Edward Cates, Chairman of the Board, TSCL Q: How Could the COLA Affect Medicare Costs? A: Rising Social Security income due to the COLAs will provide some greatly needed relief from rising prices. But the increased i ...
FAQ: Taxation of Social Security Benefits
By Mary Johnson, editor Q: How Will Inflation Affect Your Taxes? A: With inflation at historic levels, it’s helpful to know about two important inflation- related factors of our tax code that affect what older (and dis ...
FAQ: Medicare Part B Costs
Q: How Will Part B Premium Costs Change In 2023? A: Most healthcare costs are expected to continue to climb from 2022 - 2023, but there is some good news. The Medicare Part B premium is going down in 2023. Medicare P ...
FAQ: COLA
Q: Will Your COLA Be Enough To Keep Up With Rising Prices? A: Social Security beneficiaries will receive an 8.7% cost-of-living adjustment (COLA) in January, the highest that almost every beneficiary alive today has eve ...
Ask the Advisor: November 2022
Will I Have A Tax Bill Next April? Q: My wife and I did not pay any tax for 2021. Our only income was $30,900 in Social Security and a $10,000 certificate of deposit which was earning next to zero interest. In 2022 ...
Best Ways to Save: November 2022
5 Common Complaints About Medicare Advantage Plans And What Can Be Done About Them Medicare Advantage plans are a popular choice for 48% of all Medicare beneficiaries — many of whom select their plan out of the need ...
Legislative Update: November 2022
Changes That Older Americans Support To Strengthen Social Security Benefits By Daisy Brown, Legislative Liaison No matter what their party leaning, older voters share some clear legislative priorities for Congress. ...
Benefit Bulletin: November 2022
Will The Social Security Benefits of One in Five Older Adults Become Taxable For First Time In 2022? By Edward Cates, Chairman of the Board, TSCL About one-out-of-five Social Security recipients whose incomes are s ...
21% Of Medicare Beneficiaries Have Applied For Extra Help With Medicare Prescription Drug Plan Costs— Here’s How That Could Change.
Mary Johnson, Editor About one in five Medicare beneficiaries (21%) who participated in TSCL’s Senior Priority Plan Survey conducted from May - July, report that they filed an application for Medicare Extra Help over ...
How Will Prescription Drug Provisions of the Inflation Reduction Act Affect Your Drug Costs in 2023?
Medicare will start negotiating drug prices starting in 2023, as implementation of drug provisions in the newly enacted Inflation Reduction Act (IRA) gets underway, but savings will come gradually over several years. ...