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Leaders are expected to soon present details of the deal — it is expected to include equal increases in both domestic and military spending and would prevent a premium increase for Medicare Part B recipients from going into effect — to members over the coming days, setting up a very tight time frame to build support for the plan before Congress will be required to vote on debt limit increase. The Treasury Department says the debt limit will be hit by Nov. 3.
The deal would include about $80 billion more in spending over two years, which would be offset by savings from changes to the Social Security Disability Insurance fund and Medicare payments to doctors and other health care providers.
Aides said the deal also would likely include new rules for the Social Security Disability Insurance fund, which is expected to run out of funds by the end of 2016. Discussions have also included maintaining a 2 percent cut to Medicare provider payments that were included in the 2011 Budget Control Act, also known as the sequester. Those cuts could be problematic for Democrats who have insisted that there be no changes to Medicare or Social Security in a budget deal.
I was finally declared disabled last October, at age 61. I'm now 62 so can technically apply for SS. Should I just be watching this or should I plan on applying for regular SS?
I was finally declared disabled last October, at age 61. I'm now 62 so can technically apply for SS. Should I just be watching this or should I plan on applying for regular SS?
This is evidently a proposed bipartisan budget deal which would be voted on this week
This is evidently a proposed bipartisan budget deal which would be voted on this week
Without support from Paul Ryan, it doesn't look like it's going anywhere.
Quote:
A pilot version of that program has been in effect in several states and has been shown to reduce the number of applicants approved, lowering the cost of the program. Other savings would come from so-called “good governance” changes that are intended weed out waste and fraud.
I read a little bit about it, but none of it was attributed. It involved longer waiting periods to receive benefits, more stringent requirements to qualify and an increased effort on getting SSDI recipients to return to work. The article I read said medicare cuts would involve 'changes in payments to providers' which would really suck, if they keep that up people on medicare will be in as bad a position as medicaid patients when it comes to finding doctors.
I was finally declared disabled last October, at age 61. I'm now 62 so can technically apply for SS. Should I just be watching this or should I plan on applying for regular SS?
whether or not you need the money should be the deciding factor on whether or not you apply, and even though a doctor declares you disabled, SS will likely require additional medical opinions.
Sneaky, sneaky. It *appears the agreement closes the "unintended loophole", of "file and suspend". If you're already 62 or will turn 62 this year, the file and suspend option remains.
A portion of the retirement contributions will be redirected to the disability fund for three years.
Meo, you're o.k., unless you decide to return to work. The additional income would definitely not be worth the hassle. Regardless, you absolutely DO NOT want to "switch" from disability to early retirement benefits because you would take a hit of 25% +/- hit to your benefits.
* The draft is 144 pages long and does not include the original regulations for direct comparison. It'll take a while before the Social Security and Medicare gurus sort it all out.
Sneaky, sneaky. It *appears the agreement closes the "unintended loophole", of "file and suspend". If you're already 62 or will turn 62 this year, the file and suspend option remains.
* The draft is 144 pages long and does not include the original regulations for direct comparison. It'll take a while before the Social Security and Medicare gurus sort it all out.
Well, shoot. It looks like the file and suspend applies to "benefits payable beginning six months after enactment". The 62 year cutoff I cited above applies to the other provisions, i.e. dual entitlement and deemed filing.
These "file and suspend" schemes, er.....strategies...should have gotten the kibosh long ago.
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Oops
