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  • Notch Bulletin March 2011 Feed

    In 2007 an analysis released by TSCL estimated that if 6 million illegal workers were to gain work authorization it would cost Social Security alone more than .6 trillion in benefits through 204Under current law, if illegal immigrants get work authorization at some point they could file claim for Social Security benefits. Currently the Social Security Administration uses all reported earnings to determine entitlement to benefits, including earnings for jobs worked illegally if the worker has kept evidence, like W2s, of earnings. .Some Members of Congress question whether the federal government would replace borrowing for Defense with borrowing for Medicare. Democratic Rep. Allyson Schwartz (PA-13) said the savings from the Iraq and Afghanistan wars would "offer a unique and limited opportunity to resolve this problem that grows every month." Other legislators warn, however, that it is misleading to think that these savings could be used as a "doc fix" offset. .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

  • Ask The Advisor Home Sale Stalled But Mom Needs To Move

    For those Social Security recipients concerned about making ends meet going forward, here are some tips: .Sertoma. This civic organization helps connect you with hearing assistance. To conduct a search, visit Sertoma. .In 2014 the Congressional Budget Office estimated that the average tax payment of Social Security households equaled 6.7 percent of benefit income — an amount that is estimated to grow to 9 percent of benefits by 203"That growth is likely to occur much more rapidly due to changes in the tax law, which uses a more slowly growing consumer price index to adjust the tax code," Johnson says. … Continued

"The bill has been fiercely opposed by Republicans and the branded pharmaceutical industry, which would likely lose revenue if the bill passed, leading to 40 fewer new drugs coming to the market in the U.S. over the next two decades, according to the CBO estimate. .The overpayment amount that the Social Security Administration is claiming in your case may be due to several reasons. Here are some things that may affect you: .To get a list of supplemental plans offered in your state, insurers and premiums, check your state's insurance commission's website for published guides comparing Medicare supplement premiums. Look up the plan you are interested in to compare premiums in your area. Be sure you look at the quotes for people who are your age, but do read on to get a feel for how premiums rise with age. Once you pin down a few likely insurers, you will need to call the insurer to confirm premium quotes for your zip code. .Senior housing experts say they frequently hear clients say they want to live in their own homes. But over time, it can become a great burden, especially when people don't have family that lives close by. Health and physical changes can make it difficult to climb stairs, keep the home clean, and keep up with paying bills. There may be a growing need for help with simple chores like driving to the pharmacy or grocery store. Home maintenance and repairs can even become a source of exploitation from unscrupulous vendors. .Senate Appropriations Committee Chairman Richard Shelby (AL) told reporters this week that a government shutdown later this month is a real possibility. He said: "This could make us all come together or it could drive us further apart. We don't know yet … I've been here on Christmas Eve." .Some financial advisors say that there may be some tax advantages to taking money out now while valuations are lower. This information is not intended as investment advice. We strongly recommend that you contact the custodian of your 401(k) or your financial advisor and discuss a plan for your income needs and to explore potential sources of funds. .I take a brand name drug that costs more than 0 per month in 2019 and I have a co-pay of In 2019, I hit the Part D coverage gap. Can you tell me how much I would have to pay in the Part D doughnut hole next year? .Until then, many Members of Congress will attend local events and hold town hall meetings. The Senior Citizens League (TSCL) urges its members and supporters to attend town halls in the coming weeks, since they are an excellent opportunity for constituents to communicate with their elected officials and have their most pressing concerns addressed. .In making the 1977 changes, Congress, wanting to avoid an abrupt change, allowed persons born from 1917 through 1921 to use a special transitional benefit formula or the new 1977 formula, whichever would yield the higher of the two benefits. The transition benefit formula never delivered the promised benefit protection, however, because it did not yield a higher benefit amount. Instead, the new benefit formula most often yielded the higher amount.