Newsroom Cambridge Medical Center S Expanded Mental Health And Addiction Services Receives State LicenseTSCL 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..The IRS is warning retirees to get an idea of how much income tax you may owe for 2018, and determine whether you need to make an estimated payment by January 15th, 201Recent changes to the tax law lowered individual rates and tax brackets slightly. The standard deduction almost doubled from ,350 to ,000, and single taxpayers older than 65 can deduct an additional ,600. On the other hand, personal exemptions have been eliminated. Tax advisors say that on average, most retirees will likely see a decrease in the taxes they owe, but individual circumstances vary greatly..The problem is that most retired individuals don't have 0,000 to set aside just for healthcare. According to the Employees Benefit Research Institute, the average person in their 60s who has contributed to a 401 for more than 30 years only has about 5,000 for all retirement expenses. But that's just counting the people who do have retirement accounts - and millions do not. According to the U.S. Government Accountability Office, 60% of all U.S. households have no retirement savings at all. … Continued
Advanced Heart Device Could Help More PeopleRoughly half of all older taxpaying households paid income taxes on a portion of their Social Security benefits this year, even though many of them had incomes as low as ,000 or ,000 for married couples filing jointly. Those modest incomes are just two times higher than the federal poverty level. Do you believe this tax on Social Security benefits is fair and, if not, what are you doing to fix it?.Now, as we draw close to the end of the year, the window for Congress to take major action to lower prescription drug prices is beginning to close. Concern is growing that the prospects of a substantial drug price reduction bill may get lost in the politics surrounding the 2020 election. Legislation that would allow Medicare to negotiate the cost of prescription drugs is in the House, and a bipartisan bill that would cap out-of-pocket Part D costs at ,100 a year is stalled in the Senate. The whole effort is fiercely being fought by the pharmaceutical industry, and the outcome remains unclear..Health insurers are pushing back, and are warning that the cost of new coverage could limit other benefits they offer in private Medicare Advantage plans - such as free transportation to medical appointments or free over-the-counter drugs. … Continued
