Thrive Tips For Staying Sober In The New YearAlthough the new tax law almost doubles the standard deduction, and increases the deduction for taxpayers over the age of 65, The Senior Citizens League still encourages older taxpayers to compile and check medical and other deductible expenses before automatically taking the new standard deduction. The Senior Citizens League is working for passage of legislation that would lower or eliminate the taxation Social Security benefits, and strengthen Social Security for all..Refinancing a mortgage in retirement is a "special needs" situation. TSCL highly recommends that this should be discussed with an unbiased financial advisor..In April, the Medicare Trustees estimated that the standard monthly Medicare Part B premium, which covers doctors and outpatient services, would rise .70 - from 4.60 in 2020, to 3.30 in 202The April forecast, however, was made prior to the coronavirus, and did not factor in the impact of COVID-19 on expected medical costs or inflation. … Continued
Uninsured Slide Uninsured Rate Among The Nonelderly Population 1972 2018It's important for people planning retirement to learn the age in which you would "break even" for taking benefits earlier than age 70 - which is helpful in determining your optimal age to retire - and how much more you would get if you worked a few more years..Rep. Charles Gonzalez introduced H.R. 456 on January 26, 201It has since been referred to the House Committee on Ways and Means..In the days ahead, many Senators will be holding town hall meetings in their home states. TSCL encourages its members and supporters to attend these events and to ask important questions about the BCRA, like the following two… … Continued
