Age doesn't matter for contributions to some types of 401s. Regardless of age, you can continue to contribute to a traditional 401 as long as you own less than 5% of the business you are working for. You aren't required to take required minimum withdrawals..In September, federal agents announced the arrests of 35 people linked to a huge genetic testing scam. Individuals charged are accused of billing Medicare for more than .1 billion worth of phony genetic tests. The crackdown included telemedicine companies, doctors, and labs which worked in an elaborate scheme that preyed on people's fears of having genetic markers for cancer..TSCL is pleased that after more than a decade, lawmakers have finally passed legislation to repeal and replace the SGR once and for all. The SGR has not worked as it was intended to since 2003, and seventeen times it has called for steep physician pay cuts, threatening access to quality medical care for seniors. We are hopeful that the new system will bring increased stability to the Medicare program..Without action by Congress, the situation would also create inequities or a new "notch" in premium costs for new Medicare enrollees in 20New enrollees would be subject to paying the "unadjusted" Medicare premium while those who fall under "hold harmless" protection would continue to pay the adjusted .40 per month. An estimated 850,000 people would be affected in 2010 alone. Here's an example:.Increasing the payroll tax rate gradually by around 1 percent for both workers and employers. Doing so would amount to an additional 50 cents per week for the average American worker an amount that TSCL feels is reasonable..Because Medicare is such a crucial program, most members of Congress usually stumble over themselves to protect it. However, if the situation ever presents itself, they will use threats to Medicare to bash the other party..and would reduce the tax on Social Security benefits for older taxpayers with incomes below ,000, and 0,000..However, House Appropriations Chair Hal Rogers remains optimistic and is pushing members of the committee to move quickly. He set a November 20th deadline for each subcommittee to preconference their sections of the omnibus bill. Any work that is not finished by the subcommittees this week will be handled by the leaders of the full Appropriations Committee..Would it Be Advantageous for Me to Take a Divorced Spouse Benefit?

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Thanks to all of you who so willingly spent your time and shared your opinions. Surveys can influence votes! TSCL recently released the results of the 2013 survey to the media, and is sharing the findings of this key annual Senior Survey in meetings with Members of Congress. To participate in TSCL polls and surveys, visit..This week, in the days leading up to the five-week August recess, Members of the House focused on a series of tax extension bills and Members of the Senate debated cybersecurity legislation. Meanwhile, one House Subcommittee met to discuss the removal of Social Security numbers from Medicare cards, and The Senior Citizens League saw support grow for three key pieces of legislation..Help! My Mentally Disabled Brother Was Target Of A Predatory Auto Loan! … Continued

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But according to a report in Politco last week, "… the administration's Medicare team has put together a revised plan - which was circulated inside the administration on Tuesday, with instructions to expedite approval - to start sending letters to 39 million beneficiaries within the next week, touting the drug-discount cards. The cards would then arrive across December and January, according to four officials with knowledge of the plan.".First, one new cosponsor Representative Debbie Dingell signed on to the bipartisan Consumer Price Index for Elderly Consumers Act, bringing the total up to fifty-one. If adopted, the bill would base Social Security cost-of-living adjustments on the more fair and adequate CPI-E. Currently, COLAs are based on the Consumer Price Index for Urban Wage Earners, and they fail to keep pace with the inflation experienced by older Americans..To learn more about how Medicare covers hospital services, see your copy of the "Medicare & You" 2011 handbook that you received last fall, call or visit. … Continued

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