Although importing prescription drugs from Canada is illegal, a substantial portion of consumers in the U.S. already purchase lower-cost prescription drugs from Canada and other countries. A random sample survey of American adults in 2016 found that 8% of respondents said they or someone in their household had imported a drug at some point, which translates to about 19 million individuals.."The bottom line is that Medicare Part B premiums rise several times faster than COLAs, and those premiums are now high enough to cause the net Social Security benefits of millions of people to remain flat for years at a time," Johnson says. "We are at the point where this is affecting far more people than anyone ever anticipated, and it's a red flag that Medicare premiums are increasing too fast, while Social Security benefits are not adequately keeping pace," she explains..By Representative Charlie Crist.The report also states that "House leaders have said they're committed to moving forward on H.R. 3, citing polls showing strong bipartisan support for empowering Medicare to negotiate drug prices. House Democratic leaders still see the infrastructure package as their best chance of passing major drug reforms, despite concerns raised by the moderate members, a senior aide said..A majority of the 54 million senior and disabled Americans who receive Social Security depend on it for at least 50 percent of their total income, and one in three beneficiaries rely on it for 90 percent or more of their total income..Dependentparent benefit based on account of person who has reached age 62..So far activists, including TSCL's members and supporters, have managed to keep Capitol Hill lawmakers wary of making major changes. But the issue isn't going away any time soon. The nation will once again reach the federal debt limit by the end of next year, and at the same time, lawmakers will be confronted with the looming insolvency of the Social Security Disability program. Deficit reduction battles are likely to dominate the Congressional agenda once again, and cutting COLAs remains the target of major deficit reduction plans..A new study recently found that Social Security benefits have lost 34 percent of their purchasing power since 2000 due to rising costs and inadequate COLAs. Do you support the bipartisan CPI-E Act, which would make the COLA more fair and adequate?.What can you do? Share this story. If you or someone you know was born in 1960, contact your Members of Congress! Let your Representative and Senators know that you are concerned about the permanent 9% cut that would affect the retirement benefits of everyone born in 1960. We can make Social Security more equitable, but it takes working together to make that happen.

About State Legislatures Continuity Of Legislature During Emergency

In the days and weeks ahead, TSCL will be keeping a close eye on the evolving tax reform discussions on Capitol Hill and we will continue to advocate for policy options that would ensure the financial security of older Americans, like the three mentioned in last week's legislative update. For progress updates, visit the Legislative News section of our website or follow TSCL on Facebook or Twitter..The effect tends to be tempered by the fact that the federal poverty level itself is adjusted for inflation every year, using the Consumer Price Index for Urban Consumers. In most years the CPI-U grows slightly faster than the index used to adjust Social Security benefits, the Consumer Price Index for Urban Wage Earners and Clerical Workers. Thus, it tends to keep pace with the COLA. But in 2020, the CPI-U grew more slowly than the COLA, growing just 1% instead of the CPI-W's 1.3%. Thus, SNAP benefits and many other types of benefits were reduced or even eliminated this year for some beneficiaries..Out-of-pocket costs for deductibles, co-pays and co-insurance. … Continued

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On the heels of Greenspan's recent statement, President Obama's Fiscal Commission is due to release itsplan to solve the growing U.S. deficit by December 1st of this year. The Commission is eyeing major cuts to Social Security - including cost-of-living adjustments cuts that would affect 53 million current beneficiaries..Unlicensed loan offers through the mail, via telephone, or door-to-door. "Auto payments of per month! Interest rates as low as 2.4 APR! Keys to the door of your next car!" It's not unusual to find auto loan offers in your mailbox, but beware. Make sure any lender you work with is legitimate, and licensed..Late this week, lawmakers in the House and Senate adjourned for a seven-week summer recess. They are expected to return to Capitol Hill following the Labor Day holiday, on September 6th. In the meantime, most Members of Congress will be holding town hall meetings in their home states and districts, presenting constituents with an excellent opportunity to have their most pressing questions answered before the looming elections. … Continued

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