… engineer a government shutdown to cut spending. As House Budget Committee chairman, Tom Price, the new secretary of health and human services , supported converting Medicaid to strictly capped block grants to the states and turning Medicare into a …
Category: Social Security
With Social Security, time and patience are worth it
… And trust me, when you’re really old, you need money, lots of it — for hearing aids, dentures, special glasses, home health aides, none of which is covered by Medicare. So we can’t play the averages when it comes to insuring against life span risk …
COLUMN-Why living longer should not lead to retirement benefit cuts
… should be cut because of America’s rising longevity. The argument is not only specious, but hazardous to your health. That much is clear from a new report analyzing the impact of raising the Medicare eligibility age from 65 to 67, a favorite idea of …
83% of Older Voters Want Medicare to Negotiate Drug Prices, Says…
… as Obamacare, instead threatens more than 43 million Medicare beneficiaries with sharply spiking drug costs. The 2010 health law includes benefits for Medicare Part D that cover prescription drugs, filling a costly coverage gap commonly referred to …
Memo to Texasa members of Congress: Dona t you dare mess with our Medicare
… it. That includes the approximately 30 percent of Medicare beneficiaries in Texas who have two or three chronic health conditions and rely on care they can afford. Many with limited resources could end up in health plans that limit their choice of …
Liz Weston: How to put more in working-class pockets
The American working class lost a shocking amount of wealth in recent decades as wages stagnated. Despite campaign promises, making up that lost ground will be no easy feat.
Newsflash, America: Your Social Security Benefits Are Already Being Cut
Social Security is, for many Americans, a financial lifeline that keeps them safely above the poverty line during retirement and allows them to pay their bills during their golden years. According to the Center on Budget and Policy Priorities, if Social Security didn’t exist, an estimated 40.5% of seniors would be living in poverty.
Could you retire in 5 years?
If you plan to retire five years from now, then you need to have your finances in order. Review this checklist to see whether your retirement plan is on track.
Take these steps if you haven’t gotten your W-2
You’re ready to file your taxes – except for one thing: You’re still awaiting an IRS Form W-2 from an employer. Each January, companies issue W-2s to inform workers, and Uncle Sam, of the amount of money the worker made during the previous year and how much in income, Social Security and Medicare taxes was withheld.
Bipartisan Hill group wants to talk taxes, infrastructure with Trump
A bipartisan group of members of Congress wants to meet with President Donald Trump to discuss tax reform and infrastructure investment. Reps.
Excellent advice for the path forward
You may have missed the insert in the newspaper Feb. 5 and thrown it out with the ads. I almost tossed it myself, but fortunately took a second look at “Crossroads for America: Challenges and opportunities in renewing our republic.”
N.J.’s newest congressman to host Obamacare forum Monday
… Gottheimer said he would support improving the law, but that repealing it without a replacement in place could worsen health care premium costs and decrease coverage, among other complications.
N.J.’s newest congressman to host Obamacare forum Monday
… Gottheimer said he would support improving the law, but that repealing it without a replacement in place could worsen health care premium costs and decrease coverage, among other complications.
Retirees might need to file taxes in certain situations
DEAR SAVVY SENIOR: What are the IRS income tax filing requirements for retirees this tax season? My income dropped way down when I retired last year in 2016, so I’m wondering if I need to even file a tax return this year. DEAR NEW: There are several factors that affect whether you need to file a federal income tax return this year, including how much you earned last year , the source of that income, as well as your age and filing status.
AARP lays down marker on Medicare
Throughout his presidential campaign, Donald Trump repeatedly vowed to protect Medicare because so many older Americans depend on the federal program to help cover their health-care costs. One of the most influential senior lobbying groups wants to remind Trump of his promise.
You can make a difference
If you want to see our country rolled back to 1950, stay home, do nothing and complain. But if you want to make sure our country makes progress, speak up, fight, sign petitions, donate or call Congress.
What Donald Trump’s presidency means for your retirement
… worried about their future and the possibility that changes in Social Security, insufficient savings, and escalating health care costs could tarnish their golden years. Ultimately, the key to withstanding any White House administration is by staying …
The False Debate about the Future of the Democratic Party: Time to End Either/Or Politics
When a political party loses a big election , and finds itself out of power at every level of government, a debate needs to be had about the future of that party. The Democratic party is having such a debate, but when the frame of the debate is as twisted up as it currently is, we aren’t going to make much headway in terms of finding the best answers.
Public loses with Ryan’s plans
… for those with other sources of earnings, i.e. IRA income. No increases in revenue, only cuts in benefits. Ryan and Health and Human Services Secretary Tom Price intend to do away with traditional Medicare and replace it with a voucher program. …
Will moderates end GOP love affair with deficits?
… bulge straining Social Security, Medicare, Medicaid – particularly long-term care – and the nation’s overall health care system. Then, Republicans ditched predictable old deficit-reduction policies for the sexy appeal of tax cuts and deficits: the …
Bad behavior all around
… repeal or block masses of regulations, and then defeated Democratic amendments to keep those that protect children’s health from air pollution and lead in water, safety of miners, nuclear power plant safety, insurance coverage for persons with …
Sanders to Trump: Tell GOP you’ll veto entitlement cuts
… hours before the Senate is expected to take a final vote on Rep. Tom Price’s nomination to lead the Department of Health and Human Services, which will give him wide sway over the future of the programs. Sanders, reading a series of statements from …
Haven’t Gotten Your W-2? Take These Steps
You’re ready to file your taxes – except for one thing: You’re still awaiting an IRS Form W-2 from an employer. Each January, companies issue W-2s to inform workers, and Uncle Sam, of the amount of money the worker made during the previous year and how much in income, Social Security and Medicare taxes was withheld.
The Five Most Affordable Retirement Havens of 2017?InternationalLiving.com
The majority of recent studies on retirement show that most Americans are not adequately prepared for it: They haven’t saved enough, they’ll likely outlive their nest egg, and so they are instructed to work longer, spend less, and lower their expectations for their retirement lifestyle. With the future of Social Security and Medicare uncertain under the new administration in Washington, Baby Boomers have reason to be worried about what their ?golden years” might look like.
Former TAPS subcontractors report missing Social Security earnings
… was laid off when the TAPS Access program was terminated in November 2015 following the loss of a contract with the Health and Human Services Commission. Ward said she is still owed about three weeks of pay nearly 15 months later. Grayson County …
Here’s how Republican leaders are lying to you about claims they…
… majority alone is not only dishonest, but is also a means of justifying inaction on a law that is literally breaking health insurers and average Americans, financially speaking. Obamacare must go. The Republicans (and Trump) promised. They don’t …
Most Changes Affecting Seniors Require Public Debate
… rules so that care and services can be delivered. At this time, according to a Harvard T. H. Chan School of Public Health study only 28% of Trump supporters want to change Medicare. That number drops to 15% in the overall population. Medicare Part D …
Facts About Social Security, Medicare in the Age of Trump May Surprise You
While the era of “alternative facts” dawned in Washington, experts from across the ideological spectrum gathered in the capital for a review of real facts about our two most important retirement programs: Social Security and Medicare. The annual policy research conference of the National Academy of Social Insurance focused on the group’s new report to the Donald Trump administration and Congress on the future of all our social insurance programs – those that cover retirement, but also those that protect the disabled, jobless, impoverished poverty and frail.
Would You Accept a 1.33% Increase to Your Taxes to Save Social Security?
For senior citizens, Social Security ranks at or near the top of their primary ongoing concerns. The reason is that around 60% of the more than 41.2 million retired workers receiving Social Security benefits as of December 2016 relies on Social Security for at least half of their monthly income.
Scam attempts on seniors
Beware of any official looking mailer that is purporting to be from Medicare or Social Security..IT DOESN’T! it’s a prepaid pink postcard to SD Reply Center. PO Box 2528, Rockwall TX 75087-9891. If you receive one of these, throw it away! It’s an attempt ton steal your identity!
The Latest: Trump budget pick clears 2 committees
The Senate budget and homeland security committees approved South Carolina GOP Congressman Mick Mulvaney for a vote by the full Senate. The move came over the opposition of Democrats who warn of his support for cutting rising costs of Medicare and increasing the age for claiming Social Security benefits.
Ready for Medicare? Not Until You Read This
… ed, consider this: According to a 2014 study from the Insured Retirement Institute, “A 65-year-old male in excellent health can expect to live to age 87, while the same male in poor health (e.g. high blood pressure, high cholesterol, and tobacco use)
Nebraska senators sound off on new committee assignments
However, the change has left the Senate Agriculture Committee without a Nebraskan for the first time in nearly half a century. Both Senators say their new assignments are positive for the state they represent.
Nonpartisan Report Offers Menu of Options to Policymakers for…
In an ambitious new report , the National Academy of Social Insurance provides detailed, evidence-based analyses on a range of policy options for modernizing the nation’s social insurance system. The Report to the New Leadership and the American People on Social Insurance and Inequality takes stock of policy challenges facing the social insurance infrastructure, then discusses potential new directions that policymakers might take to strengthen the programs.
Savvy Senior: Tax help for caregiver of elderly parents
… may still get a tax break for helping pay her medical costs. The IRS lets taxpayers deduct money spent on a parent’s health care and qualified long-term care services, even if the parent doesn’t qualify as a dependent. To claim this deduction, you …
Kenneth Petersen, Financial Planning: Did you know?
Have you ever learned that something you have heard, read or been taught turned out not to be true? Here are three multiple choice questions. Let’s see if what you think the answer should be turns out not to be the case.
Many Disabled Taxpayers Qualify for Earned Income Tax Credit
Many taxpayers with disabilities and parents of children with disabilities may be eligible for the Earned Income Tax Credit . The EITC is a federal income tax credit for workers who don’t earn a high income and meet other eligibility requirements .
The CBO doesn’t deal in ‘alternative’ facts
President Trump during a reception with congressional leaders on Monday at the White House. Federal deficits are expected to rise for the first time in nearly a decade, driving up the federal debt to almost unprecedented levels, according to an analysis from the nonpartisan Congressional Budget Office .
What to consider with ’55-plus’ living
… deal.” a Finances: Sure, a fancy fitness center and a golf course are nice – but is the community in good financial health? You should review the financial records of the homeowners’ association and the minutes of monthly meetings. How big is the …
Trump budget pick: Cut benefit programs; tax hikes on table
Budget Director-designate Rep. Mick Mulvaney, R-S.C. testifies on Capitol Hill in Washington, Tuesday, Jan. 24, 2017, at his confirmation hearing before the Senate Budget Committee. Budget Director-designate Rep. Mick Mulvaney, R-S.C. testifies on Capitol Hill in Washington, Tuesday, Jan. 24, 2017, at his confirmation hearing before the Senate Budget Committee.