Medicaid Issue Brief Implications Of The Expiration Of Medicaid Long Term Care Spousal Impoverishment Rules For Community Integration View FootnotesWhen the Social Security Administration receives wage reports from employers with Social Security numbers and names that don't match those on file, the reports go into an Earnings Suspense File until they can be reconciled with the rightful owner. That can occur years later when an application for benefits is received. Over the past ten years for which data is available the Social Security Administration has received on average, more than 9.5 million suspicious wage reports annually representing more than billion per year in wages. It's wages, not the amount of taxes paid that are used to determine benefits..Eliminating the payroll tax is estimated to put more money into the pockets of working people. But at today's savings rates, that could leave even more Americans much worse prepared for retirement than they already are. "By far the biggest winners of this proposal would be the share - holders of the nation's largest employers," Johnson says. "Companies would pocket the 6.2 percent payroll tax they currently spend matching the 6.2 percent withheld from employees, making this one of the biggest corporate tax breaks in our nation's history." "This proposal is an insidious attack on the finances of all Social Security beneficiaries," Johnson says..Surprise! Congress Passes Legislation Banning Surprise Medical Bills … Continued
Blog One Elections Case Three LessonsThe effect tends to be tempered by the fact that the federal poverty level itself is adjusted for inflation every year, using the Consumer Price Index for Urban Consumers. In most years the CPI-U grows slightly faster than the index used to adjust Social Security benefits, the Consumer Price Index for Urban Wage Earners and Clerical Workers. Thus, it tends to keep pace with the COLA. But in 2020, the CPI-U grew more slowly than the COLA, growing just 1% instead of the CPI-W's 1.3%. Thus, SNAP benefits and many other types of benefits were reduced or even eliminated this year for some beneficiaries..Don't expect much growth in Social Security benefits next year. According to consumer price index data, Social Security and other adjusted benefit payments will probably stay pretty flat. With the Social Security Administration getting ready to announce the 2014 cost-of-living-adjustment on October 16th, the COLA looks like it will be in the vicinity of 1.7%. That would raise average monthly benefits of ,157 by just .70..At this point in time, it remains unclear whether congressional leaders will bring the "Budget for a Brighter American Future" to the floor for a vote, but the resolution does clearly outline the policy priorities of the majority party in the House. The Senior Citizens League will keep a close eye on the movement of the budget resolution in the weeks ahead, and we will continue to voice our opposition to policies that would jeopardize the health and financial security of older Americans. For progress updates, follow TSCL on Twitter or visit the Legislative News section of our website. … Continued