The Medicare Part B premium payment is automatically deducted from monthly Social Security benefits of most retired and disabled recipients. The hold-harmless provision is triggered when the dollar amount of a qualified individual's COLA is less than the dollar amount of the increase in their Medicare Part B premium. When this occurs, the individual's Medicare premium is adjusted in order to prevent a reduction in their net Social Security benefit from one year to the next..Other services provided by an out-of-network provider at an in-network facility, unless notice and consent criteria are met..Retirees frequently say that their annual cost-of-living adjustment does not adequately keep pace with rising costs. To learn if this is the case, this study, now in its eleventh year, looks at 40 expenditures that are typical for people age 65 and up, comparing the growth in the prices of those goods and services, to the growth in COLAs..and puts the coverage of low-income older adults who receive Medicaid in jeopardy, including the majority of the nation's nursing home patients.".Unlicensed loan offers through the mail, via telephone, or door-to-door. "Auto payments of per month! Interest rates as low as 2.4 APR! Keys to the door of your next car!" It's not unusual to find auto loan offers in your mailbox, but beware. Make sure any lender you work with is legitimate, and licensed..Example: In 2018 you are allowed to earn ,040 per year or ,420 per month without Social Security withholding any of your benefits. Let's say you earn more, ,900 per month. That would mean you would earn 0 more than the limit. Social Security would reduce your benefit by 0 per month, leaving you with just 0 per month. In addition, your earnings would also subject a portion of your Social Security benefits to taxation..TSCL agrees with Congressman Garamendi, and we hope to see his CPI-E Act signed into law before the end of the 115th Congress. For more information on H.R. 1251, visit the Bill Tracking section of our website. To read The Senior Citizens League's Loss of Buying Power study, click HERE..Lawmakers on both sides of the aisle agreed at Wednesday's hearing that displaying the full Social Security number on Medicare cards puts seniors at risk for identity theft. However, the process of removing the numbers is costly and complex. Tony Trenkle, Director for the CMS Office of Information Services stated, "It's going to be a massive undertaking if we go down this road." He explained that the process would require a technology system update and massive education efforts for beneficiaries, providers, and business associates..New IRS medical expense rules for people age 65 and over reduce the amount of medical expenses you can deduct for the 2017 tax year. In 2017, you or - you and your spouse - can deduct the amount of unreimbursed allowable medical expenses that is more than 10% of your adjusted gross income. Last year people over the age of 65 were allowed to deduct medical expenses that were over 7.5% of the AGI.
