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  • Best Ways To Save Four Secrets To Maximizing Your Social Security Benefit

    In addition, the full retirement age — the age at which individuals qualify for full, unreduced Social Security benefits, is rising. Retiring prior to the full retirement age permanently reduces benefits by as much as 30 percent. The full retirement age, which is currently is 66, goes up by 2 months per year for people born after 1954 through 195It is 67 for those born in 1960 and thereafter. .Currently doctors are paid for every service they provide, giving a big incentive for wasteful duplication. Patients wind up getting repeated tests, X-rays, CT scans and procedures involving expensive computerized equipment. .Generally, retirement planners say that to maintain their current standard of living, retirees need to replace 70 percent of their pre-retirement earnings. However, with recent hits to personal savings and 401(k) balances, households are struggling with an erosion in the value of their retirement savings. Also, while workers may plan to retire at a certain age, their retirement decisions are often subject to circumstances outside of their control. A study conducted by McKinsey & Company found that roughly half of all workers who retired earlier than they planned cited health reasons or needing to care for a family member; the other half cited job loss. … Continued

  • Over 50 Organizations Sign Letter To Congress Opposing Chained Colas

    This is a major blow to military retirees whose reasons for settling around a military base included getting the health care they were promised when they agreed to serve a career in the Armed Forces. .The term "Notch" refers to the disparity in Social Security benefits paid to people born from 1917 through 1926 and those paid to people born before and after them with similar work/earnings records. Many of those born during the Notch period feel they have not been treated fairly and are not receiving the benefits that Congress intended. On the other hand, the Social Security Administration (SSA), some government officials, and the AARP (formerly the American Association of Retired Persons) say that those born during the Notch period are treated fairly and receiving the benefits that Congress intended. The SSA and the AARP say that Social Security does not promise a specific amount of benefits, rather Social Security is designed to replace a certain percentage of pre-retirement earnings. Who is correct? .The first is H.R. 446, the Protecting Seniors from Emergency Scams Act. … Continued

Forty-eight percent (48%) have gone without essentials including food, disinfecting products, face masks, due to shortages, rationing or high prices. .It is bad enough that non-medical professionals are involved in criminal activity like this but for a doctor to be part of it is outrageous. .Medicaid is a federal and state healthcare program for low - income people. By law, the federal government pays no less than 50% of the costs, and states pay the balance. For the poorest states, the federal portion can be as high as 73%. .We are still learning how well COVID-19 vaccines keep people from spreading the disease. .Under current law, the Medicare program is prohibited from negotiating prices with pharmaceutical companies despite the fact that other federal health programs are required to do so. As a result, older Americans enrolled in Part D often pay much higher prices than other American consumers for their prescription drugs. If adopted, this bill would lead to billions of dollars in savings for the Medicare program, and it would immediately reduce prescription drug prices for Medicare Part D beneficiaries. .He said the out-of-pocket costs that patients are paying need to be fixed and that pharmaceutical company executives would be willing to help cover the cost of such reform. However, he said they want to ensure their contributions would go directly toward lowering patient costs and not into the federal budget to be used for other things. .Unlike many other organizations TSCL accepts no government funding -- this leaves us free to truly represent the interests of supporters like you. .The Senior Citizens League proposes that Congress enact an emergency COLA or one - time benefit boost payable for 202TSCL supports legislation that would ensure that COLAs are no less than 3 percent. But the organization also recognizes that the Congressional Budget Office (CBO), in its January 2020 baseline, estimated that a 2.5 percent COLA would be payable for 202Thus, providing a 2.5 percent emergency COLA would provide what has already been projected for Social Security benefits by the CBO. .SSI is a federal program that provides monthly benefit payments to people age 65 or older, who are blind or have a disability and who have little or no income and resources. People who receive SSI are also eligible to receive food stamps and Medicaid.