This year, Social Security beneficiaries are receiving a COLA of just 0.3 percent, and in 2016, they received no COLA at all. Since 2012, COLAs have averaged 1 percent less than half of the 3 percent average during the decade prior but most beneficiaries have seen no benefit increase at all in several years due to rising Medicare Part B premiums..If I start Social Security this year how much am I allowed to earn? I'll turn age 66 in November. I'm currently working in a job that pays ,000 per year plus health insurance..The period covered by the Notch is a major area of dispute. When benefits are represented on a chart, the disparity forms a deep "V" notch. Benefits plunged from a peak for retirees born in 1916 and hit the lowest part of the "V" for those who were born in the years 1920-2Benefits began to rise for those born in 1922 until they became level with other retirees, starting with those born in 192See illustration below..Most seniors are aware of the impact of the consumer price index on COLAs. But switching to the more slowly growing "chained" CPI, if applied government-wide, would be far more reaching than Social Security cuts alone. In every aspect where applied, seniors would receive less in benefits and pay more in higher taxes. The following chart illustrates:.Medicare Reform Protecting seniors from sudden and harsh changes to the program..Budget Compromise Released and Passed.2017 TSCL Senior Survey, "5th Annual Consumer Survey on Social Security," Nationwide Retirement Institute, April 201"25% of High Earners Have a Huge Misunderstanding About Social Security," Retire With Money newsletter, Elizabeth O'Brien, Time.com, Money, April 25, 2018..Maintenance and repair: This doesn't refer to occasional jobs like painting and replacing a roof, for which you may need to tap savings or a home equity line of credit. This category covers the far more common on-going repair headaches like leaky plumbing, failed furnaces, and drafty windows. Housekeeping and gardening services and equipment also come under this expense category. As seniors age, the need for services grows as health and living circumstances change. A common rule of thumb is to establish from 2% to 4% of the value of your home as your annual maintenance and repair budget. If 2% is too big of a stretch, forcing you to spend down your savings faster than you intended, you may want to think about downsizing your home as a new year's resolution, and look for newer, more modest housing in a less expensive area or even renting..Changes are looming for Medicare and Social Security. Make your opinion count. Visit TSCL online at and take our monthly poll!

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Medicare considers observation care as outpatient services, even though patients may stay in the hospital for several days. Outpatient care is covered under Medicare Part B not under Part A, which normally covers hospital care. Patients can have co-payments for doctor's fees, and every hospital service. That includes charges for any routine drugs your mother may take for chronic conditions like high cholesterol..A push in the House to give legal status to illegal immigrants is reviving some movement toward immigration legislation this year. But the effort is running into outspoken opposition, including that from TSCL's grass roots senior members and supporters. At issue is whether undocumented immigrants, who have used fraudulent Social Security numbers to get jobs, would be allowed to claim Social Security payments based on earnings under those numbers..For more tips like these to save on your Medicare costs and to maximize your Social Security benefits, sign up for The Senior Citizens League's Social Security & Medicare Advisor newsletter here or call for more information. … Continued

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TSCL believes that benefits should be increased, not cut. To do this while providing enough funding to keep the program solvent for another 50 years, 78 percent of TSCL's survey participants favor raising the taxable cap on earnings so that Social Security taxes would be collected on all earnings. Currently only earnings up to 8,500 are taxed for Social Security. "This means the nation's highest earning people, like the CEOs of some of the nation's biggest companies, are pocketing a huge tax break on all earnings over the cap," says Cates..Why is the coronavirus so different from previous flu outbreaks?."Implications Of Different Indexing Choices," Government Accountability Office, September 2006, GAO-06-804, pg. 5"GAO's Analysis of the Notch Issue," GAO, September 16, 1994, GAO/T-HEHS-94-236. … Continued

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