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  • Are You Affected By High Out Of Pocket Costs For Covid 19

    Members of the House were scheduled to vote on a stopgap funding measure on Tuesday, but leaders have delayed the vote until next week due to a lack of support. It remains to be seen whether or not lawmakers will successfully avert the shutdown, but Appropriations Chairman Harold Rogers (KY-) remains optimistic. He said of the delay this week: "We've got some time left here, and conversations are taking place among the various elements … It's not time to panic." .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. .But among other things, if consumers can't find the cost of health care, the idea of the free market is impossible. … Continued

  • Benefit Bulletin August 2012

    But among other things, if consumers can't find the cost of health care, the idea of the free market is impossible. .Some 48 percent of participants in The Senior Citizens League latest survey, reported that they expect to pay income taxes on a portion of their Social Security benefits for the 2020 tax year. That's down from 53 percent who reported paying income taxes on their Social Security benefits for the 2019 tax year. But that wasn't the only change. Far fewer retirees also indicated that they would not pay tax on their Social Security benefits — 32 percent for 2020 tax year versus 41 percent for the 2019 tax year. .Recent proposals would provide "block grants" or cap federal funding for Medicaid and give states additional flexibility over how they run their programs. Under the budget plan passed by the House of Representatives, beginning in 2013, the state grants would increase annually at the rate of overall inflation, but that rate, as seniors are all too aware, is far below that of inflation for healthcare costs. Analysts say that, as a result, states that cannot keep up with the program costs, are likely to scale back coverage. TSCL believes that Congress should consider better options to ensure that the seniors who are dependent on long-term care services will be able to continue to rely on those services. … Continued

You are asking yourself the right questions. Many people buy life insurance to replace the income that would be lost when the policyholder dies and no longer is paid a salary. Once you stop working, most of your income is likely to come from retirement savings, pensions, annuities, and Social Security, which pays survivors benefits, if you or a spouse dies. There can be special needs, however, and for some retirees, life insurance may make sense. Here are a few major considerations: .What Happened To My Higher Retirement Benefit? .Government agencies will identify themselves. .This week, in elections nation-wide, Republicans in the House and Senate held on to their majorities, and President-elect Donald Trump defied odds to win the White House. .On Wednesday, after a nine-hour markup, lawmakers on the House Budget Committee approved a .9 trillion resolution to fund the federal government through fiscal 201The proposal includes .5 trillion in spending cuts, including 9 billion to the Medicare program. To accomplish this, it would transform Medicare into a premium-support program over a seven-year period, where beneficiaries would be given vouchers to purchase private insurance from a list of authorized plans. .7 million immigrants have a Social Security number issued in their names — obtained either by using a fraudulent birth certificate, or overstaying a visa that has expired. The actuary said this group can "work, pay taxes, and have earnings credited to their record for potential benefits in the future." .Uncovered healthcare costs — In planning your budget, include costs that Medicare doesn't cover — dental care, eye exams and eyeglasses, for example. When shopping health plans, some MA plans may offer extra benefits like these. .A majority of seniors 65 and older who receive Social Security depend on it for at least 50 percent of their total income, and one in three beneficiaries rely on it for 90 percent or more of their total income. TSCL is fighting proposals to cut COLAs. TSCL believes that seniors could receive a more fair COLA if the government were to use a consumer price index that more closely tracked the spending patterns of seniors. .Although many older Americans continue to face challenges as they approach retirement, Congress can and should do more to ensure that no retiring American needs to worry about making ends meet.