Survey participants were asked: "Since the start of 2021, which of the following budget categories increased fastest in your household?".In most years, seniors receive a small increase in their Social Security checks, intended to help them keep up with rising costs. But since 2000, the Social Security Cost-of-Living Adjustment has increased benefits just 38 percent while typical senior expenses have jumped 81 percent, more than twice as fast. Inflation has been at historic lows in recent years and seniors received a 1.7 percent COLA this year..This week, one new cosponsor Rep. Matt Cartwright signed on to Rep. Peter DeFazio's No Loopholes in Social Security Taxes Act. The cosponsor total is now up to twenty-seven. If signed into law, Rep. DeFazio's bill would subject all income over 0,000 to the Social Security payroll tax. Currently, the payroll tax is capped at 3,700 and no income over that amount is taxed. H.R. 1029 would reportedly add another fifty years to the solvency of the Trust Fund in a responsible way, without reducing benefits for seniors..In 2019, there are a total of ten different Medigap plans, "A" through "N." Congress closed Plans "F" and "C" because they cover the Medicare Part B deductible. The thinking is that deductibles prevent "over utilization" of Medicare benefits. The Part B deductible is 5.50 this year and it rises at the same pace as the Part B premium. According to research by Johnson, Part B premiums have increased about 10 percent per year since 2000, making it one of the fastest growing costs in retirement. "Requiring retirees to pay deductibles, or higher deductibles, has the biggest financial and health impact on middle-income Medicare beneficiaries with modest means," says Johnson. "Many put off medically necessary care if they can't afford the deductible, and their health can get worse when they do," she says.."Implications Of Different Indexing Choices," Government Accountability Office, September 2006, GAO-06-804, pg. 5"GAO's Analysis of the Notch Issue," GAO, September 16, 1994, GAO/T-HEHS-94-236..Sadly, Social Security benefits and cost-of-living adjustments specifically, have not kept up with inflation in recent years. The Senior Citizens League has estimated that the 2021 COLA will be just 1.3%., the second lowest in its history. This comes as our nation grapples with a once-in-a-century pandemic and seniors are relying on their Social Security benefits to get by more than ever before..Experts estimate that fraud, waste, and abuse within Medicare cost more than billion each year. What efforts do you support to ramp up prevention?.If she delays until age 70, she'll receive ,226 more because of the Social Security delayed retirement credit. Her starting benefit will be ,980, she will receive 0,891 over her retirement, and her final monthly benefit would be ,417..That was almost 10 years ago. Today my cancer is in remission. I seem to have no side effects and the lesions on my liver have faded and seem to be healed over. I had every reason to believe that Aromasin was the medication I would take for the rest of my life. I am now 82.
