Social Security Overview and Updates for 2019

Since 1935, US workers have “paid it forward” to ensure that the elderly, orphans, the widowed, and the disabled have a modest pension. Payroll taxes on current workers, the Social Security trust fund, and taxes on wealthy retirees provide nearly a trillion dollars of benefits a year. If you work in the USA and are a citizen or an adequately documented immigrant, Social Security exists to ensure you and your family against poverty in old age and disability.

Currently, the average monthly Social Security pension for a retired person is $1,404/month; for a disabled person is $1,234/month; and for survivors (widows, widowers, orphans, dependent parents) is $1,152/month. The longer one works (until 70) and the higher one’s pay, the greater one’s retirement pension. Under current rules, Social Security benefits are fully funded until 2034.

To qualify for social security, a US citizen or legal immigrant must work and pay into the system through a payroll tax. He or she must earn over $1,000 per quarter (of a year). Usually, 40 quarters of work (about ten years) get him or her into the Social Security system and provide pensions for retired workers, their survivors, and disabled workers when (and if) needed.

NEW FOR 2019:
• In 2019, the full age of retirement, currently 66, will be reached by those born in 1953. See the graduated changes in full age of retirement here.
• All pensioners receive a raise this year of 2.8%. It offsets some of their cost of living.
• Payroll taxes of 12.4% now cover $132,900 of a worker’s income, an increase in taxable income of $4,500 from last year.
• Maximum monthly paycheck at full retirement age increases from $2,788 to $2,861.
• People who were working while drawing a Social Security pension before their full retirement age will pay the penalty now on earnings over $3,910/month.
• The disabled may now earn up to $1,220/month before their benefits are stopped. (The legally blind may now earn up to $2,040/month.)
• This year, it gets a little harder to qualify for benefits. Current workers must earn at least $1,360 in one quarter to earn a work credit.

To find out more about your benefits within Social Security, visit your local Social Security office.

You’re Entitled to Compensation If Injured in a Vancouver Motorcycle Accident

If you’ve been injured on your motorcycle, you’ll no doubt suffer more than just the physical injuries. You’ll suffer some type of emotional stress, financial issues, and mental anguish. For many injured in a motorcycle accident, there is also the added stress of dealing with medical bills, especially if the injuries sustained were enough to keep you out of work. If you’re wondering how you’ll pay the bills, read on for some helpful tips.

Health Insurance

If you’re injured in a motorcycle accident, your health insurance should be paying your medical bills. You may be thinking that’s not fair because you weren’t at fault for the accident. However, until any claim is settled, you’re still responsible for the bills. If you do wind up with a settlement, you’ll have to reimburse your health insurance, provider.

Medical Payment Insurance

You may have medical payment insurance as part of your motorcycle insurance coverage. You will need to check with your insurance company for more information on your policy, but if you have medical payment insurance, just like health insurance, this will cover your medical bills. If you receive a settlement, you’ll need to reimburse the insurance company.

Deferred Payments

If you don’t have any insurance to cover your medical bills and have no other means to do so, your injury attorney can write a letter to your doctors explaining that the injuries are related to a motorcycle accident and that you’re filing a claim against the other driver. The letter should state that once you’ve received a settlement, you are promptly paying your bills.

If the other driver involved in your accident is found to be responsible for the crash, you are entitled to receive compensation for medical expenses related to the incident. In some cases, your doctor may state that you’ll require future treatments, and an amount for those treatments may be included in any settlement negotiations.

Contact an experienced Vancouver injury attorney for more information. Your attorney will review your case to determine who may have been at fault and what you can do to receive the compensation you deserve.