In 2014, your ,200 in earnings was slightly higher than the amount you are allowed to earn without reduction, which was ,480. Under the Social Security earnings test, if you are under your full retirement age the Social Security Administration will withhold in benefits for every in earnings in excess of the annual exempt amount. In your case ,200 is ,720 more than ,480 - the exempt amount. That means Social Security should only withhold ,360, not ,000..Then on Monday there was a report that Congressional negotiators were closing in on a government spending bill agreement after keeping the funding for Veterans Affairs Mission Act under the .4 trillion budget cap, a significant victory for the House Republicans who insisted on this provision, according to two congressional aides..A widely-discussed plan to reduce the federal deficit would use a slower-growing consumer price index, known as the "chained" CPI, to calculate the annual cost-of-living adjustment. The proposal, often referred to as "chaining" the COLA, would not be the first time the government has tweaked the inflation index to cut government spending on benefit programs.Seniors know how important Medicare is to their well-being, both health-wise and financially. But many doctors have long complained that Medicare does not pay them enough. And until the coronavirus came along, cuts in the reimbursement rates paid to doctors were scheduled to take place..can backfire, leaving you with bigger health problems and bills down the road..For progress updates on H.R. 1902 or H.R. 1776, visit the Bill Tracking section of TSCL's website. To contact your Members of Congress to request their support for the bills, click HERE..On Tuesday, the House Ways and Means Social Security Subcommittee held a hearing on the Windfall Elimination Provision and the Government Pension Offset, two provisions that arbitrarily reduce the earned Social Security benefits of millions of public employees. They were enacted in 1983 in an attempt to bring fairness to the system for those who receive government pensions and earn Social Security benefits, but they have not worked as intended..Start by reviewing materials that you receive from your current health plan for prospective changes in premiums, deductibles, co-pays and provider networks. If your income has changed in 2014, report changes to the healthcare exchange in your state or through before the Open Enrollment crunch begins. Watch your local news media for announcements of "healthcare navigator" programs in your area to help you compare plans and enroll. The programs may be offered through your local library, or other community service organizations..The recent battle in Congress over lifting the debt limit contained mostly good news and some not so good news, for disabled and retired Americans. The legislation rolled back an unprecedented 52% spike in Medicare Part B premiums due to affect about 15.6 million Medicare recipients, and it prevented a 19% cut in Social Security Disability Insurance benefits due to occur later this year. But the legislation contained no Cost-of-Living Adjustment relief for 2016, and closed off one of the few claiming strategies that some Americans have to boost their Social Security payouts.
