According to the Social Security Administration, 40% of people who receive Social Security must pay federal income taxes on their benefits. Single taxpayers who receive Social Security plus other income will have to file a tax return if their combined income is more than $25,000. According to Turbotax, "If the ONLY income you receive is your Social Security…
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As Baby Boomers look toward retirement, many are setting their sights on Europe, drawn by its rich tapestry of culture, history, and the promise of a vibrant lifestyle. From the allure of leisurely café afternoons to the practical benefits of healthcare systems, here’s why an increasing number of American Boomers are calling Europe their new home. #1. Affordable Healthcare Image…
Inflation accelerated in March for the third straight month, keeping prices painfully high for millions of Americans and likely delaying any interest rate cuts by the Federal Reserve. The Labor Department said Wednesday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.4% in March from…
Reaching the United States was a harrowing ordeal. Silva, 25, her husband and their then-7-year-old daughter braved the jungles of Panama’ s Darien Gap, traveled the length of Mexico, crossed the Rio Grande and then themselves in to the U.S. Border Patrol in Brownsville, Texas. The millions of jobs that Silva and other new immigrant arrivals have been filling in the…
The local currency registered a marginal gain during the day, as investors assimilated reports on inflation and the U.S. labor market. Against a close of 16.4410 units yesterday, with official data from the Bank of Mexico, the movement left the peso with a gain of 0.03%, less than one cent. The economic data underpinned bets that the Federal Reserve will extend its…
The economy still isn't behaving the way anyone expected. And that's confounding economists and Federal Reserve officials who are still struggling to understand the post-pandemic world. "We got through some of that' transitory' part," said Diane Swonk, chief economist at KPMG, referring to more temporary sources of inflation that drove price increases in 2021…
TALLAHASSEE— The vast majority of small insurers operating in Florida are considered so financially weak that they wouldn’ t typically meet federal guidelines allowing them to back mortgaged homes. That’ s a central finding of a study that also suggests that Florida consumers are being led to believe their insurers are much healthier than they really are.
Apr. 11— ALBANY— New York requires employers to offer health insurance to their workers that includes coverage for abortion services, but the state's top court will soon decide if that regulation should be thrown out. It's a matter that could set a precedent on where the line exists between the power of government and the freedom of religion, said Gabriella Larios,…
Earthquake coverage in New Jersey? ' "said Stella Lemberg, an operations agent with ABA Insurance Agency in Fair Lawn. According to NerdWallet, certain natural disasters such as earthquakes, floods, landslides and sinkholes are not covered under a standard home insurance policy.
Amina Tollin receives infusions through a port in her chest to reduce the debilitating symptoms of her chronic nerve condition. Three months ago, Medicaid stopped paying for the therapy as a result of an increasingly common process among private and public insurers known as prior authorization. States are taking action to curb it, but enforcement will be a challenge. (Courtesy…
Listen to the article 4 min. However, that agreement ended in April 2023, allowing states to once again assess the eligibility of their Medicaid beneficiaries. At least 19.6 million people have lost coverage to date as a result, according to a tracker by health policy research nonprofit KFF. It’ s a discrepancy researchers sought to square in the new study, which…
When Massachusetts is a national outlier in any policy, it’ s worth asking why and whether that policy still makes sense. Massachusetts today is one of only seven states that does not use Medicaid money to fund medical residencies, which provide the clinical training of new doctors after they complete medical school. The main reason appears to be cost:…
Mississippi, one of the country's poorest and least healthy states, could soon become the next to expand Medicaid. Why it matters: It's one of several GOP-dominated states that have seriously discussed Medicaid expansion this year, a sign that opposition to the Affordable Care Act coverage program may be softening among some holdouts 10 years after it became available. A new House…
Mississippi Senate leaders point to one component of the federal Affordable Care Act health care law as a reason not to expand Medicaid to provide health care coverage to the working poor. The Senate has passed legislation to allow only those earning less than 100% of the federal poverty level (about $15,000 annually for an individual) and who are working to be covered by Medicaid.
Fifteen months ago, at the beginning of 2023, I wrote in this newspaper and in another of this masthead about the intense debate on the interest rate outlook at the meetings of the American Economic Association, held that January in New Orleans. Wall Street analysts were already betting on decreases in the official price of money in the second half of last year, a…
LOS ANGELES- Recent data from the Federal Reserve reveals that by the end of the fourth quarter of 2023, the wealth amassed by America's wealthiest 1% reached an unprecedented milestone of $44.6 trillion. The collective net worth of this select cohort, delineated by the Fed as individuals holding assets surpassing $11 million, surged by $2 trillion during the…
WASHINGTON- Inflation rose more than expected in the United States in March due to higher gasoline and housing costs, a fact that worries President Joe Biden in an election year and casts more doubt on whether the Federal Reserve will start cutting interest rates in June as planned. The consumer price index rose 0.4% last month, after advancing the same margin in…
According to the IRS, of the 1.4 million taxpayers who had their tax returns withheld, 42.3% were due to deductions made for medical expenses. "The IRS goes after this because health spending is deductible from the tax base and this difference reduces the tax to be paid," explains Dilma Rodrigues, a partner at Attend Contabilidade. Maurício Tadeu de Luca…
As people age, retirement planning can’t be overlooked. BlackRock’s CEO warns that retirement systems, especially Social Security, face challenges. With more retirees and fewer workers, funding becomes difficult, risking future benefit cuts. How Retirement Began and Demographics Changed Image Credit: Shutterstock / Ruslan Huzau Retirement at 65 years started…
