Here's an example of how it might work for you if you receive ,400 from your 401 and ,600 from your IRA. To figure your provisional income, take one - half of your Social Security = ,000. Let's say the taxable portion of your 401 is ,200, and of your IRA is the full ,600. That adds up to a provisional income of ,800 and a portion of your Social Security benefits would be taxable..TSCL has been pushing members of Congress to include legislation to reduce the price of drugs and pass legislation to deal with the practice of surprise medical billing. We were hoping those issues would be addressed at the same time as the legislation to extend the federal health programs mentioned above..You are age 62 or older;.At the Social Security Subcommittee's hearing, the focus was also on three specific proposals: cutting the Social Security cost-of-living adjustment by adopting the "chained" Consumer Price Index, raising the eligibility age, and increasing the cap on income subject to the payroll tax. Support for each proposal was mixed, and while experts on the panel spoke with a sense of urgency, no real consensus was evident among Members of the Subcommittee..If you're preparing for a long sea journey and about to set sail in stormy waters would you knowingly board a ship without adequate lifeboats or an emergency plan? Dumb question, I agree, but this is what the nation's retirees and Baby Boomers are getting ready to do,. The upcoming election will be one of the most important votes we ever make to determine the future of our Security and Medicare benefits. But voters are headed to the polls with frustratingly few details about candidates' plans..The Republican platform assures current beneficiaries and those nearing retirement that their benefits will remain untouched, and that all changes to the program will aim to preserve the solvency of the Social Security trust funds. It explicitly states that all plans to increase tax revenues like the increase in the payroll tax cap that the Democrats proposed will not be supported. It states, "As Republicans, we oppose tax increases and believe in the power of markets to create wealth and to help secure the future of our Social Security system.".Consider dental savings plans. These are buying club - like programs for which you pay an annual fee of to 0 to access a network of dentists who offer discounts of up to 50% for members. You can find a dental plan online at DentalPlans.com..TSCL recommends that anyone unsure of how the provision may affect you should talk with the human resources director of your former employer or union through which you receive benefits. To learn more about TSCL's legislative work read the weekly legislative updates; or to learn more about TSCL's key issues, please visit..In recent years a growing number of Medicare beneficiaries are entering hospitals for observation care rather than as inpatients. The number rose 69% in five years according to the most recent national statistics, but over the same period Medicare hospital admissions have declined.
