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Most surviving children would not be eligible for Notch Fairness Act benefits, but the issue should concern every single child of a Notch Baby. Recent Social Security reform proposals to attach a "price index" to the Social Security benefit formula would cut benefits for future retirees in a manner similar to the 1977 changes that led to the Notch. In addition, Congress thus far has taken no constructive non-partisan action to address Social Security's looming shortfall - meaning they may have to make very deep and abrupt cuts when they can no longer stall for time..TSCL Endorses Lock-Box Bill."For this group of Medicare beneficiaries, this will also be the largest Medicare Part B increase in five years after premiums remained relatively flat since 2013," says Mary Johnson, a Social Security and Medicare Policy Analyst for The Senior Citizens League. The jump in premiums is due to a special provision of law known as "hold harmless," which protected millions of Social Security recipients from reductions to their Social Security benefits in 2016 and 2017, when then the annual - cost - of - living adjustments were zero and just 0.3 percent, respectively..The following Members of Congress, among many others, will be holding town hall meetings in the days ahead: Reps. Eric Swalwell, Susan Brooks, Gary Palmer, Lamar Smith, Bruce Westerman, Randy Hultgren, Eleanor Holmes Norton, Marc Veasey, and Ed Perlmutter..Known as "auxiliary beneficiaries," they are children, widows, spouses, and parents, entitled to benefits on the record of another individual. The Social Security Act requires that individuals first entitled to benefits as of June 1, 1989 or later, must have applied for a Social Security number to receive benefits. But a recent audit by the Social Security Office of Inspector General found that, as of June 2014, there are 11,179 auxiliary beneficiaries without SSNs receiving benefits because of a loophole - they became entitled to benefits prior to June 1, 1989 and therefore are not required to have an SSN on the Social Security Administration's Master Benefit Record or to have applied for one to receive benefits..The current Social Security system is like "longevity" insurance. Workers pay into the system through payroll tax withholdings up to the taxable limit on earnings. In return, retirees, and dependents on their account, receive monthly income when they claim benefits. According to projections by Johnson, an age - 66 retiree, who claims benefits in 2017 with an average benefit of ,300 a month, can expect to receive roughly 0,000 over the course of a 25- year retirement, assuming a 2.2 percent annual cost-of-living adjustment..Visit the customer service desk and request a refund of the overcharge. If you paid by credit card, make sure you have the card with you for a credit. This may resolve the problem. If it doesn't, contact your drug plan, tell them the problem, and request forms to file for claim reimbursement..Under current law, Social Security beneficiaries whose total income exceeds specific thresholds are required to claim a portion of their Social Security benefits as taxable income. Depending on income, as much as 50% to 85% of Social Security benefits could be taxable. A bulletin from the Social Security Administration estimates that the median share of benefits owed as tax for most retirees would be far less than that, however, remaining close to 12% over the period 2020 to 2050..The "Medicare Notch" could affect a growing number of people if inflation remains unusually low while Medicare premium increases are relatively high. With no COLA in 2011 as the Social Security Trustees predict, people protected by the hold harmless provision in 2009 would continue to pay .40 per month, people who enrolled in 2010 would continue to pay 4 because now they would be protected by hold harmless, but new enrollees in 2011 would pay an estimated 0 per month.