This week, the House Ways and Means Committee held a four-day markup to work on comprehensive tax reform legislation called the Tax Cuts and Jobs Act. The bill, which was released by Republican leaders in the House last Thursday, would consolidate the existing individual tax brackets from seven to four, double the standard deduction for taxpayers, permanently reduce the corporate tax rate, cap home mortgage interest deductions, and limit deductions for state and local taxes, among many other things..Applying the payroll tax to all wages over 0,000. Currently, payroll taxes are not paid on income over 8,500, which means millionaires and billionaires pay a much smaller tax rate than everyone else..President Trump was threatening to veto it because it directs the Defense Department to rename military posts and bases that are named for Civil War Confederate generals. Trump also demanded that a provision that would affect social media companies such as Facebook and Twitter be included in the bill..The Senior Citizens League is predicting another record-low Social Security cost-of-living adjustment in 2020 despite skyrocketing prescription drug prices and home heating costs. Will you cosponsor the Fair COLA for Seniors Act, which would make the COLA more adequate for Social Security beneficiaries?.Co-pays and coinsurance: This refers to the portion of the cost of services that you pay out-of-pocket. Co-pays are a fixed amount that you will pay for each service. For example, in a Medicare Advantage plan, you may be billed a co-pay of to see a primary care physician and to see a specialist. On the other hand, coinsurance is a variable amount. It is a percentage of the cost of the service. Theoretically if the total cost of the service is ,000 and you pay 20% coinsurance, your cost could be about 0. Under Medicare Advantage your health plan negotiates the cost of service, thus you would want to call your plan to get an idea what your total out-of-pocket costs would be, and whether your provider is a preferred provider. Under most Medigap policies, the Part B co-insurance cost is covered in large part, but there still could be some "excess charges" that you pay out of pocket..Sen. Bernie Sanders introduced S. 2023 on September 10, 201It has since been referred to the Committee on Finance..Keep working. - Unless you've got a well-padded bank account,.In the meantime, Senators have been advised they will be given 24 hours' notice to return to Washington if somehow agreement can be reached on a new economic relief bill. But any Senator has the power to block that from happening and it is estimated there are about 20 Republicans in the Senate who believe the federal government has done enough regarding the coronavirus..Would it Be Advantageous for Me to Take a Divorced Spouse Benefit?

Circling The Track

Screen your calls: Even if you have caller ID, experts suggest screening calls any way. More robo-callers are making their calls appear to be local by using phone numbers from your own local calling area. Unless you know the number of the caller is legit, don't pick up. Legitimate callers, such as your doctor's office calling to remind of an appointment, will leave a message. Tell your family and friends to leave a message and to keep talking at least long enough for you to get to the phone if your phone's speaker allows you to hear the caller's message..The disparity between growth in the COLA and Medigap premiums is likely to be worse in 2020. "Inflation is lower this year, and we are estimating that the COLA is likely to be around 1.7 percent," Johnson says. "Nevertheless, we anticipate that Medigap premiums will continue to grow several times faster for a number of reasons," Johnson adds..Lawmakers at this week's hearings on both sides of the aisle seemed committed to working together to stabilize the marketplace in the weeks ahead. In total, thirty-one Senators reached out to lawmakers on the HELP Committee to be included in the discussions, and the bipartisan group hopes to have a stabilization plan drafted by next week and signed into law by the end of September. For progress updates, follow TSCL on Facebook or Twitter. … Continued

Medicare Advantage In 2021 Enrollment Update And Key Trends

The Senior Citizens League is relieved that Members of Congress were able to avert the Fiscal Cliff and provide a "doc fix" without enacting harsh benefit cuts. However, topics like "chaining" the Social Security COLA and increasing means testing measures within Medicare will likely resurface next month, when Congress will be required to raise the debt ceiling address the spending cuts once again. In the meantime, TSCL will continue to inform Members of Congress about the consequences of cutting Social Security and Medicare benefits, and we will post updates here in the Legislative News section of our website..I realize that tonight when I go to watch TV, I'll be looking for the remote, but I won't remember that it's on the kitchen table, so I decide to put it back in the living room where it belongs, but first I'll water the flowers..The House of Representatives returned to work this week after the traditional August recess. The Senate, however, does not come back until next week. … Continued

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