medicare

2013 Debt Ceiling Debate – Spending Cuts, Soaring Deficit, Tax Refund Delays and Political Theatrics

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As I was writing this article I re-read my original pieces on the 2011 debt ceiling debate/deal and got a major sense of deja-vu. After 18 months we are back in the same place with a dysfunctional Congress, who barely passed legislation to avert the fiscal cliff, trying to reach a new deal to keep the nation from the edge of [...]

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2013 Medicare Tax Increase, Health Care Account and Medical Expense Changes

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With a host of tax changes set to come into effect next year thanks to the expiring Bush-Obama tax cuts and new “Obama-care” health care related taxes, it can be hard to keep up with all that’s happening. But these Medicare and employer health care related tax changes in particular, will hit close to home [...]

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How Our Tax Dollars Are Spent by The Government

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Ever wondered where all our federal tax dollars go? I did and a recent report from the center on budget priorities and policies (CBPP) provided a very nice graphic on how federal tax dollars are distributed. With all the political rhetoric that abounds around the national debt, excessive federal spending and the uncertain future of [...]

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2012 Medicare Part B Monthly Premiums By Income Levels And Tax Filing Status

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2012 Medicare Part B monthly premium rates that cover hospitals plus physician and outpatient expenses, are shown in the following table (by individual and joint filers) and reflect the 2012 COLA increase. The standard Medicare Part B monthly premium ($99.90) for existing beneficiaries reflects a $3.50 increase over the 2011 “harmless” premium of $96.40. New [...]

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2012 Social Security and Medicare: Tax Rate and Maximum Taxable Earnings

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Most people who work or are self-employed are subject to Social Security taxes. This is true, regardless of age. Employers are also subject to Social Security taxes for their employees. If you are self-employed, and your business’ net profit is greater than $400, you must also pay Social Security (and Medicare) taxes. Self employed workers have [...]

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Super Committee Fails to Reach Debt Deal – Automatic Triggers To Cut Defense and Discretionary Spending

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[Latest Update]  As many had predicted, the debt Super Committee has failed to come up with a deficit reduction plan. Basically the not-so-super members failed to get past party line bickering and will now face the prospect of justifying to an angry public why they could not compromise. Further, the automatic triggers to cut defense [...]

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2012 COLA (Cost-of-Living Adjustment) 3.6% Increase for Social Security, SSI, Federal Retirees and Medicare Premiums

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[Updated October 19 - Official 2012 COLA Increase is 3.6%] The Social Security Administration (SSA) announced that the Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 60 million Americans will increase by 3.6 percent in 2012. The 2012 COLA increase would be the first in two years, reflecting a rise in [...]

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2013 Debt Ceiling Increase Debate – Social Security, Medicare, Medicaid, Defense, Education and Food Stamp Spending Cuts

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[2013 Update] As I was updating this article, originally written in mid-2011 following the first debt ceiling deal, I got a major sense of deja-vu. After 18 months we are back in the same place with a dysfunctional Congress who barely passed legislation to avert the fiscal cliff.  But it’s my job to write so [...]

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2012 Payroll Tax Credit Holiday Extended Till Year End. Extensions For Unemployment Benefits and Medicare Payments Also Approved

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[Updated- 2012 Payroll Tax Credit Holiday, Unemployment Benefits and Medicare Doctor Payments Extended to Dec 31st] With House Republican support Congress has passed legislation extending the federal payroll tax holiday through the end of the year without demanding spending cuts to pay for it. This was a concession aimed at averting another repeat of their [...]

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2011 Medicare Premiums, Deductibles and Coinsurance Rates For Part B (Medical Insurance) and Part A (Hospital Insurance)

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Medicare, the federal health-insurance program for people 65 and older and their caregivers,  is going to see some changes in 2011 thanks to the implementation of new health care laws and there are some changes participants should be aware of during annual enrollment (to Dec 31st) and into next year. The following is a listing [...]

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