Since the passage of the Affordable Care Act in 2010, it was my understanding that the 3.8% tax on net investment income was intended to fund the Medicare Part A Trust Fund, in much the same way a portion of the taxes on Social Security benefits are earmarked for the Part A Trust Fund..What Caused The Social Security Notch?.Parent must receive at least one-half of his or her support from that individual..Low inflation is often blamed on the economic recession and slow recovery, but there are other factors. Unbeknownst to most of the public, the federal government has quietly made numerous changes to the methodology used for the nation's inflation measurement - the consumer price index. Politicians claim the changes make the CPI more accurate, but virtually all of the changes since the 1980's have lowered the measured rate of inflation and reduced the growth of Social Security benefits..About one quarter of all Medicare beneficiaries are covered by Medigap polices. Out-of-pocket costs under Medicare are considerable, and most beneficiaries supplement their coverage either by purchasing a Medigap policy or joining a Medicare Advantage plan. Unlike Medicare Advantage, however, Medigap enrollees in most states are not able to switch to another Medigap policy during fall open enrollment, because insurers are not required to cover pre-existing conditions outside of the individual's initial enrollment period. Seventy-two percent of survey participants support extending guaranteed coverage for pre-existing conditions to Medigap, allowing Medigap enrollees greater freedom to switch to other, less costly, Medigap plans..Even if your income or assets are slightly higher than the guidelines, you should still apply. That's because certain kinds of resources may not be counted. States figure your income and assets differently, so you may be eligible in your state. When determining eligibility, your countable assets include checking or savings accounts, stocks and bonds. Your home, and one car, will not be counted..Investing in an advanced aide role for DWCs will not only lead to less institutionalization and fewer re-hospitalizations, but will improve quality of life for seniors and reduce costs, reducing the overall burden on the health care industry. Seniors deserve to stay in their homes as they age, enjoy a high quality of life, all while receiving high quality, cost-effective care. The Advanced Aide Act will ensure that this is attainable..This week, one new cosponsor Rep. Timothy Bishop signed on to Rep. Peter DeFazio's Consumer Price Index for Elderly Consumers Act. The cosponsor total for the bill is now up to thirty..This is a tough decision, for which you need independent advice from someone other than the marketing agent of a MA plan. TSCL strongly recommends that you contact your area agency on aging or senior services department and ask for one-on-one counseling available through your State Health Insurance Assistance Program. The service is available at no charge.

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In addition to expenses such as out-of-pocket drug costs, and co-pays for visits to the doctor, here are a few of the most common overlooked medical deductions:.Again, those projections were made prior to the effects of the pandemic. You can be sure when this is all over, the projections will be much worse..Cook big batches of soups, stews and casseroles, and freeze extrMake big batches of soups, stews and casseroles, then freeze servings for one or two. All use less expensive cuts of meats, poultry, and fish. Many can be stretched and made all the more delicious with the addition of vegetables and cooked dry beans. Save the most by making your own stocks, rather than buying the heavily sodium-laden variety off the shelf. A simple stock or stew base requires only carrots, onion, and celery, perhaps some garlic, water, and a small amount of salt. Try growing your own parsley and thyme to add year round. Recycle yogurt, cottage cheese and other small plastic containers for freezer containers. Mark with contents and date. … Continued

Air Quality Alert Casts Pall Over Minnesota

A balanced budget amendment to the constitution, like the one that was considered this year, would prohibit the federal government from spending more than it collects in revenues each year. It's a budget gimmick that would essentially make it unconstitutional for Social Security and Medicare to use the trust fund reserves they currently have to pay out benefits, because it would prohibit "borrowing" even when new revenues are insufficient to pay out benefits. Additionally, the federal government would be prohibited from repaying the .7 trillion it currently owes to the Social Security trust funds..In real terms, if a household heating oil tank holds 400 gallons, a fill up in 2000 cost 0. That was slightly more than half the average monthly Social Security benefit of 6 in 2000. The householder still had 6 left to buy groceries and pay for prescriptions. In 2013, the same fill-up cost ,600 - almost 40 percent more than the average monthly benefit of ,14The householder had to take 3 from savings, a line of credit, or another income source to cover the balance of the fill-up..facility, or nursing home, long-term care is very expensive. Nursing home care … Continued

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