And it could be worse if inflation is lower and Medicare Part B premiums are higher. Due to a special provision of law known as the Social Security hold harmless provision, when the dollar amount of the Medicare Part B premium increase is greater than the dollar amount of an individual's COLA, the Medicare Part B premium is adjusted to prevent a reduction in Social Security benefits from December of the previous year. Those affected by hold harmless wind up with no growth in their net Social Security benefit after the deduction for Part B premiums. That leaves nothing extra left over to deal with other rising costs such as housing and drug costs..Sen. Enzi, one of the leading negotiators, said in a statement: "Congress is poised to approve a 10-year balanced budget for the first time since 2001, which represents an important step in confronting the nation's chronic overspending. This will help change the way we do business here in Washington to make the government live within its means just like hardworking families.".In addition, The Senior Citizens League believes that an extension of the tax holiday could make a permanent cut more likely, further jeopardizing the program's ability to fully pay Social Security benefits in the future..The SSA and the AARP say, however, the Notch affects only those born during the five-year period of 1917 through 192Those born during that period were covered by a special transitional benefit formula, the purpose of which was to provide a 5-year phase-in for the new 1977 benefit formula..Tightening eligibility requirements, including requiring disability applicants to have worked six of the past ten years, and modestly increasing the age at which it becomes easier to qualify for benefits from forty-five to fifty..Low-income "dual-eligibles" - Medicare beneficiaries whose incomes are so low that they are also eligible for Medicaid. Part B premiums are paid on their behalf by state Medicaid programs..TSCL recommends that anyone unsure of how the provision may affect you should talk with the human resources director of your former employer or union through which you receive benefits. To learn more about TSCL's legislative work read the weekly legislative updates; or to learn more about TSCL's key issues, please visit..According to the Senate Special Committee on Aging some drug companies share this common business model which is leading to huge price spikes:.table-1

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The sharp plunge was the result of changes that Congress made in 1977 to a Social Security benefit formula glitch that over-adjusted for inflation. At the time, Social Security actuaries forecast that if left unchanged, some groups of future retirees would receive benefits that would be even higher than their average earnings during their working years. Social Security was almost insolvent..Call your drug plan to ask about the coverage of the new generic and the expected co-pay. Be forewarned: according to Consumer Reports magazine, some Medicare drug plans charge lower co-payments for the branded version than for its generic counterpart. That has to do with agreements between insurers and pharmaceutical companies that make it seem like the name brand is the better deal.."A New and Rising Price Tag for Trump's Wall: .6 Billion," Jonathan Weisman, The New York Times, February 10, 201"The Wall Should Be Paid For," Committee for a Responsible Federal Budget, January 30, 201Summary of the Sequester Offset Solutions Plan, Committee for a Responsible Federal Budget, September 16, 2015. … Continued

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Alexandria, VA majority of Social Security recipients would have to raid retirement savings or use a line of credit to meet even relatively modest financial emergencies, according to a new poll by The Senior Citizens League. When retirees were asked how they would raise ,000, 49 percent of respondents said they would take money from savings and another 30 percent said they would use a line of credit or borrow..This week, lawmakers returned to their home states and districts for a two-week spring recess. They are expected to return to Capitol Hill on Monday, April 2In the meantime, many Members of Congress will be hosting town hall meetings, which The Senior Citizens League encourages its supporters to attend..TSCL is supportive of the President's efforts, but we are taking a wait-and-see approach because, as so many things are in Washington, D.C., the devil is in the details. … Continued

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