How Would Importing Prescription Drugs From Other Countries Help People in Part D Plans?.If signed into law, the bill would take several steps to strengthen the Social Security program. It would make the cost-of-living adjustment more accurate by adopting an inflation index specifically for seniors, increase the minimum Social Security benefit to 125 percent of the poverty line, and enact an across-the-board benefit increase of approximately 2 percent, among other things. It would also responsibly strengthen the program's finances and ensure that the trust fund is fully solvent through the year 2100..The subsidies are based on household income. If your income went down in 2014 you may be entitled to a bigger health insurance subsidy tax credit. But if your income goes up you would get a lower premium subsidy..And the order that directs clinics that qualify for steep pharmaceutical discounts under a government program for low-income patients to pass savings on insulin and EpiPens directly to those patients only applies to about 1,000 community health centers, not to hospitals that are frequently flagged as diverting the discounts away from patients toward other programs..As further reinforcement, my colleagues and I introduced the Prioritize Spending Act that directs the Treasury to pay Social Security and Medicare first. As of this writing, the President and Senator Reid refuse to allow it to become law..A growing number of workers expect to rely heavily on Social Security for most of their income, but three-quarters of current retirees are receiving reduced benefits. The retirement age is gradually rising to 67 and, by taking benefits when first eligible at age 62, beneficiaries settle for permanently reduced benefits. Delaying benefits until "full retirement age" or thereafter is the best way to maximize benefits. For example at full retirement age retirees due a monthly benefit of ,000 would receive only 0 at age 62 if they took it. Individuals who can continue to work and delay retirement until 70 can receive a benefit ,320 instead. But even the individuals who wait until age 70 to allow benefits to grow to their maximum, would still be living close to the federal poverty level if Social Security is their only income..The Republicans on the committee include: Sens. Jon Kyl, John Barrasso, and Mike Crapo ; and Reps. Tom Price, Nan Hayworth, Renee Ellmers, Dave Camp, Fred Upton, Tom Reed, Kevin Brady, and Greg Walden..The hold harmless provision kicks in when the dollar amount of an individual's Medicare Part B premium rises more than the dollar amount of an individual's COLA adjustment to prevent a reduction in Social Security benefits. The provision applies to individuals with incomes below ,000, and whose Medicare Part B premium is automatically deducted from their Social Security benefits. Johnson estimates that about 35.5 million Social Security recipients were held harmless in 2016 and 201"People who have been held harmless in both those years are paying premiums that are roughly 8 per month in 2017 on average, a difference of about from the current 4 premium. However, for many of those people, especially those with below - average Social Security benefits, the 2018 COLA won't be high enough to cover the full 4 Part B premium..Since 1893, the Senate has observed Washington's birthday by selecting one of its members to read Washington's Farewell Address. The assignment alternates between members of each political party. At the conclusion of each reading, the appointed senator inscribes his or her name and brief remarks in a black, leather-bound book maintained by the secretary of the Senate.
