The House is scheduled to vote tomorrow on a constitutional amendment to require the federal government to balance its budget every year. Lawmakers would be more honest if they just called it a Constitutional Amendment To Cut Benefits For Old People. Because that’s who’d likely bear the brunt of the spending cuts needed to comply with such a balanced budget [...]
President Trump has proposed deporting hundreds of thousands of immigrants and backed curbs on legal immigration into the US. The president’s aggressive views on immigration have generated intense debate over the past year, but much of that discussion has ignored a key issue: What immigration restrictions would mean for the long-term health of Social Security. A new study by my Urban Institute [...]
Congress is nearing passage of a $1.5 trillion tax cut that would mostly benefit businesses and high-income households. For older adults, the effects are complicated. Some will receive large tax cuts. Some will be no better off and a few will be worse off. But beyond the immediate tax changes in the bill, the measure sets the stage for what [...]
Enrolling in Medicare Part B should be simple. But for years the government has been making enrollment nearly impossible for millions of seniors, especially those who are still working or who have delayed taking their Social Security benefits. They are never told that are eligible for Medicare, they don’t know that they face still penalties if they don’t enroll by [...]
Older adults in the US may be making nearly one-third more, on average, than commonly thought, according to an important new study by two US Census Bureau researchers. Their report, published last month, finds that the median household income for those 65 and older was about $44,400 in 2012, significantly higher than the $33,800 previously reported by Census. The implications [...]
For the first time in years, maybe for the first time ever, a major presidential candidate has put family caregiving on the political front-burner. Over the weekend, Democratic presidential frontrunner Hillary Clinton proposed a package of ideas aimed at assisting those who are caring for aging parents or other family members. Her ideas are modest and won’t provide the level [...]
If the government doesn’t act soon, nearly one-third of Medicare beneficiaries face a 50 percent increase in their Part B premiums for 2016, while more than two-thirds will pay no premium hike at all. Most beneficiaries will pay the same monthly premium next year as they paid this year--$104.90. But others making the same income will pay $159.30. And some [...]
A typical American turning 65 this year is in line to receive about $500,000 in lifetime Social Security and Medicare benefits. That's more than $1 million for older couples. But many still won’t have enough money to pay for out-of-pocket medical care and long-term supports and services. While the wealthiest seniors will have the resources to pay these hefty out-of-pocket costs, most older adults won’t [...]
You know the old mantra: When you turn 65 you are eligible for Medicare and Social Security. But matters are no longer that simple. And because growing numbers of older Americans are not taking Social Security benefits until past 65, they may be making poor Medicare choices or missing out on some benefits entirely--simply because the government is not telling them [...]
Republican control of Congress means that senior service programs—most of which have been frozen for years—will face growing budget pressures. At the same time, the GOP also may try to give states more flexibility in the way they provide Medicaid and other benefits to the elderly and disabled. And while the GOP leadership will be under pressure from Tea Party [...]