Here's an example of how it might work for you if you receive ,400 from your 401 and ,600 from your IRA. To figure your provisional income, take one - half of your Social Security = ,000. Let's say the taxable portion of your 401 is ,200, and of your IRA is the full ,600. That adds up to a provisional income of ,800 and a portion of your Social Security benefits would be taxable..And it could be worse if inflation is lower and Medicare Part B premiums are higher. Due to a special provision of law known as the Social Security hold harmless provision, when the dollar amount of the Medicare Part B premium increase is greater than the dollar amount of an individual's COLA, the Medicare Part B premium is adjusted to prevent a reduction in Social Security benefits from December of the previous year. Those affected by hold harmless wind up with no growth in their net Social Security benefit after the deduction for Part B premiums. That leaves nothing extra left over to deal with other rising costs such as housing and drug costs..This year, for the first time in decades, "expanding" Social Security became the platform of a major political party - the Democrats - while both presidential candidates, Clinton and Trump, expressed opposition to any benefit cuts. And lending credibility to the claims, legislation is pending in both the Senate and the House that would provide a boost to Social Security benefits and use a "seniors" CPI, the Consumer Price Index for the Elderly, to determine the annual cost-of-living adjustment. The legislation would finance doing this by lifting the payroll taxable maximum - which is currently capped in 2016 at the first 8,500 in earnings..By Representative Charlie Crist.Without a doubt the public is often justifiably confused about the convoluted workings of federal benefit programs. But the one thing we are all aware of is the amount of money we pay into Social Security, which includes taxes for both retirement AND disability insurance benefits. Social Security disability benefits are earned - same as retirement benefits. Of the 12.4% payroll tax paid by workers and employers, the retirement trust fund gets 10.6% and the disability insurance trust fund gets 1.8% of the revenues collected..This week, TSCL announced its support for the Seniors and Veterans Emergency Benefits Act, which was introduced by Congressman Alan Grayson as a companion bill to Senator Elizabeth Warren's S. 2251..Congress Should Work Together to Strengthen Social Security.Federal revenues are now expected to be .5 trillion less over the next decade. But, Uncle Sam still owes about .9 trillion in "interest" and the money needed to redeem the I.O.U.s held by the Social Security Trust Fund. Paying the interest and redeeming the bonds will necessitate greater borrowing, new revenues - or, benefits would have to be cut..With medical costs and prescription drug prices rising higher than ever before, seniors living on fixed incomes are struggling to keep up and can no longer afford to be short-changed by the Social Security COLA. At Wednesday's press conference, Congressman Garamendi said: "Today - March 1st - we declare that something can be done."

Ncsl In Dc Publications And Resources Reading Room

For more information about town hall meetings near you during the holiday recess, call the local offices of your Members of Congress. For contact information, click HERE.."When family caregivers don't get the support they need, and few get enough, they are faced with leaving their jobs, taking on significant debt, or moving their loved ones out of their homes and into costly assisted living facilities," Cates notes. TSCL believes this growing problem must be addressed to enable older and disabled Americans to live with dignity in their homes and communities. TSCL encourages the public to contact Members of Congress and ask elected lawmakers to support the Credit For Caring Act. To learn, more visit..Because her stay was as an outpatient, not an inpatient, she also would not qualify for Medicare coverage of follow-up nursing home care, even though her doctor told her she needed it. To be eligible for nursing home care, beneficiaries must have spent at least three nights in the hospital admitted as an inpatient. … Continued

Polling Private Insurance

Last week, most seemed doubtful that Members of Congress would successfully reach an agreement before the looming deadline due to demands from some lawmakers to attach hundreds of controversial policy riders to the package. However, this week, many are reporting that appropriators have narrowed down the list of policy riders to a more manageable number, and leaders in Congress seem surprisingly optimistic about the prospects of the massive omnibus..Intergenerational programs.The coronavirus emergency spending bill that Congress just passed was not "paid for," in Washington's language. It was added to the deficit, which means the government will borrow the money to pay for it. … Continued

Contact Atavista Farm Today!