New IRS medical expense rules for people age 65 and over reduce the amount of medical expenses you can deduct for the 2017 tax year. In 2017, you or - you and your spouse - can deduct the amount of unreimbursed allowable medical expenses that is more than 10% of your adjusted gross income. Last year people over the age of 65 were allowed to deduct medical expenses that were over 7.5% of the AGI..The Senior Citizens League supports legislation that would require a minimum COLA of no less than 3 percent, even in years when inflation falls below that amount. "Strengthening the COLA," Johnson says, "would help slow the drain of drain of retirement savings and help keep older Americans out of poverty." To learn more, visit..Research Medicare Advantage health plans that offer some dental benefits. Medicare's fall Open Enrollment period starts October 15th and runs through December If you are already enrolled in a Medicare Advantage plan it's a good idea to compare plans in your area every year anyway, and switch if you can find better coverage at a lower cost. You need to do the math on the deductibles, co-pays or co-insurance for the comprehensive benefits offered, including hospital, doctors, outpatient services, and prescription drugs that you already take before switching. Pay close attention to the fine print on additional benefits. Those dental benefits may only be in the form of discounts with network providers. TSCL strongly recommends AGAINST dropping a Medigap supplement to enroll in a Medicare Advantage plan solely based on additional benefits like dental coverage. Those additional benefits can end suddenly, especially when plans cut costs to compensate for lower government reimbursements, so don't bet your Medigap coverage on them..You may well find that the best way to come out ahead is to pay out-of-pocket and brush your teeth regularly at least twice a day, for a full 2 minutes. If you don't already have a regular dentist, call around to find the most reasonable fees and to see if the dental practice is willing to provide "senior" discounts. If you have good oral health and few health or dental problems, ask the dentist if you can stretch your exams out to every 9 months instead of twice a year, and space out X-rays..Will income thresholds that subject Social Security benefits to taxation be adjusted so that fewer beneficiaries will be subject to taxes on their Social Security in the future?.Would a Higher Cost-of-Living-Adjustment in Social Security Make Me Ineligible for Medicaid?.Immigrants use fake or stolen Social Security numbers to work in the U.S., and the SSA receives more than 9 million W2s every year in which the name and Social Security number don't match those in the Administration's records. Those W2s are saved to a special Earnings Suspense File until the SSA reconciles them with the rightful owner at a later date, which can occur years later when a claim is filed..TSCL continues to meet with Members of Congress this year asking them to support provisions that would bar payment of Social Security benefits based on illegal work. Stay up-to-date, sign up for TSCL's e-alerts and e-newsletters..Most Look Forward to Boost; Low-Income Retirees Worry Benefits Could be Trimmed
