News
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H R 1031 Social Security Protection And Truth In Budgeting Act
Benefit Bulletin: September 2021 Most Look Forward to Boost; Low-Income Retirees Worry Benefits Could be Trimmed .The absence of confirmed transmission is not necessarily evidence that fliers are safe. Instead, the lack of data reflects the fact that the U.S. has a higher infection rate relative to other countries, said Chen. Since the U.S. has so many confirmed cases, it's more difficult to determine exactly where somebody contracted the virus. .House Passes Prescription Drug Legislation … Continued
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October 2013 Senior Journal
How Would Higher Medicare Costs Affect My Retirement Budget? .Few Employers Withholding Payroll Taxes .The Inspector General found .1 billion in wages and self -employment income was reported in tax years 2006-2011 under the 67,000 numbers. The wage reports were placed in the Social Security Earnings Suspense File. The problem with placing these numbers into the Earnings Suspense File, however, allows for the earnings to potentially be claimed and used for determining benefits in the future. … Continued
On the unemployment payments to individuals, there are a lot of legal questions about the money the President wants to use to pay for this. He calls for billion of funding from the Department of Homeland Security's Disaster Relief Fund that is normally used for hurricanes, tornadoes, and massive fires to be shifted over to unemployment. .Other Legislation Also Targets Scams and Fraud Against Seniors .While the U.S. Treasury predicts the government will run out of cash as early as March 31st, illegal immigrant workers may have pocketed billions in 2009 and 2010 in advance Making Work Pay tax credits for which they are not eligible. The Making Work Pay tax credit specifically banned people without valid Social Security numbers from receiving the credit. But because the tax credit was paid in advance in higher paychecks through lower tax withholdings, millions of illegal workers undoubtedly would have received the money, even though they may not have filed a tax return. .Although immigration law forbids work without authorization, immigrants do find jobs and employers report their earnings to SSA. Currently there are no official published data on the amount of money paid into the Social Security system by aliens whether legal or illegal.(5) Social Security's Chief Actuary, Stephen C. Goss, however, has been quoted in the news media as saying that about three quarters of "other–than–legal" immigrants pay payroll taxes.(6) .Year after year, seniors are struggling with higher-priced groceries, copays, deductibles and prescription medications. To make matters worse, Republicans in Congress are passing bills that raise healthcare and housing costs for seniors. .COLAs are intended to protect the buying power of Social Security benefits against rising inflation. A new study recently released by TSCL found, however, that the CPI used to calculate COLAs today only does an anemic job of protecting benefits as it is. Since 2000, the COLA has increased just 31 percent, while typical seniors' expenses jumped 73 percent, more than twice as fast. .Medicare Advantage plans. Medicare Advantage plans are administered by private insurers and cover all your Medicare Part A hospital, Part B doctors benefits. Many include Part D prescription drug benefits as well. They may also include coverage for benefits that aren't covered by Medicare, like vision or hearing services, as part of the premium, or you may pay extra for the coverage. You can enroll during your initial Medicare enrollment period or during the fall Open Enrollment Period that runs from October 15 through December To learn more about Medicare Advantage plans in your area, check your 2014 copy of Medicare & You. Call Medicare toll free at 1-800- MEDICARE ( 7) or visit Medicare.gov. .The resolution would also allow committees to meet remotely using interactive technology and let members cast votes remotely during the legislative process. .New Legislation to Stop Looming Cuts to Medicare Urgently Needed