Faqs Faqs Health Insurance Marketplace And The Aca When Can Plans Limit Coverage Of Particular ContraceptivesThe public frequently confuses the two programs. Like Social Security, people become eligible for Medicare based on payroll tax withholdings from their earnings. Eligibility for Medicaid is based on low income. Medicaid is a combined state and federal program, in which the federal government pays roughly 60% of program costs for all whose income is low enough to qualify under current law. The new House law would end the open ended nature of funding and cap per person costs, adjusting reimbursements for inflation using the consumer price index..While 211 Members have signed onto the House bill, critics of the legislation worry about increasing the payroll tax rate - especially on lower income workers. Lawmakers are continuing to discuss alternatives, and TSCL continues to meet with Members of Congress. TSCL's Senior Survey has found 74% of survey participants support completely lifting the taxable maximum and applying the payroll tax to all earnings. About 61% of survey participants support increasing the payroll tax rate by 1% each for workers and employers..But with low growth in Social Security benefits, rapidly growing healthcare costs, and more people living longer in retirement, that argument has little support among the public. A March 2016, Pew Research survey found that 71% of Americans believe benefits "should not be reduced" while only 26% say that "cuts should be considered." … Continued
Patient Education Total Hip Replacement Preparing For Surgery Preparing Your Home For Your Needs After SurgeryWhen there is no or a very low COLA, a special provision of law known as "hold harmless" protects beneficiaries when the dollar amount of their COLA is lower than the dollar amount of their Part B increase. The Part B premium is adjusted to prevent a reduction in Social Security benefits from one year to the next. "But when this provision occurs on a program-wide basis - as it did in 2016 and 2017, the entire increase in Medicare Part B for the year is shifted to the people who are not protected by hold harmless, Johnson notes. Instead of the Part B increase being spread over all Medicare beneficiaries, the total cost increase is borne by only 30 percent of Medicare beneficiaries who are not protected by the hold harmless provisions. They include:.The health premium subsidy will be paid on your behalf directly to your selected insurance plan, and you will get tax credits that reduce the total amount of tax you owe to the IRS. This can mean a bigger refund if you don't owe. The credit begins with insurance that starts January 1, 2014 or later..Should the Supreme Court strike down subsidies through the federal exchange, it remains unclear what Congress would do and how consumers would be impacted. Obamacare advocates say that consumers will not be required to pay back subsidies if the Court's ruling is unfavorable. However, TSCL advises caution since the Court has made no decision yet and the IRS has yet to issue guidance. … Continued
