cuts 0 billion from Medicare funding, and would cause the Medicare Trust Fund to go insolvent almost immediately,.Sixty-two percent of American households include at least one pet. Mine includes two –both a dog and an aging cat. New advances in veterinary medicines are making expensive treatments a reality, often putting owners into an emotional and fiscally painful bind. For example, I learned that my dog with paralysis in her hind quarters from a potentially fatal spinal disc rupture had the option of getting a ,000 surgery, followed by weeks of physical therapy in a swimming tank. My cat with hyperthyroidism is receiving oral medications costing up to 0 per year including blood tests. Even if your pet is perfectly healthy, vet bills for routine annual check-ups, tests, vaccines and treatments can run about 0 per year for dogs and 5 per year for cats..We are interested in hearing from our readers to learn what you think about the new Medicaid expansion. Are you benefiting from the new rules? Should there be tighter asset restrictions? Send us an email at [email protected] 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..According to Rep. Cartwright, Direct Care Workers currently provide 70-80 percent of the paid, hands-on care that those with chronic illnesses receive. However, they are not recognized as "essential contributors" to teams that provide care, and they do not receive the advanced training that is needed for them to realize their full potential. S. 2251 and H.R. 4445 would address this issue, and TSCL believes if signed into law, the bill would go a long way in ensuring that seniors receive coordinated, quality medical care..The index used to determine the COLA of retirees does not measure the spending patterns of retirees, but younger workers instead. Retirees, we all know, spend their money differently than younger people and must spend a far bigger share of their budgets on housing and medical costs - two categories of spending that often rise several times faster than overall inflation..In December of 2020, about 1.9 million people, or about 3% of all Social Security beneficiaries, were affected by WEP. This provision applies to workers who are entitled to both Social Security benefits as well as to pension benefits from employment not covered by Social Security. School teachers and firemen are two good examples. Before 1983, those whose primary employment wasn't covered by Social Security could still receive the full amount of any Social Security benefits they may have earned, assuming they had worked long enough to qualify. Today though, people affected by the WEP must have their benefits calculated using a different benefit formula. The WEP can reduce Social Security benefits by up to half the amount of the individual's pension from non-covered work..We are pleased and grateful that Rep. Grace Meng has once again introduced legislation, H.R. 3839, to remedy this situation. It would allow workers who reach age 65 after 1981 and before 1992 to choose either lump sum payments over four years totaling ,000 or an improved benefit computation formula under a new 10-year rule governing the transition to the changes in benefit computation rules enacted in the Social Security Amendments of 1977..When food and other important costs rise faster than the Social Security COLA, that means that retirees aren't able to purchase as much with their benefits. This can lead to older consumers going without essentials. Research by Johnson has found that Social Security benefits have lost 30% of buying power since 2000. "We encourage everyone to consider who you may know that might need help with food costs," Johnson says "Perhaps you can drop off a few groceries, or share your next batch of home - made soups, chili, or stews with others you know," Johnson adds. "Mercifully, this list of prices will likely change in time, especially as we get COVID-19 under control and people return to work," Johnson says.
