Saturday, December 29, 2012
Friday, December 28, 2012
Thursday, December 27, 2012
Tuesday, December 18, 2012
A chained CPI could hit seniors who live a long time; more on the Supreme Court and on the "Ponzi" idea
When people make FICA contributions and expect to be paid back in their own retirement, there's another part of the deal that we miss: providing another generation that is capable of paying us back!
Monday, December 17, 2012
Another proposal would be that the government no longer indemnify providers when patients don't make copays.
Thursday, December 13, 2012
Another look at Supreme Court's 1960 opinion suggests that Social Security is more like "welfare" than an "annuity", a dangerous idea now
Wednesday, December 12, 2012
Wednesday, December 05, 2012
A story posted here March 29, 2011 indicates that HUD rules promulgated then could be complicating the problem.
Monday, December 03, 2012
Supreme Court, in 1960, said that retirees don't have a "property right" to Social Security benefits based on their FICA contributions; another argument for means testing?
Saturday, December 01, 2012
Friday, November 30, 2012
Wednesday, November 28, 2012
NBC Nightly News covered the current means testing of Medicare Part B premiums tonight (Wednesday, November 28, 2012) and hinted that reform could means test Medicare premiums even more. Since Supplemental Insurance is private, it normally would not be means tested (and substantial discounts are available through AARP if the person signs up when starting Medicare).
If Medicare premiums for the wealthy are raised even more, some of the people could buy substitute Medicare Advantage policies on the open market, as private insurance companies would step in and probably offer better deals to healthier seniors. But sicker patients would be left to Medicare -- the old cherry picking problem.
Tuesday, November 27, 2012
AARP "Earned a Say" column discusses Social Security future, including means testing, which could come fairly quickly if politically expedient
Monday, November 26, 2012
Sunday, November 25, 2012
Thursday, November 22, 2012
Wednesday, November 21, 2012
Monday, November 19, 2012
Friday, November 16, 2012
Newer brain scans for Alzheimer's not covered by Medicare or insurance, could preclude long-term care coverage
Thursday, November 15, 2012
If you have Part D insurance, the actual price charge to everyone for prescription drugs will drop considerably
Monday, November 12, 2012
Queens NY hospital that housed Sandy senior homeless victims is caught in the middle, between Medicare and FEMA, for doing the right thing
Tuesday, November 06, 2012
Monday, November 05, 2012
AMT ("alternative income tax") could hit seniors with relatively modest incomes hard for 2012 unless congress restores higher "exemption" amount
I had previously thought (as has some commentators) that the tax liability can have a discontinuity jump if the Line 38 1040 amount goes over a lower amount. This does not seem true, as if you follow through Part II of the 6251 and then lines 44-45 of the 1040, you can find the "interpolation". Still, the tax is steep and for 2012 would not be in line with other tax rates. Most seniors would not have an issue if Congress keeps the amount at $48450 or increases it during the lame duck session. There seems to a lot of confusion (even among tax preparers) as to what really will happen if Congress fails to fix the 2012 amounts.
The AMT rules could provide very perverse incentives for some seniors not to work part-time when they otherwise would, because they could be penalized big time for having adjusted gross that reaches the exemption threshhold. Congress must fix this problem. It is a gross, self-inflicted public policy blunder with major economic consequences.
Saturday, November 03, 2012
Tuesday, October 30, 2012
If you don't want to join the Letterman Zipper Club, never to go the doctor: active seniors may like things the way in the 50s, when we didn't try to live forever
Sunday, October 21, 2012
Increasing Social Security tax contributions and mitigating benefits will be a tricky proposition (Diamond/Orzag)
Tuesday, October 16, 2012
Small Biz Tax Training has a video (Jan. 2012) explaining Social Security tax for self-employed individuals:
These rules can affect people forced to work as independent contractors by "employers", such as taxicab drivers and often home health caregivers.