dollars, making the difference between having to split pills or going without, versus to covering all prescriptions and still winding up with a little cash left over," says Johnson, who helps her friends and family with the task..Other Medicare costs climbed as well, the Part B deductible, and out-of-pocket costs charged by doctors and for other services. Barbara's prescription drug plan bumped her medication to a higher formulary tier and her blood pressure medication that used to have zero copay now costs .00 per month. And after recent years of so much extreme weather, homeowner's insurance is now one of her fastest - growing costs..The high cost of health care is one of the biggest threats to Medicare and older Americans' health in general. I stand ready to take action on drug price negotiation and Medicare-X and to debate whatever ideas Democrats, Republicans, and independents have to bring down the cost of health care today and protect Medicare's viability for generations to come..Last year, more than one-fourth of participants in TSCL's Senior Survey reported that they had received a "surprise" medical bill in the past 12 months. While surprise medical bills can refer to any number of situations, including a sudden cost increase for prescriptions, recent legislation passed in December of 2020 addresses a certain type. Specifically, medical bills that a patient unexpectedly receives when treated by an out-of-network provider at an in-network facility..The Notch Fairness Act, H.R. 615, introduced by Representative Ralph Hall, would allow Notch Babies their choice of a higher monthly benefit or a lump-sum of ,000 payable in four annual installments. The legislation would allow eligible survivors of Notch Babies, persons who receive Social Security benefits based on the account of a Notch Baby, to receive up to 100% of the benefit payable to the deceased.

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To help protect the buying power of benefits, TSCL supports legislation that would base COLAs on the Consumer Price Index for the Elderly..By Representative John Garamendi.TSCL's Senior Survey also asks questions to learn how seniors think Congress should reduce the deficit. Should Congress focus on policies that create jobs, spending cuts, revenue increases, or a combination of approaches? Major reductions to Social Security benefits and proposals to make seniors pay a bigger share of their Medicare costs form the basis of the most widely - debated deficit reduction plans. "Experts in the know say it's not a matter of 'if' Medicare and Social Security will undergo major changes, but 'when'," Hyland notes. "But seniors' answers are important because older voters could decide the next election," Hyland says. TSCL will be sharing results of the 2012 Senior Survey in meetings with Members of Congress. … Continued

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This week, two new cosponsors Reps. David Cicilline and Steve Cohen signed on to the SAVE Benefits Act, which was recently introduced by Rep. Alan Grayson in the House. If signed into law, the bill would give Social Security beneficiaries a 3.9 percent COLA next year instead of the zero COLA they are expected to receive. It would cover the cost of the emergency COLA and extend the solvency of the Trust Funds by closing a loophole that allows corporations to deduct bonuses for CEOs from their taxes..About 44 percent of TSCL Senior Survey respondents last year said that their Social Security benefit was lower in 2011 after deduction for Medicare premium payments. Another TSCL survey found that 44 percent of respondents also said they spent at least 0 a month on Medicare premiums and other out-of-pocket costs in 201"With the average benefit at ,100, about 17 million seniors are spending one-third of their Social Security benefit on Medicare costs, " Hyland observes..I was diagnosed with metastatic breast cancer. My doctor first prescribed Femara. Within a few weeks, I knew I was not going to be able to continue with this medication because I was experiencing severe bone and joint pain. My doctor then chose Aromasin. This was obviously the drug for me. … Continued

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