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Press Release Doughnut Hole
Under a rule change that will take effect in July the Center for Medicare and Medicaid Services (CMS) will allow insurers and employers to exclude certain copay assistance programs from counting toward deductibles and out-of-pocket maximums. The rule applies even for expensive brand-name drugs with no generic alternatives. .This past week, Reps. Jerrold Nadler (NY-8) and Richard Neal (MA-2) signed on to H.R. 1332, the Social Security Fairness Act. The total is now at 14Sen. Tom Udall (NM) signed on to S. 2010, the Social Security Fairness Act, bringing the total to two. .A seventeen-member conference committee comprised of Democrats and Republicans from the House and Senate is currently working towards a long-term bipartisan deal to keep the federal government operating. Should they fail to reach a compromise before the looming deadline, it will shut down once again. … Continued
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Ask The Advisor April May 2021
In exchange, annuities pay you a monthly income for the rest of your life, an income that can last 20 or 30 years. There are joint and survivor type annuities that continue the monthly income to your spouse after your death, and you can also buy annuities that have a 3 percent annual cost-of-living adjustment. .There are three factors that affect your final benefit amount: .Congress Still Can't Get Its Work Done … Continued
In your book The Hard Times Guide to Retirement Security you say that today's retirees need to "rethink retirement." In what ways do our ideas about retirement need changing? .But for more than two months, state inspectors failed to enter half the country's homes — a revelation that prompted CMS to crack down. . It depends on whether you can wait just a little bit longer to start benefits.. .This week, one new cosponsor – Rep. Suzan DelBene (WA-1) – signed on to Rep. Peter DeFazio's (OR-4) No Loopholes in Social Security Taxes Act (H.R. 1029), bringing the total up to thirty-one. If signed into law, the bill would extend the solvency of the Social Security Trust Fund by subjecting all income over 0,000 to the Social Security payroll tax. Currently, the payroll tax cap sits at 7,000, and no income over that amount is taxed. .President Trump also said this last weekend that over the next 2 weeks he will pursue an executive order requiring health insurers to cover pre-existing conditions. "We will be pursuing a major executive order" on pre-existing conditions, Trump said during a news conference in N.J. .As a result of the inadequate funding, both the both the Old-Age and Survivors Insurance (OASI) and the Disability Insurance (DI) programs have been struggling to serve the public. More than one million applicants are currently waiting to hear whether they qualify for DI benefits, and those who have appealed recent rejections must wait 600 days or longer for their cases to be re-heard. In 2017, 10,000 individuals died while waiting on their DI eligibility decisions. While waiting, they had no access to DI benefits or Medicare coverage, which recipients with long-term disabilities can receive after they are enrolled in the program for two years. .Most individual taxpayers will pay lower taxes, at least in the first few years, tax analysts say. But the tax cuts affecting middle-to-low-income people are temporary, and are set to expire in just eight years, by the end of 2025, while the tax cut for families in the very top income bracket is permanent. That's expected to leave the majority of taxpayers with higher tax bills down the road — something most people living on fixed income simply can't afford. TSCL is still assessing the expected impacts of the new legislation. .Taxpayers who receive pension payments. .TSCL enthusiastically supports H.R. 1902 and H.R. 242, and we were pleased to see support grow for both of them this week. For more information, visit the Bill Tracking section of our website.
