Minnesota Reports Four New Measles Cases As Hospitals Issue PrecautionsIf she delays until age 70, she'll receive ,226 more because of the Social Security delayed retirement credit. Her starting benefit will be ,980, she will receive 0,891 over her retirement, and her final monthly benefit would be ,417..Unfortunately, the two other changes that took effect last month will not affect seniors as positively. Young retirees will be hit with an increase in the threshold for the itemized deductions of medical expenses. Those under the age of sixty-five will not be able to deduct unreimbursed medical expenses unless they account for at least 10 percent of adjusted gross income. Those over the age of sixty-five may continue using the 7.5 percent threshold until 2017; however, all seniors should beware that this tax provision may be modified or even eliminated as lawmakers continue to search for ways to reduce the deficit..According to the Congressional Research Service, older noncitizens who were assigned a Social Security number before January 1, 2004, are not required to have ever received authorization to work in the United States at any point to qualify for Social Security benefits. In other words, those individuals may have worked illegally their entire career and may still file a claim for Social Security, and all their illegal earnings will be counted. … Continued
Late In Life Care Fragmentation And Complexity For The Chronically IllEarlier this month, House lawmakers voted on a balanced budget amendment to the constitution that would have been disastrous for Social Security and Medicare beneficiaries if adopted. Did you support this drastic measure, and if so, why?.Those people include Barbara B. - a retired home healthcare aide who lives in the Indianapolis area. "We're due for the increase," she says. But rising Part B premiums will likely take her entire COLA, leaving her with no increase at all in her net operating Social Security benefit again in 2018..Today millions of older women are depending on insufficient Social Security benefits to get them through a retirement that can stretch up to 30 years. Low benefits mean people have to spend more of their retirement savings at a faster pace than anticipated. … Continued