In 1977 Congress changed the formula for computing Social Security benefit amounts - a change that led to seniors who were born 1917 through 1926.What Is The ‘Notch'? The term “Notch” refers to the disparity in Social Security benefits paid to people born from 1917 through 1926 and those paid to people born before and after them with similar work/earnings records. Many of those born during the Notch period feel they have not been treated fairly and are not receiving the benefits that.Frequently Asked Questions About TSCL The Social Security Notch Issue What is TSCL?.Before 2020 came to an end, a new forecast from the Congressional Budget Office confirmed that Medicare's Part A Hospital Insurance trust fund is running out of money two years earlier than previously expected. The CBO's forecast indicates that there will be insufficient funds to cover all Part A benefits beginning in 2024 - less than 3 years from now..Applying the payroll tax to all wages over 0,000. Currently, payroll taxes are not paid on income over 8,500, which means millionaires and billionaires pay a much smaller tax rate than everyone else..According to The Social Security Trustees, the Disability Insurance Trust Fund is expected to become fully insolvent by the end of next year. Without Congressional action, Social Security trustees estimate there won't be enough tax revenues to pay full scheduled disability program benefits at the end of 201More than 10 million disabled beneficiaries and their dependents face cuts of about 19% in their monthly payments if nothing is done..Search for health and drug coverage based on the drugs you actually take: Plans vary tremendously on the price of prescription drugs, and you can spend hundreds of dollars more per year than you need to. Do your search for health or stand-alone drug plans by inputting all the drugs you take to get your best choice of plans for you at the lowest cost. Make a list of each drug that you take, dosage, and the amount you take in a month or 90 days if by mail order. Spelling and dosage details are important to get most accurate results. The Medicare plan finder will pull up a list of plans showing the lowest costing plan first. It's important to check the reasons why the plan costs less, including whether the plan covers ALL your prescription drugs. When checking plan cost details, check the difference in prescription prices between standard retail pharmacies and mail order..Should I Drop Medigap For Medicare Advantage?.Gradually Raising the Payroll Tax Cap: The payroll tax cap has not kept pace with changing income patterns over the past few decades, so it makes sense to adjust the maximum taxable wages to realign them with the originally intended level. Gradually raising the cap to cover 90 percent of the nation's taxable earnings by 2050 would allow it to once again represent the same percentage of that figure that it did as recently as the early 1980s..Mr. Shiman said at Wednesday's hearing: "There is a special bond between grandparents and their grandchildren. The scammers knew this well and took full advantage of it with my wife and myself. They knew that when a grandchild is in trouble, grandparents go all out to help.".Wednesday's report also revealed a new projection for next year's Social Security cost-of-living adjustment. According to the Consumer Price Index for Urban Wage Earners, consumer prices have been lower this year than they were last year, which means there will likely be no COLA come January. Automatic COLAs were adopted forty years ago and so far, beneficiaries have gone without annual increases only twice in 2010 and 2011.
