TSCL is concerned that an immigration amnesty would create new liabilities for Social Security, Medicare and Medicaid, that would be based on illegal work. Under current law, the Social Security benefits of immigrants who worked illegally, and who later gain work authorization, are calculated at least in part, on earnings from jobs worked under fraudulent numbers prior to gaining legal status..Disabled survivors benefits for a spouse and/or divorced spouse based on the deceased account..Here are some other deductions you might be able to itemize:.Because it means new legislation to reduce the costs of prescription drugs is not likely to be passed this year and will have to await the start of the next Congress in January of 202In addition, as we've explained in the last couple of updates, the executive announcements the President issued regarding prescription drugs are not clear about what drugs they cover and even if things get clarified it is highly unlikely seniors will see a reduction in drug prices this year. And, of course, the major drug companies are strongly opposed to orders and are fighting to change them..Fastest Growing Costs of Older Households Since Beginning of 2021.How much will the New Year's 1.5% cost-of-living adjustment increase your Social Security benefits? How much did your household budget increase over the past 12 months? Your response is important because the only thing standing between seniors and COLA cuts right now is public pressure on Congress and the White House. Major budget negotiations are underway as the nation faces another government shut-down on January 15th, hitting the debt limit again the first week in February. Members of Congress need to hear how their actions would impact real people like you..You can contribute to more than one IRA. It's possible to have a traditional IRA, one or more 401s and a Roth IRA or Roth 40You can contribute to as many as you want but the total you may contribute is limited to a maximum amount that is adjusted annually and the type of account..This week, action on Capitol Hill slowed down as the House of Representatives adjourned for a holiday recess, and the Senate focused on legislation to reauthorize programs within the FDA. Meanwhile, TSCL expressed support for a new House resolution, introduced by Rep. Scott Rigell.."New Analysis by The Senior Citizens League Shows 1990s Changes to Social Security Calculations Hurt Today's Seniors"

State Legislatures Magazine Table Of Contents State Legislatures Magazine November December 2018

Accelerate retirement account distributions when you have excess deductions. If your standard deduction will exceed your taxable income this year, consider withdrawing a little more retirement funds if you will need them this year. Doing so when you have a low or even a zero tax rate will potentially help you avoid paying more in the future when your deductions are lower or taxes rates are higher..If the Supreme Court rules against the federal government, that could have a devastating impact on the new program. The case centers on whether people who enrolled through the federal exchange can legally receive subsidies to lower their monthly premiums..This week, House and Senate lawmakers remained in their home states and districts for a two-week spring break. They are expected to return to Capitol Hill on Monday, April 29th. Until then, many Members of Congress will be hosting town hall meetings and attending events in their home states and districts. … Continued

Unity Hospital Celebrates 50 Years

A new Medicare Advantage plan is available in my area and the premiums are extremely low. It would save me a lot of money this year, so I'm thinking about dropping my Medigap and Part D plan to enroll in the new Medicare Advantage Plan during the fall Open Enrollment period. Can you explain the pros and cons of doing this?.Someone tries to tell you there's a fee for the new Medicare card. There is no fee for the card. Never give out your credit card or bank account number to anyone..I had the opportunity to interview Florida retiree Joe S., who told me how he is impacted, living in one of the most hurricane prone areas in the U.S. - Brevard County, Florida. In September, after hanging 20 hurricane shutters on his home, Joe and his wife evacuated for three days and rode out hurricane Dorian 110 miles inland. Gas, hotel, food costs totaled 0.00. Unexpected expenses like these are hard to plan for. … Continued

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