Congress passed legislation to end the practice at the end of the year, but as with so much other legislation Congress passes, it gave an outline of new policy but it left a great deal up to the President to work out the specifics..Although the new tax law almost doubles the standard deduction, and increases the deduction for taxpayers over the age of 65, The Senior Citizens League still encourages older taxpayers to compile and check medical and other deductible expenses before automatically taking the new standard deduction. The Senior Citizens League is working for passage of legislation that would lower or eliminate the taxation Social Security benefits, and strengthen Social Security for all..You can use the Social Security Administration's earnings test calculator to see how earnings could affect your benefit payments..Get routine physicals and screenings done prior to the start of.Firstly, the Senior Security Act will create a Senior Investor Taskforce at the SEC that will exclusively focus on how seniors are being targeted by fraudsters and those who seek to take financial advantage of them. This new Taskforce will identify challenges that senior investors encounter and will identify areas within the SEC or other organizations where senior investors would benefit from changes. The Senior Investor Taskforce will also coordinate with other offices within the Commission and the Elder Justice Coordinating Council. When appropriate, the Taskforce will consult state securities and law enforcement and state insurance regulators to ensure we're all doing as much as we can, at every level of government, to stop this..Stay Informed and Sign up for the TSCL Newsletter.Rather than making deliberate well-reasoned choices, our brains often latch onto the first piece of information offered when making a decision, even though we may not be aware we are doing so - a process cognitive scientists have named "anchoring." You already know how it works. We've all seen a sign like this: "SAVE! 4 cans of soup for $Limit 12 cans per customer!" How many cans would you buy?.Medicare Part D prescription drug coverage hit a new milestone this year. The highly - loathed "doughnut hole" or "coverage gap" closed this year. But that doesn't mean prescriptions will be free. The co-insurance in the former Part D doughnut hole dropped to 25% of all drug costs. That's the good news. But the out of pocket spending that's required to qualify for catastrophic drug coverage took a big jump, from ,100 in 2019, to ,350 an increase of ,250. That's the biggest jump in the out-of-pocket threshold since the start of Part D in 2006..Rep. Elijah Cummings introduced H.R. 3513 on September 10, 201It has since been referred to the Committee on Energy and Commerce and to the Committee on Ways and Means.
