"New Generic Drugs Can Save You Money," Consumer Reports magazine, May 2012..The rise of prescription drug prices is a serious concern that warrants immediate attention. Drug companies have long charged record prices that deny millions of Americans affordable access to lifesaving medications. Individuals across Maryland - and the country - have shared their stories with me regarding the high cost of drugs for themselves or their family, and the strain it places on their finances and health. Within Medicare, so many of our seniors are facing rising costs and tough choices..The Senior Citizens League is opposed to the payroll tax cuts. To learn more visit..For more.H.R. 1553, Fair COLA for Seniors Act If adopted, H.R. 1553 would base annual Social Security cost-of-living adjustments on the Consumer Price Index for Elderly Consumers..New Legislation Aimed At Fixing Social Security and Medicare.If you own stocks in a retirement account, make sure the company holding your.If signed into law, the Improving Care for Vulnerable Older Citizens through Workforce Advancement Act would create six different demonstration projects that focus on the coordination of care and the delivery of medical services to elderly patients with chronic illnesses. The projects would design and test new models of care coordination, and direct-care workers would be granted opportunities to advance their careers through additional training, increased compensation, and expanded roles..TSCL is happy to announce that one key piece of legislation gained support in the House of Representatives this week. The Improving Access to Affordable Prescription Drugs Act gained a new cosponsor in Representative Pete Visclosky, bringing the total up to twenty. If signed into law, H.R. 1776 would require the federal government to negotiate lower drug prices for Medicare beneficiaries, allow the importation of prescription drugs from Canada, accelerate the closing of the Part D "doughnut hole," and cap monthly prescription drug expenses at 0, among other things..The Senior Citizens League is hopeful that Congress will pass responsible reforms to the Social Security and Medicare programs as soon as possible to strengthen benefits and restore the solvency of the Trust Funds. For more information about legislation that has been endorsed by The Senior Citizens League, visit the Bill Tracking section of our website.

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A tax reform plan being floated by the House GOP would meet strong opposition from activists and older voters, warns The Senior Citizens League. The plan would end the 12.4 percent payroll tax that funds the monthly checks of about 60 million current Social Security beneficiaries. "This proposal would sabotage Social Security for both current and future Social Security recipients," warns Mary Johnson, Social Security policy analyst for TSCL..Your own retirement benefit would be low if you were to take it at age 64 - prior to reaching your full retirement age. Full retirement age at which you start receiving full, unreduced benefits, is rising. For people born in 1956 your full retirement age is 66 and 4 months..Yet even a "limited approach" like this one could create huge new long-term costs for Social Security and Medicare. Citizenship is not a requirement to claim Social Security benefits. Work authorization, like the type under discussion in the House, is all that immigrants would need to at some point file claims. … Continued

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New Bill Would Expand Medicare Coverage.In normal political times neither party would allow Medicare to be cut. But because of our current highly partisan times, it would require ten Republicans to join with Democrats to stop the cuts to Medicare with new legislation if reconciliation were used..Using this approach would put low to middle benefit recipients on more equal footing. The draw- back however, is that people with higher benefits would experience a benefit cut. They would not receive a COLA based on the benefit that they actually receive, and the dollar amount would be lower than what they would have received under current law. While that loss would be relatively small at first, it would compound and rapidly grow deeper over time. It would tend to lower the total amount of income that retirees with higher benefits could expect to receive from Social Security. This sort of proposed change to the COLA would quite likely encounter fierce push back, particularly from those affected, and even from middle-income people who delayed their retirement perhaps by as much as 4 years or more to allow their benefit to grow to its maximum. … Continued

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