Civil And Criminal Justice Criminal Justice And Covid 19Social Security checks in 2020 are almost 20 percent lower than they otherwise would be, due to the long term impact of extremely low annual inflation adjustments, according to a new analysis from The Senior Citizens League. This analysis comes as the Social Security Administration announced today that the 2021 cost of - living adjustment COLA will be just 1.3 percent, making it one of the lowest ever paid..If signed into law, S. 1904 would strengthen Social Security benefits by enacting an across-the-board benefit increase, adopting the Consumer Price Index for Elderly Consumers, increasing the minimum Social Security benefit to 125 percent of the poverty line, and increasing the threshold on the taxation of Social Security benefits. It would also strengthen the solvency of the trust funds by applying the payroll tax to income over 0,000, increasing the payroll tax rate by 0.05 percent annually until it reaches 7.65 percent, and reallocating funds to the Disability Insurance trust fund..Take a Monthly Poll! … Continued
Thrive Massage For LaborPresident Obama set off a firestorm of controversy announcing an ambitious set of "executive actions" to protect illegal immigrants from deportation. The non-partisan Congressional Budget Office recently released a report confirming that many of those affected by the policy changes would be eligible for Social Security, Medicare and a wide array of federal benefits. Here are answers to frequently asked questions about executive action on immigration and how it affects Social Security and Medicare:.However, a modification to the bill is under consideration that would provide a portion of the income taxes collected on Social Security benefits to the Medicare Trust Fund in the same manner and amount as current law. That modification, however, would have a big impact on Social Security's cash flow in the earlier years. According to the Joint Committee on Taxation, the change would lower the total amount of revenues going into the Social Security Trust Fund by 1 billion over the 2020-2029 period, and would not prevent Social Security from becoming insolvent by 2036..Medical: Medicare recently reported the lowest growth in healthcare costs on record based on spending through 20But that's not the case for seniors. In fact, since 2000, Medicare Part B costs rose as fast as the cost of gasoline. Seniors will receive notification this month of their Medicare Part B premium for 201It's also important to check your Part D drug coverage. Medicare Part D's infamous drug coverage gap, aka the "doughnut hole," is slowly closing a widely touted benefit of the 2010 healthcare law. Several Part D costs, like the "standard" deductible, and the out-of-pocket costs thresholds, will be lower in 201But for the first time since Part D started, the initial coverage amount, the amount all seniors use when they fill a prescription, will be less generous by 0. That means you may hit the doughnut hole coverage gap sooner. … Continued
