The first day of each month - when big payments go out for Medicare reimbursements, military salaries, veterans' benefits, pensions for military and civilian federal employees and more - is particularly bad. The third day of each month and Wednesdays, when Social Security benefits go out, aren't great either. Interest payments to Treasury's creditors go out on the 15th and at the end of each month of beginning of the next..Inflation data through April suggests that the annual cost-of-living adjustment for 2020 could be very low, perhaps 1.2%. Even though Social Security recipients received the highest COLA since 2012 this year - 2.8% - COLAs have averaged a meager 1.4% over the past decade. That's an unprecedented low rate of growth in Social Security benefits for an unprecedented period of time. From 1999 to 2009, COLAs averaged more than twice that rate of increase, at 3% per year..The bill that was approved on Tuesday includes a million boost in funding for the Social Security Administration, million for a new initiative that would work to prevent elder abuse, and nearly million in extra funding for the Social Security Disability Insurance program, which is currently struggling with a massive backlog of continuing disability reviews. Additionally, it includes .7 million for fraud prevention within Medicare and Medicaid more than twice the level that was allocated in fiscal 201According to the Subcommittee, every spent fighting fraud results in a return of .By increasing next year's funding, appropriators expect to see .4 billion in savings..Here's how it works. Undocumented immigrants use illegally obtained Social Security numbers to get jobs. Employers report earnings to the Social Security Administration as required by law. Those wages are used to calculate benefits when a worker files a claim. But when the Social Security Administration receives a name or SSN on a W-2 that does not match the agency's records, the wage report goes into an earnings suspense file while attempts are made to reconcile the discrepancy..The .5 billion for VA health care improvements will now be paid for with savings elsewhere in the budget. However, one Democratic aide said the funds used to pay for the program were gimmicks that do not harm spending in vital programs..About four million seniors born from 1917 through 1926, commonly referred to as "Notch Babies," would receive their choice of a ,000 lump-sum payable in four annual installments, or higher monthly Social Security benefits. The legislation, known as "The Notch Fairness Act" seeks to correct a disparity in benefits caused the last time Congress overhauled the benefit formula in 1977, that began to affect seniors who started to retire just two years later..It is far easier for physicians than hospitals to opt out of taking Medicare patients. Most hospitals must accept them since they rely on Medicare payments to fund inpatient stays, doctor training and other functions..Types of Flu Shots for People 65 and Older.Medicare Advantage plan cuts. So far, seniors have not been widely affected by cuts to Medicare Advantage plans, but many of the changes in reimbursements to plans have not yet taken effect. TSCL remains concerned that the reimbursement cuts would cause plans to drop extra benefits like eyeglasses and hearing aids that they now provide. Of greater concern is whether plan payments will be adequate for insurers to maintain their contracts with Medicare to provide services. When Congress cut plan payments too deeply in the past, insurers pulled out of markets all over the United States, leaving millions of seniors scrambling to find another health plan - most often at higher out-of-pocket cost.
