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Older Voters Rank Members U S House Medicare
What's Missing From Your 2015 Social Security Check? About 3 Says The Senior Citizens League .To help with your planning process, TSCL has pulled together a number of resources that can help. Visit TSCL's Retirement Resource Center. .For information about town hall meetings near you in the final days of the week-long recess, call the local offices of your elected officials. You can find contact information for your Members of Congress right here. … Continued
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Best Ways To Save October 2019
To learn more about proposals that would affect your Medicare and Social Security benefits, to get tips on reducing your Medicare costs, and to sign up for TSCL's free online newsletter, The Social Security & Medicare Advisor, visit TSCL at . .The Social Security Administration calculates benefit withholdings based on the amount you report that you will earn for the year, and then will withhold all benefit payments for a certain period of months to cover excess earnings. For example, say you received a Social Security benefit payment of 0 per month in 2007 (,800 for the year). Let's say that during 2007 you worked and earned ,450 or ,490 over the earnings limit (,450 - ,960). Social Security would withhold ,745 in benefit payments covering slightly more than 6 months of your payments. .This week, four new cosponsors signed on to the Social Security Fairness Act (H.R. 973), bringing the total up to 120. The new cosponsors are: Reps. Larry Bucshon (IN-8), Rosa DeLauro (CT-3), Lucille Roybal-Allard (CA-40), and Norma Torres (CA-35). … Continued
Jessie Gibbons – TSCL's senior policy analyst – told Karen Damato of Money, "We're concerned that the abrupt change will cause a lot of confusion and frustration among older Americans, many of whom don't have reliable access to text-enabled cellphones." In addition, Mary Johnson – a policy consultant for The Senior Citizens League – told Mary Beth Franklin of InvestmentNews, "Based on what we know at the moment, the alternative to checking online is either calling SSA's 1-800-772-1213 line, or trekking out to a local Social Security office where you take a number and wait in line." She also said, "The Senior Citizens League feels that online security is vital, but feels alternate options should be offered." .Few Employers Withholding Payroll Taxes .More than 42.4% of people 65 and older had incomes below 200% of poverty under the Supplemental Poverty Measure, compared to 30.4% under the official measure. .The hold harmless provision usually affects only a small number of beneficiaries in any given year, which has a relatively minimal impact on Part B financing. Since 2010, however, the hold harmless provision has been triggered on a nationwide basis an unprecedented four times. This occurred when inflation was so low that the COLA was zero in 2010, 2011 and 2016 and just 0.3 percent in 2017. .Grassley's proposal has long been seen as the most likely major drug pricing legislation to reach Trump's desk. However, conservative groups dislike the bill's cap on drug pricing increases and the legislation's main Democratic sponsor, Sen. Ron Wyden (D-Ore.), recently withdrew from negotiations on the package. .It pays to compare your options, but you need to do this soon, before the Medicare Open Enrollment period ends December 7th. For help shopping for a new drug or health plan locate Medicare benefit counselors in your area. Visit the State Health Insurance Program website — https://www.shiptacenter.org. ."Social Security was originally created to lift older Americans out of poverty," Johnson notes. "The annual COLA is intended to prevent erosion in the buying power of benefits," Johnson says. "Between the growth in healthcare costs and flat growth in benefits, the COLA is failing the very people it's intended to protect," she says. .This week, Members of Congress returned to their home states and districts for a week-long recess to celebrate the Thanksgiving holiday. They are expected to return to Capitol Hill on Monday, November 28th, to resume the lame-duck session. .The bad news: there's still plenty of age discrimination in the workplace. When workers over age 50 lose their jobs, it takes them much longer to find new jobs. And the impact of a layoff is bigger for older workers. These folks face the reality that they may not work again full time, which can wreck a retirement plan. Studies show that household wealth typically takes a hit as high as 23 percent for single people and 19 percent for married couples.
