Medicare Slide Sources Of Supplemental Coverage Among Medicare Beneficiaries 2009and puts the coverage of low-income older adults who receive Medicaid in jeopardy, including the majority of the nation's nursing home patients.".Yet even a "limited approach" like this one could create huge new long-term costs for Social Security and Medicare. Citizenship is not a requirement to claim Social Security benefits. Work authorization, like the type under discussion in the House, is all that immigrants would need to at some point file claims..In fact, according to research by The Senior Citizens League, homeowner's insurance has grown 199 percent since 2000, making it one of the fastest growing costs that retirees face, second only to prescription drug costs. Joe reports that his homeowners and car insurance have increased every renewal period over the past two years. His homeowner's premiums rose from ,284 a year to ,566, an increase of 22 percent. Joe's auto insurance premiums increased 0 over the last four renewal periods, which are every six months, despite no tickets or accidents. Government subsidized FEMA flood insurance this year increased 7.4%. … Continued
Courage Kenny Ski A Thon Kicks OffBenefits are based on lifetime earnings. To be qualified for retirement benefits, workers need about 10 years of earnings. The earnings are indexed to account for changes in average wages since the year the earnings were received. Then SSA calculates the average indexed monthly earnings using the 35 years of highest earnings. A formula is applied to this amount to arrive at the basic benefit..In a letter that was sent to the twenty-nine conferees on Monday, members of the House Appropriations Committee wrote: "We call on the Budget conference to reach an agreement on the FY2014 and FY2015 spending caps as soon as possible to allow the appropriations process to move forward … If a timely agreement is not reached, the likely alternatives could have extremely damaging repercussions." According to the appropriators, the alternatives include: a government shutdown on January 15th, continued governance by continuing resolution, and a second round of across-the-board spending cuts via the "sequester," which is scheduled to hit in January..The Notch Fairness Act, H.R. 615, introduced by Representative Ralph Hall, would allow Notch Babies their choice of a higher monthly benefit or a lump-sum of ,000 payable in four annual installments. The legislation would allow eligible survivors of Notch Babies, persons who receive Social Security benefits based on the account of a Notch Baby, to receive up to 100% of the benefit payable to the deceased. … Continued