TSCL Endorses New Social Security Bill."Are You a Hospital Inpatient or Outpatient?" CMS, December 2009, Product No. 11435..Between January of 2000 and January of 2020, Social Security COLAs increased benefits by 53 percent, but the cost of goods and services purchased by typical retirees rose by almost twice as much - 99.3 percent. Medicare premiums and out-of-pocket costs, housing, and homeowner's insurance were among the most rapidly - rising costs over the past year..On Wednesday, the Senate Special Committee on Aging convened to hold a hearing titled "Stopping Senior Scams." At the hearing, members of the committee released this year's Fraud Book, which details the ten most common scams reported to the committee's fraud hotline. In 2017, the hotline received calls from more than 1,400 seniors who were the victims of robocalls, lottery scams, grandparent scams, and romance scams, among many others..By Rick Delaney.Thus the new formula went into effect almost immediately for most people and is one reason why retirees born over the ten-year period of 1917 through 1926 were affected, not only those covered by the five-year phase-in. In addition, the economy did not perform the way Congress and the Social Security Administration assumed it would under the new benefit formula. Slower than anticipated wage growth, and higher than expected price inflation, resulted in even greater benefit reductions than under original assumptions. These economic conditions persisted for a decade, thus affecting those born over a ten-year period..The assertion that many lower - income beneficiaries would lose benefits due to higher COLAs simply isn't the case, but is rather another example of twisted partisan rhetoric. Voters would be far better served by lawmakers who are more focused on solving problems of the majority of people than spreading misinformation to protect the tax breaks of the nation's wealthiest workers..This question is signficant in light of proposals.Notch Bulletin: Does Your Representative Support Notch Reform? Help Us Build Key Support Now.That doesn't even include any other Medicare costs, which are illustrated in the following chart, or costs that aren't covered by Medicare including dental and vision services.

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Alzheimer's is an issue of particular concern to TSCL and TSCL has donated ,000.00 for Alzheimer's research to the University of Minnesota..The survey found that a person receiving the national average Social Security benefit in 2000 - 6 per month - would have ,193.10 per month by 201However, because retiree costs are rising at a substantially faster pace than the COLA, that individual would require Social 0.30 more per month, or ,603.40 in 2018, just to maintain his or her 2000 level of buying power..Addressing the Social Security Trust Fund shortfall by increasing both the amount of wages subject to taxation and, increasing the payroll tax rate. The bill would immediately tax wages above 0,000. That threshold would not be adjusted annually, and the current law maximum of 2,900 would continue to increase as scheduled, slowly closing the gap, until all covered earnings would be subject to payroll taxes by 204The bill would raise the payroll tax rate 0.1 percentage point per year until it reached 14.8% - 2.4% higher than today. Currently employees and employers each pay 6.2% for a total of 12.4%. … Continued

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"Hospitals Struggle to Restart Lucrative Care After Coronavirus Shutdowns," Reed Abelson, The New York Times, May 17, 2020..them completed about 30 days BEFORE the annual fall Medicare Part D Open.The COLA will be announced in mid - October and the Medicare Part B premium often is announced by the end of November. … Continued

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