Supreme Court Decision Could Have Big Consequences For Social Security And Medicare
Unlike other government penalties, such as a tax penalty, the extra 0 per month is permanent, and is payable for the rest of the time he has Medicare. To avoid further penalties, we strongly urge your daughter to get her father-in-law enrolled in Medicare Part B as quickly as possible. If her father-in-law only receives Social Security and has limited savings, he may qualify for a Medicare Savings Program that would pay the cost of the Part B premium. .With only six weeks to go before the December 13th deadline, it remains to be seen which path the budget conference will take. Leaders of the conference announced on Wednesday that the next public meeting will be held on November 13th, but most of the work will likely occur behind closed doors in the coming weeks. Regardless, TSCL will continue to monitor the evolving budget negotiations, and we will post updates here in the Legislative News section of our website. .Traveling Is Still a Danger … Continued
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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. .Medicare Reform – Protect beneficiaries from changes that would impose greater out-of-pocket costs on beneficiaries. .We are still learning how vaccines will affect the spread of COVID-1After you've been fully vaccinated against COVID-19, you should keep taking precautions in public places like wearing a mask, staying 6 feet apart from others, and avoiding crowds and poorly ventilated spaces until we know more. … Continued
Earlier this year, a Congressional report referred to the AARP as a "massive for-profit enterprise" whose financial structure "conflicts with its legal requirements to ‘primarily operate to promote the common good and social welfare of a community of people.'" .Seventy-eight percent of older voters participating in TSCL's survey say they support raising payroll taxes, eliminating the taxable maximum wage cap so that everyone pays Social Security taxes on all earnings over 8,500. Unlike low - and middle - income wage earners, the highest earners today only pay taxes on the first 8,500 in earnings and enjoy a huge Social Security tax break on all on wages over that amount. A clear majority — 62% of survey participants — also favors very gradually increasing the payroll tax rate by 1% each for workers and employers. Taken together, both changes would provide enough financing to keep the program solvent for more than 50 years. .The age. Q & 038; January 2021 Can I Work and Receive Social Security Benefits at the Same Time? .The responsibility is on you to notify the SSA of your age, and file an application for retirement benefits based on your own earnings, if higher. As you continue working past age 66, the retirement benefit you receive based on your own earnings continues to grow. That retirement credit is only applied until age 70; however, there's no additional increase thereafter, so put in your claim now. .In addition, U.S. Customs may be trying to clamp down on prescription drugs being shipped to American consumers from Canadian pharmacies. Although "reimportation" of prescription drugs from abroad continues to be illegal, Customs and Food and Drug Administration (FDA) officials have only intermittently seized shipments of Canadian drugs in the past. Canadian mail order pharmacies and drug-buying programs run by senior advocates reported earlier this year that the number of seizures has more than quadrupled recently. .Some issues of controversy inevitably arose at Thursday's hearing, but common ground was also found on the important issue of corporate tax reform. The Joint Committee, which must hold a vote on its final proposal before Thanksgiving, will likely hold a third public hearing in the coming weeks. TSCL will continue to monitor its progress. .We can no longer kick the can down the road." .Social Security's Disability Insurance program is littered with waste. Last year, for example, .8 billion in overpayments were made to those collecting disability benefits. In addition, the administration has allowed an enormous backlog to accumulate for Continuing Disability Reviews, which are conducted to determine whether a beneficiary has recovered enough to return to work. Currently, every dollar spent reviewing cases yields more than ten dollars in savings; if the backlog were eliminated, more than billion in savings would be returned to the Trust Fund. The potential savings from eliminating waste within Social Security are enormous and could cover the cost of the Notch Fairness Act. Second, Congress could increase the amount of income subject to the Social Security payroll tax – an option that sixty-seven percent of TSCL members strongly supported in this year's Senior Survey. Currently, yearly income earned above 0,100 is not subject to the payroll tax. .The Senior Citizens League is disappointed that another Obamacare promise has been broken, and we are hopeful that the impact on seniors will be minimal. While UnitedHealth is the first Medicare Advantage insurance provider to announce doctor cuts, we do not expect them to be the last. For tips on checking your plan's provider networks or for other Medicare Advantage information, see "Out – Of – Pocket Costs Catch You By Surprise? How To Avoid "Sticker Shock"