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The Latest News on Social Security and Medicare

Conor Lamb, Congressional candidate for Pennsylvania’s 18th District, has just earned the endorsement of a national seniors’ advocacy organization.  The National Committee to Preserve Social Security and Medicare has sent a letter officially supporting Lamb, a U.S. Marine and former federal prosecutor who has vowed to protect Americans’ retirement and health security.


On February 12, 2018, President Trump submitted his Fiscal Year (FY) 2019 budget recommendations to Congress.  This budget would drastically cut programs that benefit America’s oldest — including many vulnerable — citizens.  The President’s spending plan calls for deep reductions to Social Security Disability Insurance, breaking his promise not to touch Social Security.  It also includes cuts in Medicare, another program he promised not to touch.


This Valentine’s Day marks the date when Americans with wages exceeding $1 million stop paying into Social Security for the year.  That’s because anyone earning at least that much hits the Social Security payroll tax cap of $128,400, barely seven weeks into 2018.  In stark contrast, the average American worker contributes payroll taxes throughout the year. 


President Trump released an FY 2019 budget today proposing deep spending reductions for Medicare, Medicaid, Social Security Disability Insurance (SSDI), and myriad other federal programs that help older Americans, the poor, and people with disabilities.


The bipartisan budget bill passed by Congress early this morning is, on balance, good news for seniors and the federal programs that provide them with financial and health security. 


For many people approaching retirement age, it’s a dilemma that can have consequences any way you look at it. File for Social Security retirement benefits early at age 62, put money in your pocket and get out of the rat race. Or, work longer, wait until full retirement age or even later to file and have more money coming in when you need it most. It’s a roll of the dice either way.


When to claim Social Security retirement benefits is one of the most crucial financial decisions facing older workers.  But not everyone makes informed choices.  The timing of the claim is key. The earlier a worker files to receive Social Security, the lower the monthly payment for the rest of that worker’s life.  


Strengthening Social Security & Medicare, Opposing Privatization and Defending the Affordable Care Act are some of the issues at the top of NCPSSM’s 2018 Legislative Agenda. 


Tax legislation approved by the Congress and signed into law by President Trump on December 22, 2017 (P.L. 115-97) will leave Medicare, Medicaid and Social Security vulnerable to benefit cuts because of its dramatic $1.5 trillion increase in the public debt – an increase that will have to be offset in the future.  


Americans contact the Social Security Administration at the most vulnerable points in their lives – upon the death of a loved one, upon retirement, or when facing a life-changing disability.   At those points, these individuals should receive compassionate, timely, and efficient service in response to their needs.

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