The Biden administration announced last week that it will begin distributing a limited number of Covid-19 vaccine doses directly to retail pharmacies across the nation..Now Medicare Part A is projected to again become insolvent, perhaps by 202Policy experts are proposing that the revenues raised by the 3.8% net investment income tax should be "re-directed" to the Part A Trust fund rather than the federal government general revenue..An insurance industry source said Congress' deliberations are "freaking out" companies who worry that seniors will drop their private plans en masse and migrate to traditional Medicare once the new benefits are in place. But the source said the industry is mindful of the optics of publicly opposing coverage of eyeglasses, dental care and hearing aids, and is largely lobbying behind the scenes..The number of people who rely on Social Security for 90% or more of their income is growing. In 1976 one in four Social Security recipients relied on Social Security for most of their income, today one in three do. "Those who do rely on Social Security for most, or all, of their income are living very close to the poverty level," Cates says. The average Social Security benefit in 2014 was only ,304 for the year. That's just 18% above the U.S. poverty level - ,670 for a household of one..To read our full recommendations to Congress or for more information on the recent budget deal, visit our website at..Social Security Taxation Question Pushes Action on "Boost Bill" Into 2020.[1] Combined Old-Age, Survivors, and Disability Insurance Trust Funds February 2014 Baseline, Congressional Budget Office..If signed into law, the Social Security Preservation Act would require that all annual surpluses of the Social Security Trust Funds be invested in marketable interest-bearing obligations of the United States or obligations guaranteed by the United States. It also outlines certain requirements for determining the annual surplus of the Trust Funds. With the Social Security Trust Funds set to expire in 2033, TSCL believes that it is now more important than ever for Congress to protect and secure the program's monies. Rep. Paul's bill would do just that, and we were pleased to see support grow for it this week..Ignoring dental problems, though, or skipping care, can harm your health. Chronic gum infections are associated with an increased risk for heart attack according to some studies.

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Since its inception, Medicare has undergone a number of changes. Since 1972 the program has covered disabled persons under 6In the last 25 years, beneficiaries were given the option to obtain services through private managed care arrangements. And most recently, the passage of the Affordable Care Act strengthened Medicare by closing the prescription "donut hole" and expanding preventative services with no deductible or co-pay..During recent healthcare reform hearings, TSCL submitted a statement to the Senate HELP Committee expressing support for an emergency COLA in 20The COLA could be set high enough to cover the rise in Medicare Part B and the average rise in Part D premiums. Doing so would help prevent reductions in seniors' benefits, and a Medicare notch in premiums, and provide protection from benefits taking a big hit in buying power. TSCL believes that H.R. 3557 as introduced by Representative Walter Jones would do just that..Social Security provides an essential foundation to American's retirement plans, but it simply was never designed to be the sole source of retirement income. Social Security replaces about 40% percent of earnings of the typical retiree. TSCL believes that today's retirement crisis calls for more adequate, not reduced, benefits. … Continued

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However, pharmaceutical companies have sent in multitudes of lobbyists to stop the House Democrats bill, arguing that it would deter the creation of new drugs and lead to suffering and death..TSCL enthusiastically supports the CPI for Seniors Act since we believe it would go a long way in ensuring the retirement security seniors have earned and deserve. In the coming months, we will work tirelessly with Congressman Duncan to help build support for his critical new bill..According to the Federal Register "Amounts collected under section 1411 are not designated for the Medicare Trust Fund." The Joint Committee on Taxation in 2011 stated that's because "No provision is made for the transfer of the tax imposed by this provision from the General Fund of the United States Treasury to any Trust Fund." … Continued

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