Prevent Quit Smoking Every Minute CountsAfter more than a decade of failed attempts to repeal and replace the sustainable growth rate the flawed formula that sets payment rates for doctors who treat Medicare patients Congress has finally succeeded in passing legislation to do away with it once and for all. In April, lawmakers in both the House and the Senate adopted a bipartisan bill that will permanently repeal the SGR, provide doctors with modest 0.5 percent payment updates over the next five years, and incentivize payment models that reward the coordination of medical care.."Why Home Health Care is Suddenly Harder To Come By For Medicare Patients," Judith Graham, Kaiser Health News, February 3, 2020..Based on projections by the Trustees, Medicare Part B premiums will likely increase by around .80 next year, so the typical beneficiary will pay 4.30 per month, up from 5.50 in 201The Senior Citizens League is currently predicting a 2020 Social Security cost-of-living adjustment of around 1.2 percent, based on Consumer Price Index data through March. If those estimates are correct, most Social Security beneficiaries will see very modest increases in their net Social Security benefits next year after Medicare Part B premiums are deducted. … Continued
You Are One Workout Away From A Good MoodIn December of 2020, about 1.9 million people, or about 3% of all Social Security beneficiaries, were affected by WEP. This provision applies to workers who are entitled to both Social Security benefits as well as to pension benefits from employment not covered by Social Security. School teachers and firemen are two good examples. Before 1983, those whose primary employment wasn't covered by Social Security could still receive the full amount of any Social Security benefits they may have earned, assuming they had worked long enough to qualify. Today though, people affected by the WEP must have their benefits calculated using a different benefit formula. The WEP can reduce Social Security benefits by up to half the amount of the individual's pension from non-covered work..If signed into law, S. 1904 would strengthen Social Security benefits by enacting an across-the-board benefit increase, adopting the Consumer Price Index for Elderly Consumers, increasing the minimum Social Security benefit to 125 percent of the poverty line, and increasing the threshold on the taxation of Social Security benefits. It would also strengthen the solvency of the trust funds by applying the payroll tax to income over 0,000, increasing the payroll tax rate by 0.05 percent annually until it reaches 7.65 percent, and reallocating funds to the Disability Insurance trust fund..I've been out of work since late March. The company that I was working for is in the process of declaring bankruptcy, and I haven't found a new job yet. I turn 64 in two months, but if I start Social Security now my retirement benefit would be pretty low. … Continued