After weeks of debate by the House-Senate Conference Committee, President Obama signed the payroll tax holiday and temporary "doc fix" into law this week. Other action on Capitol Hill remained slow this week, as both Houses of Congress have adjourned for the Presidents Day Recess..This year, Medicare Part B premiums are completely offsetting COLAs for many. TSCL recently delivered letters to Congress sharing concerns from supporters around the country who saw no increase in their net benefit in 2018 despite the fact that they are receiving the largest COLA in five years. For example, one supporter of The Senior Citizens League Roland R. of Rockwall, TX was quoted in the letter, saying: "My wife and I were frustrated to see that our Medicare premium increases for Part B and Part D would be greater than the 2% COLA … Medicare is managing to reduce our 'take home' benefits for the third straight year.".Here's how it works: Because you are under your full retirement age in 2021, you are subject to Social Security's earnings restriction rules. The Social Security Administration will deduct from your benefits for every you earn above the annual exempted amount, which is ,960 in 2021..The Social Security Disability Insurance trust fund is projected to become depleted next year, in 201What do you feel should be done to restore this program's solvency?.This week, lawmakers remained in their home states and districts to finish the two-week spring recess.."Many older taxpayers probably did not even know they were getting a medical expense tax break for 2017, or this year," Johnson says. The 7.5 percent of AGI threshold was unchanged from what taxpayers age 65 and older paid in 2016, and before. That threshold, however, was formerly scheduled to rise to 10% of AGI in 201"Meanwhile taxpayers younger than 65 could only deduct medical expenses in excess of 10% under the former tax law, and so for that crowd it may have been noticed as a tax break," Johnson notes..When all else fails - appeal. If you disagree with a coverage or payment decision by Medicare or your health plan, you can appeal. Learn how here..Inflation data through April suggests that the annual cost-of-living adjustment for 2020 could be very low, perhaps 1.2%. Even though Social Security recipients received the highest COLA since 2012 this year - 2.8% - COLAs have averaged a meager 1.4% over the past decade. That's an unprecedented low rate of growth in Social Security benefits for an unprecedented period of time. From 1999 to 2009, COLAs averaged more than twice that rate of increase, at 3% per year..Once the Social Security reform trigger has been pulled, the House budget resolution stipulates that the Trustees would have until September 30th of the same calendar year to submit recommendations for the changes necessary to achieve a positive 75-year balance to the President. The resolution would then require the President to submit legislation to Congress within 60 days of receiving the Trustees' recommendations. President Trump promised repeatedly on the campaign trail not to touch Social Security.

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In touting the Executive Actions, President Obama said that the actions would require undocumented immigrants eligible for relief to start paying "their fair share of taxes" in exchange for permission to work in the U.S. But TSCL believes that the Administration is overestimating what the government would receive in new tax revenues, because many illegal immigrants already pay into the system..How will the program make people eligible for Social Security and Medicare? Don't they have to become citizens?.Top 10 Fastest Growing Costs of Older Americans Since 2000 … Continued

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Included is the issue of surprise billing, in which patients are charged out-of-network prices for services they thought were in-network. This issue has gained great urgency because so many people are ending up with bills for thousands of dollars even though they have health insurance which they thought would cover the expenses for which they are being billed..Finally, the platform closes by saying, "Saving Social Security is more than a challenge. It is our moral obligation to those who trusted in the government's word.".When you are ready to compare coverage and costs, get a copy of the most recent materials from your current health plan to have on hand. In addition to your current premium and deductible, you will need to know what your current coinsurance or copayments are, and your annual maximum out-of-pocket in order to calculate the "actuarial value" of your plan. To learn whether you qualify and how much credit you will get, contact your state's Health … Continued

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