Report: Mass. cities face $20B retiree health care burden
The $20 billion represents what local governments would have to pay for lifetime health care benefits already earned by 150,000 current employees and retirees. The report said the figure was likely understated, because it assumes 5 percent annual growth in health care costs, when actual increases have exceeded 10 percent over the last decade in many communities.
Obama budget ignores Social Security, Medicare fixes
Speaking at a news conference a day after releasing his 2012 budget — a $3.73 trillion spending plan — Obama said the politically explosive changes in those programs cannot be solved through dictates from the White House. The White House budget proposal does not address reforms to the Social Security pension system, Medicare medical insurance for the elderly or the Medicare program for poor people. Social Security and Medicare are the two largest items in the U.S. budget.
Sens. propose spending cap affecting Soc. Sec., Medicare
Social Security, Medicare and virtually every other federal program would face the budget ax under legislation unveiled Tuesday aimed at forcing Congress to dramatically cut spending over the coming decade.
House GOP considers privatizing Medicare
House Budget Committee Chairman Paul Ryan, R-Wis., is testing support for his idea to replace Medicare with a fixed payment to buy a private medical plan from a menu of coverage options.
Elders, caregivers fare ok in Gov. Patrick’s $30.5B Mass. budget plan
Programs and services for elderly and caregivers suffered some cuts, but for the most part, were level funded at last year’s levels.
Social Security fund will be drained by 2037
This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday.
Seniors may have to pay for Medicare home health
WASHINGTON, Jan. 14 —
Medicare recipients could see a sizable new out-of-pocket charge for home health visits if Congress follows through on a recommendation issued...
Gov. Patrick cuts $15.5 million from elderly services
“Cutting community based services for the elderly is fiscally wrong-headed,” said Mass Home Care Executive Director Al Norman. “Day care and foster care programs keep seniors out of more expensive institutions. At a time when revenues are limited, it makes sense to invest in programs that save taxpayer’s money.”
What you pay for Medicare won’t cover your costs
Nearly three out of five people say in a recent Associated Press-GfK poll that they paid into the system so they deserve their full benefits — no cuts.
Baby boomers near 65 with retirements in jeopardy
Through a combination of procrastination and bad timing, many baby boomers are facing a personal finance disaster just as they’re hoping to retire.
