Flo Was Wrong I Do Want Big Government In My Medicine Cabinet
Super-Committee Republicans offer a 300 billion dollar tax-revenue concession. After an initial pledge not to raise taxes over the next decade, Republicans are willing to allow tax increases to help meet the 1.2 trillion dollar debt-reduction mandate by November 23rd. .Every day approximately ten thousand people reach their retirement age. Many have spent a lifetime working to care for their families and save for retirement all while paying federal taxes. The taxes paid into Social Security and Medicare have helped make these programs successful for past generations of retirees. .Interestingly, the big drug manufacturers do not like the new rule. A spokesperson for the Pharmaceutical Research and Manufacturers of America (PhRMA), the drug industry's largest trade group, said the rule is "unconscionable" for making it "harder for patients to use manufacturer cost-sharing assistance to lower their out-of-pocket costs for medicines." … Continued
Benefit Bulletin June 2013
Increase the retirement age: Raise both the eligibility age both for full benefits, currently at 66 and set to rise to 67 and, for the first time, raise the earliest eligibility age which is currently 62. .The situation is affecting lower-income seniors with modest resources because states require single seniors to exhaust nearly all of their assets, including their home equity, to qualify for Medicaid. Meyer reports that "Federal Medicaid rules allow states to exempt the home from consideration of financial eligiblilty if the family is making a good faith effort to sell, but not all states do." Depending on where they live, seniors may not qualify for Medicaid if they can't sell their home. .This week, the Senate Finance Committee met with a representative from the Obama administration to discuss alternatives to the Sustainable Growth Rate (SGR) formula. In addition, The Senior Citizens League (TSCL) saw five key bills gain new cosponsors. … Continued
Taxpayers may receive part of their credit in 2021 before filing their 2021 tax return. .Second, two new cosponsors – Representative Josh Harder (CA-10) and Representative Abby Finkenauer (IA-1) – signed on to the Social Security 2100 Act (H.R. 860), bringing the total up to 20This bill, if adopted, would comprehensively strengthen and reform the Social Security program. .At any rate, what this means is the legislation that TSCL is fighting to pass which would safeguard and improve Social Security and Medicare still has the possibility of passing this year. Most of those bills will involve new spending, which means they will need to be included in new funding legislation. .Social Security Notch Legislation Introduced .Federal law generally prohibits or restricts the payment of both Social Security and SSI to unauthorized noncitizens, but a number of exceptions exist. Although the perplexing web of rules differ for each program, immigration or disability attorneys are frequently involved in applicants' efforts to apply and qualify for SSDI or SSI benefits. In addition, illegal immigrants may be using forged or invalid Social Security numbers (SSNs) and papers when claiming benefits. .Have you heard anything about congress fixing a Social Security cut for those of us born in 1960? — K.S. .Earnings may cause your Social Security benefits to be subject to taxation. A portion of your Social Security benefits may be taxable if your income is over certain thresholds —,000 and up (individuals) or ,000 and up (couples filing jointly). .On Wednesday, Senate Budget Chair Kent Conrad laid out a long-term plan to reduce the deficit. His proposal, called the Fiscal Commission Budget Plan, nearly mirrors the recommendations made in 2010 by President Obama's National Commission on Fiscal Responsibility and Reform. According to Sen. Conrad, it would reduce the deficit by .4 trillion over ten years. .Do you have a mortgage? A recent survey by national mortgage banker American Financing found that 44% of Americans between the ages of 60 and 70 have a mortgage when they retire. Of that group, almost one-in-three expect to be paying on their mortgage for at least eight more years. Life insurance can cover mortgage payments if you die, and a term life policy can be timed to end with debt payments.