Bill Introduced to Raise SSI Asset Limit, Make Other Reforms

In 1989, the price of a movie ticket was $4 and a gallon of gas cost a dollar, on average.  That same year, Congress raised the amount of money that recipients of Supplemental Security Income (SSI) could retain without losing their eligibility to $2,000. While the...

Medicare Premiums to Increase By Almost $10 a Month in 2020

After small or no increases the past couple of years, Medicare’s Part B premium will rise in 2020. The basic monthly premium will increase $9.10, from $135.50 a month to $144.60. The Centers for Medicare and Medicaid Services (CMS) announced the premium increase on...

IRS Issues Long-Term Care Premium Deductibility Limits for 2020

The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2020 income as a result of buying long-term care insurance. Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to...