Happy New Year & Best Wishes Throughout 4th Happy New Year & Best Wishes Throughout 2012

Happy New Year & Best Wishes Throughout 4th   Happy New Year & Best Wishes Throughout 2012
Happy New Year & Best Wishes Throughout 4th   Happy New Year & Best Wishes Throughout 2012
Happy New Year & Best Wishes Throughout 4th   Happy New Year & Best Wishes Throughout 2012
Happy New Year & Best Wishes Throughout 4th   Happy New Year & Best Wishes Throughout 2012
download Happy New Year & Best Wishes Throughout 4th   Happy New Year & Best Wishes Throughout 2012

of 4

  • date post

    08-Jul-2020
  • Category

    Documents

  • view

    3
  • download

    0

Embed Size (px)

Transcript of Happy New Year & Best Wishes Throughout 4th Happy New Year & Best Wishes Throughout 2012

  • 4rd Quarter 2011| Volume 8, Issue 4| Social Security Administration 1

    Volume 8, Issue 4

    October-November

    Pursuing Excellence in Public Service

    www.ropssa.org

    Happy New Year & Best Wishes Throughout 2012Happy New Year & Best Wishes Throughout 2012Happy New Year & Best Wishes Throughout 2012Happy New Year & Best Wishes Throughout 2012

    SSA Website has New Look & Up- to-Date Info

    In our efforts to provide more comprehensive information

    and up-to-date news, we have launched a new website design, set with a new layout and updated information. There is comprehensive information regarding employer contributions, SS benefits, and the new Healthcare Fund

    (HCF) program. You can also download documents, such as SS & HCF laws, regulations, and quarterly newsletters. Visit our website now at www.ropssa.org.

    ALSO ONLINE: The HCF has developed a public survey that will help determine what can be done to improve and enhance the program and to see what additional services can be covered. Take the online HCF survey now

    by visiting www.ropssa.org/hcf-survey.php. Your sugges- tions will be reviewed and used to support on-going im- provement efforts.

    Back row, standing left to right: Hazel Tesei, Florah Tewid, Frolly Ann Bultedaob, Elsie Ann Ikeya, John Stills, Reagille Takataro, Shonya Kadoi-Andreas,

    Maria Remeliik, Lasker T. Chin, Crystal Ngiraidong, Michele Murray, Charity Ngiraibai, Moira Azuma, Jessica Emesiochel, Analee Maidesil, Melinda Mills,

    Dillusech Sadang, Hefflin Bai. Front Row, sitting left to right: John Markub, Marla Rimirch, Kekerelchad Kloulchad, Janice Mathew, Wilfred Asanuma,

    Dessmarie Dilutaoch, Marcelino Xavier. Missing from photo: Jeany Spis, Sharon Golbuu, Denise Ajimine, Kumiko Kurihara, Irorou Mai, Prince Idelkei,

    Bibrekei Rengulbai

  • 4rd Quarter 2011 | Volume 8, Issue 4| Social Security Administration 2

    Questions from Members Two Additional Private Clinics

    Begin Accepting MSAs What can I do now to increase the amount of my monthly benefit payment when I am finally eligible to apply for Social Security Retirement benefits?

    The strategy is to continue to work to build up your

    cumulative coverage earning base.

    What does the cumulative coverage earning base do?

    It is from the cumulative covered earnings base that

    the basic monthly benefit is computed; therefore the bigger the cumulative covered earnings, the bigger the basic monthly benefit. You can build up your cu- mulative covered earnings only by returning to work

    and report your wages and paying due taxes on said

    wages.

    What if I am currently collecting my retirement bene- fits?

    The strategy works equally well for you. You can re- turn to work while receiving Social Security retirement

    benefits; you just have to report your income to Social

    Security.

    What if I am under 65 years old and earning more that $1,800 in any quarter?

    Your Social Security Retirement benefit will be sub-

    jected to earnings test.

    What if I am 65 years old or older?

    Your additional contributions will have the net effect

    of increasing your monthly benefit amount because all additional contributions are accounted for and

    your benefit recomputed.

    When will my benefit be recomputed?

    Your benefit will be recomputed to reflect any addi- tional contributions after the end of the calendar

    year, and the recomputed benefit amount shall be paid for each month following the end of that calen- dar year. If you are 65 years or older, you can keep working and your social security benefit will not be

    reduced, no matter how much you earn.

    The Healthcare Fund, under the

    Social Security Administration, would like to inform the public that Community Wellness Clinic in Ngerchemai, owned by Dr. Sylvia Wallybegan accepting

    medical savings accounts (MSAs) in De-

    cember 2011.

    In early January 2012, OpticVision Opti- cal Clinic in Topside officially agreed to begin accepting MSAs as well. The antici-

    pated start date for patients to begin us- ing their MSAs at the optical clinic is Janu-

    ary 10, 2012.

    That would bring the number of private

    accepting MSAs to five: 1) Belau Medical Clinic, 2) Pacific Family Medical Supply, 3) MH Dental Clinic, and 4) Community Well- ness Clinic, and 5) OpticVision Optical

    Clinic

    We would like to remind the public that pursuant to Section 406 of the Healthcare Fund Regulations, the amount paid out of a medical savings account for a covered

    service at a private clinic shall not exceed the amount that would be paid to Belau

    National Hospital for the same service.

    This means that if a service that a private

    clinic charges is more than what BNH would charge, then the private clinic pa- tient must pay the excess amount out-of- pocket. If the private clinic charges less

    than what BNH would charge for that same service, then the patient can use his MSA to pay for that specific service with

    no out-of-pocket expense.

    If anyone has any questions regarding

    the use of medical savings accounts,

    please call the HCF office at 488-1904.

    Have you Received your HCF Statement in the Mail?

    The Social Security Administration, the agency administering the

    Healthcare Fund (HCF) program, mailed out medical savings account

    statements to over 10,000 members in early November 2011. The state-

    ment, the very first since the inception of the healthcare program, was

    designed to show all your contributions and all your withdrawals begin-

    ning on October 1, 2010 until September 30, 2011 and, ultimately, to

    See HCF Statements. Page 4

  • 4rd Quarter 2011| Volume 8, Issue 4| Social Security Administration 3

    4rd QUARTER 2011 STATISTICS

    Reminder to Businesses without Employees

    The Social Security Administration is reminding

    all Employers with Sole Proprietorship/Partnership

    status without employees, that they are required

    to file their businesses’ annual income for 2011 no

    later than January 31, 2012.

    Please be reminded to bring along copies of

    valid supporting documents, e.g., Gross Revenue

    Tax Forms to support the declared business reve-

    nues. If a business has no employees and is mak-

    ing less than $10,000 in annual gross revenue, fil-

    ing is a MUST but payment is optional. Those that

    are making at least $10,000 a year are required

    to file and pay accordingly.

    4rd Quarter Returns Due

    The Social Security Contribu-

    tions for 4th Quarter 2011 is due

    no later than January 31, 2012.

    Quarterly Tax Returns must be

    completed upon entrance for

    payments. Should you need

    assistance in completing your

    Quarterly Tax Report Form, our

    Representative at the front

    area will be happy to assist you.

    Be reminded that penalty charges of $250 or

    100% of the total amount owed (SS Contribution

    only), whichever is higher, and interest of 1% per

    month, shall be assessed to returns received af-

    ter the deadline. In addition, $1.00 error charge

    shall be applied to each incorrect information

    provided on the returns filed, specifically, EIN

    number, Employee Name and Social Security

    Number. Thus, you are encouraged to verify

    your return, file and pay on a timely basis to

    avoid additional charges.

    REFUNDING SS CONTRIBUTIONS

    In accordance

    with the SSA Op-

    erational Rules

    and Procedures,

    Section 603, an

    employee that

    contributes on a

    total remunera-

    tion in excess of

    the maximum re-

    muneration of

    $5,000, whether from one or more employers,

    and their employee contributions are withheld

    and paid to the Administration, the excess em-

    ployee SS contributions during the four quarters

    ending on December 31st will be refunded by the

    Administration to the employee. However, no

    refund will be made for an amount of less than

    $5.00.

    No refund shall be made to any employer on

    any amount of excess issued to any employee

    who owes outstanding employer or employee

    social security debt; instead, the refund shall be

    used to off-set any outstanding Social Security

    debt.

    Please note, if any of the four quarters is not

    fully paid by February 28th, an employee may

    lose his/her eligibility for refunds that may be

    due.

  • 4rd Quarter 2011 | Volume 8, Issue 4| Social Security Administration 4

    Republic of Palau Social Security Administration P.O. Box 679 Koror, Palau 96940

    Tel: (680) 488–2457 Fax: (680) 488–1470

    E-mail: administration@ropssa.org

    Visit us on the web: www.ropssa.org

    YEARS OF SERVICE

    Happy Birthday!!

    November Elsie I. Marla R. Michele M.

    December Jeany S. Melinda M. Kumiko K.

    show you the available balance in your medical

    savings account. The statement was also de-

    signed to show you the names of your depend-