The answer depends upon whether you start your benefits before or after your full retirement age - which in 2017 is 6When you start Social Security benefits before your full retirement age, you will be subject to the Social Security earnings test. The earnings test can cause Social Security to withhold your benefits if you earn more than the annual exempted amount. In addition, your initial retirement benefit will be permanently reduced, because you started Social Security prior to your full retirement age. It pays to wait until 6Here's why:.The Senior Citizens League enthusiastically supports the CARES Act and the Medicare Drug Price Negotiation Act, and we were pleased to see support grow for them this week. For more information about these and other bills that have been backed by The Senior Citizens League, visit the Bill Tracking section of our website..After a rare bipartisan agreement, President Obama signed a bill into law that will extend the payroll tax break and unemployment benefits, and prevent a 27% pay cut to Medicare physicians. The President signed the measure into law in private on Wednesday, after celebrating the passage of the bill at an event on Tuesday..TSCL has been pushing members of Congress to include legislation to reduce the price of drugs and pass legislation to deal with the practice of surprise medical billing. We were hoping those issues would be addressed at the same time as the legislation to extend the federal health programs mentioned above..That subject is the coronavirus flu. We wrote a little about it last week, but we still have questions and concerns and we think you probably do, also. Let's start by pointing out the following: even the world's top infectious-disease specialists still aren't sure how lethal a threat the coronavirus presents..If you are under full retirement age for all of 2009, the Social Security Administration will withhold in benefits for every in earnings over ,160 for the year or ,180 per month. People who turn full retirement age in 2009 may earn more. The Social Security Administration will deduct in benefits for every over ,680 for the year or ,140 per month. The amount that you are allowed to earn is adjusted annually. Once you reach full retirement age, you may receive your benefits with no limit on the amount you can earn..The rapid growth in Medicare Part B costs is consuming an increasing share of beneficiaries' income. What proposals do you support to slow the growth in the out-of-pocket costs?.Trustees Release Annual Social Security and Medicare Reports.Said TSCL Chairman Ralph McCutchen, "We've gotten much accomplished this trip and received plenty of good news as far as getting more support for our concerns. We were able to show the Members of Congress we met with that living proof of the Notch does exist and reform is needed sooner rather than later."
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The fraudsters enlist unscrupulous doctors to approve the test and the doctor receives a kick back from the recruiting company for each prescription. Medicare receives a bill that can range from ,000 to ,000. Victims have later reported that they did not even know the doctor who prescribed the test. Law officials warn that health fairs, senior centers and even church events are magnets for the scam, where recruiters take cheek swabs for genetic testing and collect Medicare numbers..A ,000 per month budget for medical expenses is a staggering amount to consider. Retirees with the highest costs are not only those with multiple health conditions, but also frequently those who don't have access to employer provided health insurance benefits. This group also includes those who don't have access to competitively priced Medicare Advantage Plans, and therefore pay higher premium costs for Medigap and Part D plans..Here is a portion of that report: … Continued
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Last week, most seemed doubtful that Members of Congress would successfully reach an agreement before the looming deadline due to demands from some lawmakers to attach hundreds of controversial policy riders to the package. However, this week, many are reporting that appropriators have narrowed down the list of policy riders to a more manageable number, and leaders in Congress seem surprisingly optimistic about the prospects of the massive omnibus..While you probably won't find any single professional who can provide you with all the answers you may need for your mom, most areas of the country have access to an Agency on Aging that can help put you in touch with a number of valuable resources and people who can answer your questions. Most agencies serve specific geographic areas of several neighboring counties, although some operate statewide in less populated states. All Area Agencies on Aging receive federal funding that is supplemented with additional state and local funding..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. … Continued