Amerikai Magyar Szó, 1965. július-december (14-19. évfolyam, 26-52. szám)

1965-09-02 / 35. szám

Thursday, September 2, 1965

AMERIKAI MAGYAR SZÓ — HUNGARIAN WORD

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60 (Old Law: Age 62). The benefit payable at age 60 equals 71‘/2% of the husband’s benefit.

(3) Certain persons age 72 or over will receive a basic soc. sec. benefit of $35 per month (plus $17.50 wife’s benefit, if married) if they have a minimum of 3 quarters of coverage at anytime since 1937. (Old Law required minimum of six quarters coverage.)

(4) Certain widows age 72 and over in 1969 can get a widow’s benefit of $35 per month. If her husband died or reached age 65 in 1954 or earlier, she may receive this benefit if her husband had at least 3 quarters coverage; if he died or reached 65 in 1955. 4 quarters are required; if he died or reached 65 in 1956, 5 quarters are required; if he died or reached 65 in 1957 or later, the minimum requirement would be 6 quarters (the same as in the old law).

(5) Child’s insurance benefits will be continued for children of deceased, retired or disabled workers attending school or college after age 18 and up to age 22. (Old Law ceased paying child’s insurance benefits after age 18.) This benefit will be effective January 1, 1965.

(6) Certain divorced wives age 62 or over will be eligible for widows’ or wives’ social security benefits if they were married to the worker at least 20 years before his retirement, death or disability, and he contributed substantially to their support, when he became eligible for benefits. Wives’ benefits will be continued after divorce if the couple have been married 20 years. A final provision allows reestablishment of benefit rights to widows or wives who remarry and whose subsequent marriage lasts less than 20 years.

(7) Liberalization of the provisions relating to the payment a benefits to children adopted by retired workers.

NOTE: Benefits under (2), (3), (4), and (6) (above) will be effective beginning with the second month

after the month of enactment (September, 1965).

F. AMENDMENTS TO THE DISABILITY INSURANCE PROGRAM:

(1) An insured woi'ker will be eligible for disability benefits if he has been totally disabled throughout a continuous period of at least 12 calendar months. (Old Law provided worker’s disability must have been expected to result in death, or be of long-continued and indefinite duration.) Benefits payable will become effective with the second month after the month of enactment (September, 1965).

(2) Disability benefits would be payable beginning with the last month of the 6-month waiting period (rather than with the first month after the

6-month waiting period as provided in the old law).

(3) Persons who become entitled to an old age benefit under social security prior to age 65 can subsequently become entitled to disability insurance benefits.

(4) Certain changes are also made in the provision terminating disability benefits and waiving subsequent waiting periods so as to make them more restrictive when applied to shorter term disabilities.

(5) Blind persons will be eligible for disability benefits if they have a minimum of 6 quarters of coverage. (Old law required 20 quarters.) The definition of blindness has been liberalized to include the partially blind as being eligible for benefits after age 55.

(6) An insured worker who is eligible for disability benefits and who also receives Workmen’s Compensation benefits cannot receive total disability benefits which would exceed 80% of his average working wages over the 5-year period in benefits required prior to his disability. Any deduction will be made from Social Security benefits.

G. EARNINGS OF RETIRED PERSONS:

Persons retired under social security may earn

up to $1,500 annually without loss of benefits. From $1,500 to $2,700 there is a $1 reduction in soc. sec. benefits for each $2 earned; for earnings over $2,700, there is a $1 reduction in social security benefits for each $1 earned. (These limits represent a liberalization of the old law.) NOTE: As soon as a retired person reaches age 72, he may earn an unlimited amount of income each year and still receive full social security benefits.

H. TAX RULES FOR MEDICAL EXPENSES:

(1) Income tax deductions are allowed for medical expenses of persons age 65 and over that exceed 3% of taxpayer’s income, and for prescribed drug costs which exceed 1% of income.

(2) Taxpayers of all ages may deduct from their income half of the premiums paid each year for health insurance (up to $150 per year) without regard to the 3% rule on medical expenses. Additional expenses may be deducted to the extent that they exceed 3% of taxpayer's income.

I. OTHER CHANGES:

Cash tips received by employees must be reported to employers who are required to withhold social security tax on reported tips and pay equivalent amounts of tax, based only on the employee’s earnings.

Certain religious sects are exempted from social security coverage.

Social Security tax coverage is extended to interns and self-employed physicians retroactive to January 1, 1965.

J. INCREASED TAX RATE AND TAX BASE NOW APPLICABLE:

Under old law, 3.625% per employer and employee, and on $4,800 of earnings gradually rising to 4.625%by 1968 and after.

Under new law:

YEAR TAX RATE, TAX RATE TAX BASE ANNUAL PAYMENT

OASDI MEDICARE (by employer; employee)

1966 3.85% .35% 6,600 277.20

1967—68 3.90 .50 6,600 290.40

1969—72 4.40 .50 6,600 323.40

1973—75 _ J 4.85 .55 6,600 356.40

1976—79 4.85 .60 6,600 359.70

1980—86 4.85 .70 6,600 366.3G

1987 4.85 .80 ‘ 6,600 372.90

COMPOSITE HEALTH CARE BENEFITS FOR PERSONS AGE 65 AND OVER

COVERED BY 1965 SOCIAL SECURITY ACT

BASIC HOSPITAL, HOME HEALTH AND NURSING HOME VOLUNTARY MEDICAL AND HEALTH BENEFITS BENEFITS PROGRAM*) SERVICES PROGRAM***)

L IN-HOSPITAL CARE 60 DAYS 30 DAYS

Full payment after patient Additional care with

pays 1st $40 of charges. PLUS: patient paying $10 per Includes psychiatric day. Includes psychiahospital care.**) trie hospital care**)

2. IN-HOSPITAL SERVICES 60 DAYS PLUS: 30 DAYS Additional medical and health services, including

a. Health Sservices Ancillary hospital services. Ancillary hospital lab and other tests; x-ray, radium and radioactive

services. isotope therapy; ambulance services; surgical dressings; splints; casts; rental of durable medical 60 DAYS 30 DAYS equipment, etc.

b. Physician’s Services Services of interns and PLUS: Services of interns

residents only and residents only. Physician’s and surgeon’s services.

3. OUTPATIENT HOSPITAL 20 DAYS

DIAGNOSTIC SERVICES Patient pays $20 deductible for services furnished by the

hospital during a 20 day period. Patient pays 20% of costs after the deductible is met.

4. HOME HEALTH SERVICES 100 VISITS 100 ADDITIONAL VISITS

After three or more days in a hospital, or extended care During each calendar year, facility (nursing home).

5. EXTENDED CARE FACILITY 20 DAYS PLUS: Up to 30 DAYS

(Nursing Home) After 3 or more days in Additional care, patient

a hospital pays $5 per day.

6. SERVICES IN HOME Medical and health services, including: lab and

OFFICE, OR CLINIC other tests; x-ray radium and radioactive isotope

a. Health Services therapy; ambulance services; surgical dressings;

splints; casts; rental of durable medical equip., etc.

lit hu . ict/M wi

Out-of*hospital psychiatric care max. per. calendar v

• year of $250 or 50% of expenses, whichever is

b. Physician’s Services smaller.

______ Physician’s and surgeon’s services.

*) Presently available to all persons age 65 and over. ***) Only available to persons age 65 and over

**) All psychiatric hospital care is limited to a 190 day who voluntarily enroll for these benefits and pay

lifetime maximum. a $3 monthly premium. Patient also pays 1st $50

of annual charges. Thereafter, plan pays 80% of charges, and patient pays 20% of charges.