Two Key Medicare Bills Gain Support.Efforts are quietly underway to lay the groundwork for a far-reaching fiscal deal that involves Social Security cost-of-living adjustments and Medicare benefits. White House officials and Senate Republicans have met in a series of private sessions in recent months. In his fiscal year 2014 budget, President Obama proposed reducing the growth in COLAs as well as raising Medicare premiums, reducing benefits of higher income seniors and increasing the Medicare eligibility age. Everything is still on the table, the pressure point being the debt limit. The government is expected to hit the debt limit ceiling the statutory borrowing limit - sometime this fall..The Center for Medicare and Medicaid Services continued its preparation effort for the new health care law by announcing Marilyn Tavenner as its new top official. The move comes as the organization seeks to increase insurance industry oversight amid the overhaul process. Tavenner replaces Donald M. Berwick..Accelerate retirement account distributions when you have excess deductions. If your standard deduction will exceed your taxable income this year, consider withdrawing a little more retirement funds if you will need them this year. Doing so when you have a low or even a zero tax rate will potentially help you avoid paying more in the future when your deductions are lower or taxes rates are higher..The federal government remained partially closed this week for the fifth straight week. It remains the longest government shutdown in United States history, and at the time of writing this week's legislative update, only minor progress had been made towards a bipartisan deal to end it..When left untreated, these conditions often cause serious health complications and injuries. But when treated successfully, the result is improved overall health and lower costs for Medicare and patients. For example, Mary J. who lives near Charlottesville, Virginia recently told us she suffered for years with severe chronic pulmonary and gastric infections. After periodontitis was discovered and treated with oral surgery last year, her chronic cough and inflammatory symptoms cleared up completely. Since then, Mary has successfully gone without inhalers and frequent visits to her primary care physician, gastroenterologist, and pulmonologist, saving Medicare thousands of dollars..If you do return to work, it is possible that your earnings could subject a portion of your Social Security benefits to taxation. If this happens, you could wind up with only a small gain, or even lose money after paying the increased tax on earnings and Social Security benefits. Before taking on work to earn extra income, calculate the tax cost. A good tax guide like J.K. Lasser's Your Income Tax contains worksheets to help you do this. Tax guides can often be found in many public libraries, or visit for more information..The Senior Citizens League enthusiastically supports the Seniors Have Eyes, Ears, and Teeth Act, and we believe its passage is essential in order for older Americans to maintain their dignity and good health in retirement. In the months ahead, we look forward to working with Representative Roybal-Allard to help build support for her bill, and we hope to see it signed into law before the end of this year..Here's a theoretical one: Let's say the undocumented immigrant parents of four U.S. -born children have lived in the U.S. for twelve years and are found eligible for work authorization and Social Security numbers. Prior to getting her Social Security number, the mother worked as a housekeeper and was paid in cash. No taxes were paid into Social Security or Medicare. Because none were paid, and no wages were reported, the mother does not have any Social Security coverage yet.

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This week, House lawmakers remained in their home districts for the final week of the August recess. Meanwhile, The Senior Citizens League saw support grow for one key bill that would increase competition in the pharmaceutical industry and improve access to affordable prescription drugs..People who don't have their premiums deducted from Social Security payments, including those still working and who haven't started Social Security yet..Lower revenues from the taxation of Social Security benefits. About 4% of Social Security's financing comes from the taxation of benefits. Because many retired household incomes were impacted by lower earnings, along with business and retirement account losses in 2020; the amount of revenues from the taxation of Social Security benefits was lower in 2020. … Continued

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According to The Social Security Trustees, the Disability Insurance Trust Fund is expected to become fully insolvent by the end of next year. Without Congressional action, Social Security trustees estimate there won't be enough tax revenues to pay full scheduled disability program benefits at the end of 201More than 10 million disabled beneficiaries and their dependents face cuts of about 19% in their monthly payments if nothing is done..The costs don't stop at ,350. Unlike other types of health insurance, there is no out-of-pocket annual maximum for beneficiaries enrolled in Part D. After spending the ,350 in drug costs, Part D plan enrollees pay the greater of 5% co-insurance or copays of .60 for generics and .95 for brand or non-preferred brand drugs. For someone taking high cost specialty drugs, the 5% coinsurance could still be in the hundreds of dollars and, would continue for each refill until the end of the year..I believe Social Security is a promise made to hard working Americans a promise that must be kept. We need to improve our economy to get folks back to work and paying into the program so our children and grandchildren have access to the same social safety net. I will work with my colleagues on both sides of the aisle to keep these promises made to seniors and it starts by passing H.R. 973. … Continued

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