News
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How Has The Recession Affected Funding For Your Social Security And Medicare Benefits
Social Security benefits are determined by the income earned (up to the taxable maximum) over a working career, and the number of years worked. The more money you make and pay taxes on, and the more years you work the larger your monthly Social Security benefit will be. The Social Security Administration calculates your benefits based on the 35 years in which you earned the most money. But many women, especially those who become mothers or caregivers, give up a substantial portion of their earnings to care for a family. .In 1996 Congress passed legislation barring felony fugitives from receiving SSI benefits. A new computer program should end such payments while helping law enforcement officers to track down fugitives. Computers match law enforcement records against the data files of beneficiaries of SSI and other Social Security programs. When a match is found, SSI benefits can be terminated, and investigators can provide law enforcement officials with the fugitive`s most recent address where he or she has been receiving checks. .For updates on the progress of S. Con. Res. 3, visit the Legislative News section of our website, or follow TSCL on Facebook and Twitter. To view TSCL's full legislative agenda for the 115th Congress, click HERE. … Continued
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Notch Bulletin February 2011 Feed
To stay updated on TSCL's legislative efforts and their progress in Congress, visit the Legislative News section of our website. You can also find us on Facebook or Twitter for more frequent legislative updates. .Shoring up the Medicare Part A Trust Fund will be more difficult. Simply cutting payments to hospitals would not be in the best interests of patients or hospitals, because many medical centers are already faltering financially. .A second of the measures the President signed on Saturday aims to provide 0 in weekly unemployment aid for millions of Americans. Trump said 25 percent of this money would be paid by states, many of which are already dealing with major budget shortfalls. The federal contribution would be redirected from disaster relief money at the Federal Emergency Management Agency. Those funds are not likely to last more than two months, and the President did not say when the benefits would kick in. … Continued
The Senate bill also would change Medicare Part D by adding an out-of-pocket maximum for beneficiaries of ,100 starting in 202No such out-of-pocket cost cap currently exists. According to our 2019 Senior Survey, about one-in-five survey participants report out-of-pocket spending this high for prescription drugs. Advisor editor Mary Johnson estimates that this legislation would protect almost 14 million Medicare beneficiaries from out-of-pocket drug costs exceeding ,100 in the first year of enactment if signed into law. .Sources: Making Work Pay Credit Was Implemented As Intended, But Resulted in Many Taxpayers Owing Taxes With Returns," Treasury Inspector General For Tax Administration, November 1, 2010, Ref. No. 2011-41-002. .Ticket to ride. If you still drive, consider issuing "Tickets to Ride" to friends or family members who don't drive any more. Type or hand letter tickets on colorful construction paper. Offer rides to doctor visits, stores, or even to visit out-of-town friends and relatives. If you are handy with the computer and want fancier artwork, do an online search for "free ticket artwork." You can find a number of free images that you can copy for your own use. .If you would like to continue receiving these press releases via email, please send your email address to [email protected]. .The study examined the increase in costs of 32 key items between 2000 and January 201The items were chosen because they are typical of the costs seniors must bear. Of the 32 costs analyzed, 20 exceeded the total percentage of increase in the COLA over the same period. .Recreation (televisions, toys, pets and pet products, sports equipment, admissions); .Budget Moves Through Committee .The DOJ in late March arrested a man in Southern California who allegedly orchestrated an investment scheme involving a bogus injectable cure for Covid-1A week later, the DOJ filed charges against a man whose treatment allegedly involved a combination of Vitamin C, bee pollen, hydrogen peroxide, and prayer. .The result of that analysis is precisely why we've opposed the President's order. To make matters worse, there is no plan on how to replace the money the Social Security and Medicare systems will lose if the temporary tax deferral becomes permanent.