The following reflects the views of the writer and are not necessarily those of The Senior Citizens League..Can You Still Fund A Retirement Account Once You Retire?.It's important for people planning retirement to learn the age in which you would "break even" for taking benefits earlier than age 70 - which is helpful in determining your optimal age to retire - and how much more you would get if you worked a few more years..The Social Security Act requires the President to submit to Congress the text of totalization agreements and a report that includes the estimated number of individuals who would be affected and the estimated financial impact of the agreement on Social Security. Nevertheless the documents released to TSCL in December of 2006 supplied only an incomplete five-year cost estimate..Are Cuts The Only Way to Reduce the Deficit?.I've been out of work since late March. The company that I was working for is in the process of declaring bankruptcy, and I haven't found a new job yet. I turn 64 in two months, but if I start Social Security now my retirement benefit would be pretty low..Surprise! Congress Passes Legislation Banning Surprise Medical Bills.Once an individual becomes entitled to Social Security, other dependents can make claims on their account if all other qualifications are met, even if they never paid into the system. Here's a list:.Medicare Part D discounts in the "doughnut hole." Once both drug plan enrollees and their plan have spent the initial coverage amount, they reach the Part D coverage gap or "doughnut hole." Prior to the Affordable Care Act, seniors paid 100% of drug costs in the doughnut hole, unless they were covered by a plan that provided some gap coverage. Under provisions of the Affordable Care Act, once seniors hit the coverage gap, they get a 50% discount on covered brand name drugs and pay 86% of the plan's costs for covered generic drugs until they spend a total of ,700 for the year. Some plans offer additional coverage for generics during the gap.

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"Beneficiaries were increasingly able to use technology to bridge the care gap. Fifty-eight percent said their provider offers both phone and video appointments..For example, if the price of gasoline soars do people spend more on gas for their autos, or make fewer trips? Because Social Security recipients are living on fixed income, they don't always have the leeway to spend more, meaning larger numbers of seniors might drive less. Younger consumers on a budget and people who are out of work, may be in the same boat. And if a lot of consumers are in the same fix, and wind up driving less, this measure is likely to show that inflation didn't increase much, even though the price of gas at the pump is stratospheric. That would mean your COLA wouldn't grow either, even though cost inflation may be soaring..yourself. If you fall in between, consider looking into the coverage. They … Continued

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Avoid Falling for this Scam:.But the promise of Medicare is in jeopardy today because some in Washington have misguided priorities. A proposal put forth by Congressman Paul Ryan that I was proud to vote against earlier this year, would end the Medicare guarantee by turning the traditional program into a handout for private insurance companies..The coronavirus caused approximately 375,000 deaths and was the third leading cause of death in 2020, after heart disease and cancer. Covid-19 deaths in the U.S. now top 550,000 since the start of the pandemic. … Continued

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