relief Archives - DR News - News, Retirement, Finance

Medical Debt Relief Study Finds Limited Impact on Finances and Health

Four in 10 Americans struggle with medical debt, a burden unique to the United States among wealthy nations. The absence of universal medical insurance in the country results in much higher costs compared to patients in other developed nations. This flaw in the US healthcare system weighs heavily on individuals, leading to financial strain, savings depletion, and even downsizing of homes. Studies have shown that medical debt is linked to poorer overall health, increased rates …

Unemployment Forces Nigerians to Tap into Pension Savings for Financial Relief

Lagos, Nigeria – In the face of rising unemployment rates in Nigeria, more individuals are turning to their pension savings as a means of financial support for day-to-day expenses. The trend has become increasingly common among both public and private sector workers who have lost their jobs amid the current economic challenges. According to data from the National Pension Commission, a significant number of Retirement Savings Account (RSA) holders have requested access to 25 percent …

SSI Rule Change Removes Food Relief from Income Calculations, Boosts Financial Support for Millions

Chicago, Illinois – The Social Security Administration (SSA) has recently announced new regulations for Supplemental Security Income (SSI) that will impact millions of beneficiaries across the country. This significant change aims to improve the financial support for individuals receiving SSI benefits. Under the new regulations, relief in the form of food, categorized as support and maintenance in kind (ISM), will no longer be considered in the eligibility calculations for beneficiaries. Currently, relief for food and …

Overpayment Relief: Social Security Administration Eases Financial Burdens for Recipients

Lake Wales, Florida – The Social Security Administration is offering a solution to individuals facing high overpayment costs, providing them with some much-needed relief. This initiative aims to ease the financial burden on those who may have received excess payments and need assistance navigating the repayment process. Many Americans rely on Social Security benefits as a crucial source of income, making it essential to address any issues related to overpayments promptly. By offering respite from …

Cyberattack Fallout: UnitedHealth Group Provides $3.3 Billion in Relief to Care Providers

Bengaluru, India – UnitedHealth Group, a prominent U.S. insurer, has announced a significant step in supporting care providers affected by a recent cyberattack on insurance claims system Change Healthcare. The company revealed that it has already distributed over $3.3 billion to those impacted by the breach. A substantial portion of the funds, more than 40% of the total amount, has been allocated to safety net hospitals and federally qualified health centers that cater to high-risk …

Social Security Commissioner O’Malley Implements New Clawback Relief Measures for Beneficiaries

Chicago, Illinois – Social Security Commissioner Martin O’Malley has recently implemented changes aimed at providing immediate relief to individuals facing clawbacks from the Social Security Administration (SSA). Last November, economist Larry Kotlikoff and a collaborator highlighted troubling stories of individuals being contacted by the SSA to repay benefits due to mistaken calculations, some dating back as far as 30 years. To address this issue, O’Malley announced a significant initiative to ensure a fairer system within …

Social Security Administration Overpayment Policy Reforms Provide Relief for Beneficiaries in Crisis

Washington, DC – The Social Security Administration (SSA) is revising its policies on recouping benefit overpayments to provide relief to older Americans and individuals with disabilities who have been struggling due to excessive demands for repayment. SSA Commissioner Martin O’Malley revealed these changes during his testimony before a U.S. Senate committee on March 20, addressing the unjust practices that have caused financial distress to innocent beneficiaries. O’Malley emphasized the importance of ending the “clawback cruelty” …

Medical Debt Relief Law in Colorado Leads the Nation In Consumer Protection

Denver, Colorado – Lindsey Vance’s struggle with medical debt has been a defining factor in her adult life, beginning when she was just 19 years old. Like many Americans burdened with medical bills, Vance found herself trapped in a cycle of accruing debt that she simply could not afford to pay off. This debt hindered her ability to secure a car, apartment, or credit card in her own name for years, severely impacting her financial …

Tax on Social Security Benefits Phased Out in West Virginia, Bringing Relief to Retirees

CHARLESTON, West Virginia – Retiree advocacy groups are celebrating the recent passage of a bill aimed at phasing out state taxes on Social Security benefits. The new legislation, championed by Governor Jim Justice, proposes a three-year plan to completely eliminate taxes on Social Security income, with an estimated impact of over $37 million. AARP West Virginia State Director, Gaylene Miller, expressed joy over the decision to gradually remove this financial burden on retirees. The bill …

Social Security Disability Benefits: Financial Relief for Millions of Americans

In Miami, Florida, many Americans rely on Social Security Disability benefits to support themselves. These benefits are not just for retirees but also for individuals with disabilities who meet certain criteria. The monthly checks provide financial relief to households facing challenges due to disabilities. Each case of receiving Disability benefits is unique, with some individuals receiving payments until full retirement age while others receive them temporarily. Approximately 11% of all Social Security benefits distributed in …