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  • Ask The Advisor October 2011 Advisor

    Set up a healthcare worksheet with your basic expenses. That can include Medicare premiums for Part B (deducted from your Social Security), Medicare supplement premiums and Part D premiums OR Medicare Advantage premiums. You also need to include deductibles, out-of-pocket co-pays or co-insurance. In addition, include the costs for premiums or out-of-pocket costs for services that Medicare does not cover, including dental, vision and audio. Include the cost of glasses and hearing aids and batteries if you use them. .Women who earn less are particularly disadvantaged because females tend to live longer compared to men but have to live on less in benefits. The Social Security Administration website tells us that the typical woman receives ,218 each month while the typical man receives ,534 per month — meaning that, on average, men receive 25% more in Social Security benefits. This means that women have much less money to cover their expenses over a longer period. ."This year is particularly difficult to forecast with certainty," Johnson says. "The inflation patterns, caused in large part due to the COVID-19 pandemic, were unprecedented in my experience," she says. … Continued

  • Social Security Announces 1 3 Cola For 2021 One Of Lowest Ever Paid

    Nations all over the world are experiencing unprecedented disruptions to the drug supply chain, and that affects the U.S. drug supply. You may be interested in this article which explains the problem:https://www.cnbc.com/2020/03/24/us-drug-shortage-fears-grow-as-india-locks-down-due-to-the-coronavirus.html. .Start Now! .TSCL Delivers Petitions to Senate Leaders … Continued

Newly Eligible People with Medicare .The Senior Citizens League regularly tracks and estimates the projected annual COLA increase with the release of monthly consumer price index data from the Bureau of Labor Statistics. "Inflation data through August are confirming that the COLA will be in the vicinity of 0.2%, forecast by the Social Security Trustees, and that would trigger the "hold harmless" provision," Gibbons says. .Federal records and senior advocates indicate that many observation patients who call Medicare about the billing problem are told there is nothing that Medicare can do to help. Hospitals are not required to tell patients they are under observation. Patients only learn they were receiving observation services when the bill arrives. By then it's too late because hospitals and doctors are prohibited from reclassifying observation patients as inpatients once they've been discharged. .This week, action on Capitol Hill slowed down as both Houses of Congress adjourned for a district work period. However, The Senior Citizens League (TSCL) did see support grow for one key piece of legislation. .At Thursday's hearing, Social Security Subcommittee Chairman Sam Johnson (TX-3) and Ranking Member John Larson (CT-3) both spoke about how their Social Security reform bills would improve the program's financing. Chairman Johnson's bill – the Social Security Reform Act – would do so primarily through benefit cuts, while Ranking Member Larson's bill – the Social Security 2100 Act – would do so primarily through revenue increases. Mr. Goss confirmed that both bills – using two very different approaches – would return the program to 75-year solvency if adopted. .Chairman Larson also mentioned the Know Your Social Security Act and heralded it as a great bill. But it hasn't been reintroduced. Also, he did not mention his own bill, the Social Security 2100 Act, which he introduced in the previous Congress but has not done so in this Congress. .This week, House and Senate lawmakers remained in their home states and districts for a week-long spring break. They are expected to return to Capitol Hill on Monday, March 25th. Until then, many Members of Congress will be hosting town hall meetings and attending events in their home states and districts. .At the time of writing this week's update, the House had not yet voted on the measure, but its passage is expected in that chamber by Friday. The committees of jurisdiction will then begin working on legislation to repeal the health care law. Through the budget reconciliation process, the Affordable Care Act is expected to be repealed by as early as February, and lawmakers hope to have a replacement plan signed into law soon after. .The CARES Act provides employers with incentives to retain workers on the payroll through a tax credit. In addition, employers are allowed to defer the employer portion of payroll taxes for 2020, with the taxes due in two equal installments by December 31, 2021, and December 31, 2022.