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The letter you received from Social Security should indicate a deadline for your response. If you have missed the deadline, act quickly and contact Social Security requesting an extension. You may indeed learn there is an error and be able to correct the amount of money to be withheld. In addition, when you check your earnings record, you may need to contest earnings that don't belong to you..Tax Reform Work Continues in House and Senate.The car isn't washed.."To avoid overpaying for prescriptions, and to find the most affordable coverage, the importance of comparing drug plans during one's initial enrollment in Medicare, and during Medicare's annual Fall Open Enrollment period October 15th -December 7th can't be overstated," Johnson says. Most people 65 and over take more than one prescription drug, and to get the best plan, consumers need to compare plans based on all the drugs they actually take. In addition, consumers should compare prices between pharmacies, including mail order, which can also vary..This week, TSCL was pleased to lend its support to Rep. Scott Rigell's H.Res. 66The resolution expresses the sense of the House of Representatives that any changes made to Medicare should not affect those over the age of fifty-five. It also states that any Medicare reform package should provide a detailed plan to eliminate waste, fraud, and abuse within the program..What Happens If The Supreme Court Rules Against Obamacare?.The Notch continues because Congress has yet to enact legislation to correct it. Notch Reform has been a highly contentious issue. In 1994 the director of the GAO testified to the Commission on the Social Security Notch saying that the Social Security Trust Fund would not have built up adequate surplus "had notch legislation been enacted at an earlier date." Over those same ten years, however, from 1995 through 2004, the federal government used more than .4 trillion in surplus Social Security revenues that could have been used to pay Notch reform benefits to fund other government spending..I'm diabetic and get my blood testing supplies via mail order. When I called to order my next shipment I was told I would have to pay the full cost of supplies and my credit card was charged. I thought Medicare covered the cost..But when you work, there's a limit to how much you can earn and still keep your benefits. When you are under full retirement age, your Social Security benefit will be reduced for every you are over the earnings limit.

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The application was approved under Section 505 of the Federal Food, Drug and Cosmetic Act, which means that although it is a new drug application, its approval was based on research from another product..TSCL believes modestly higher retirement benefits are needed by a majority of people at or nearing retirement. A number of national studies indicate that millions of older Americans are entering retirement without the financial resources to cover retirements that may stretch 30 years or more. A 2015 report from the U.S. Government Accountability Office that says about one - half of households 55 and older have no retirement savings, and many of those that do run the risk of falling short of income..The subsidies are based on household income. If your income went down in 2014 you may be entitled to a bigger health insurance subsidy tax credit. But if your income goes up you would get a lower premium subsidy. … Continued

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Social Security Notch Reform Working towards benefit equality for older Americans..The costs don't stop at ,350. Unlike other types of health insurance, there is no out-of-pocket annual maximum for beneficiaries enrolled in Part D. After spending the ,350 in drug costs, Part D plan enrollees pay the greater of 5% co-insurance or copays of .60 for generics and .95 for brand or non-preferred brand drugs. For someone taking high cost specialty drugs, the 5% coinsurance could still be in the hundreds of dollars and, would continue for each refill until the end of the year..Without legislation to remedy this flaw in the benefit formula, the reduction to the Social Security retirement benefits of these 4 million people would be permanent. Assuming that benefits would be reduced by 9.1%, a calculation for TSCL indicates that a 62 - year old with middle-earnings who retired in 2020 would typically expect a benefit of ,565 at full retirement age, but now would only receive ,423 instead. Over the course of a 25-year retirement, or by the time these individuals reach 87, the total loss of retirement income from expected Social Security benefits would be more than ,000. … Continued

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