An intense battle over Social Security is brewing and TSCL is gearing up for major Congressional action. Recently retired Federal Reserve Chairman Alan Greenspan waded back into the fray to tell Congress "Our choices right now are not between good and better; they're between bad and worse. The problem we now face is the most extraordinary financial crisis that I have ever seen or read about. Irrespective of what you say should be done on the tax side, you still have to cut some benefits on the expenditure side." The statement is chilling considering Greenspan oversaw the largest single overhaul of the program in history, chairing the National Commission on Social Security Reform in the early 1980's..Two Ways and Means Subcommittees held hearings on reforming Medicare and Social Security this week. On Tuesday, the Health Subcommittee heard from a panel of experts on Medicare reform, and on Thursday, the Social Security Subcommittee met to discuss potential changes to the program..One important option to select is inflation protection. The cost of.Medicare costs often consume up to half of your Social Security benefit. In a recent TSCL survey, 48% of respondents said they spent 11% to 33% of their Social Security benefits on healthcare in 201Another 25% said they spent from 34% to 50% of their Social Security on healthcare..Unlicensed loan offers through the mail, via telephone, or door-to-door. "Auto payments of per month! Interest rates as low as 2.4 APR! Keys to the door of your next car!" It's not unusual to find auto loan offers in your mailbox, but beware. Make sure any lender you work with is legitimate, and licensed..There are special rules that allow you to delay sign up for Medicare Part B when you receive healthcare benefits through work. You need to satisfy these three requirements:.Gradually, over 10 years, eliminate the cap on earnings that are taxed for Social Security. This would mean that the approximately 6% of workers who earn more than the 8,500 cap in 2015 would pay into Social Security throughout the year like other workers. In return they would get slightly higher benefits..Pharmaceutical manufacturers hiked the list price of a record 832 drugs last month - nearly 200 more than January 2020 and the highest since at least 201All but 10 were branded drugs and 175 of those were specialty drugs, according to the report..Starting distributions from your retirement savings ahead of age 70 ½

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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..That's correct, you can work while receiving a Social Security retirement, or survivors' benefit. The Social Security Administration even says it could eventually mean a higher benefit for you, but it could also mean that your Social Security benefits may be reduced - at least temporarily - when you earn more than the annual limit. In addition, your earnings may subject a portion of your Social Security benefits to taxation..This week, lawmakers in the Senate held several failed votes on bills that would have repealed and replaced parts of the Affordable Care Act. In addition, two key bills that would improve Social Security benefits gained support in the House. … Continued

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By Senator Elizabeth Warren.Check My or your last "Medicare Summary Notice" to see if you've met your deductibles. Deductibles are the amount you must pay before the service is covered, and vary widely depending on the type of coverage you have in addition to Medicare Part A and Part B..When an individual files a claim for benefits, the Social Security Administration searches its records for every wage report connected with that individual to determine entitlement. The search even includes earnings from jobs worked prior to legal authorization, under fake, invalid or stolen Social Security numbers if the applicant kept evidence of such earnings like pay stubs or W2s. … Continued

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