Social Security and Medicare Cuts



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Social Security and Medicare Cuts

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SSA Fact Sheet on 2018 Social Security Changes

www.ssa.gov

NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare.
The Social Security portion (OASDI) is 6.20% on earnings up to the applicable
taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all
earnings. Also, as of January 2013, individuals with earned income of more than.

2017 SOCIAL SECURITY CHANGES

www.ssa.gov

NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare.
The. Social Security portion (OASDI) is 6.20% on earnings up to the applicable
taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all
earnings. Also, as of January. 2013, individuals with earned income of more than
 …

Update 2017 – Social Security

www.ssa.gov

High-income earners also pay an additional 0.9 percent in Medicare taxes on
earnings above certain amounts. Check with the Internal Revenue Service for
more details. Work credits. When you work, you earn credits toward Social
Security benefits. The number of credits you need to be eligible for. Social
Security benefits …

Social Security and Medicare Insolvency Final.pdf

www.jec.senate.gov

Jul 1, 2016 automatic benefit cuts kick in. Both the Social Security and Medicare trustees (
trustees)i and the. Congressional Budget Office (CBO)ii expect the first
bankruptcy to occur in the Social Security program for people unable to work due
to a disability (Disability Insurance, or DI). CBO expects this will happen in.

2016 Social Security Changes

www.ssa.gov

NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare.
The. Social Security portion (OASDI) is 6.20% on earnings up to the applicable
taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all
earnings. Also, as of January. 2013, individuals with earned income of more than
 …

2015 Medicare/Social Security Trustees' Report Analysis

www.finance.senate.gov

Social Security: Trustees Project Trust Fund Depletions… • The combined Old-
Age, Survivors, and Disability Insurance (OASDI) Trust Funds will be exhausted
in 2034. o Absent structural changes to the programs, Social Security
beneficiaries face benefit cuts of 21% or more beginning in 2034. • The Disability
Insurance (DI) …

Medicare & Medicaid Milestones, 1937 to 2015, July 2015 – CMS.gov

www.cms.gov

Jul 2, 2015 1960's. 1965. Medicare and Medicaid were enacted as Title XVIII and Title XIX of
the Social Security Act, providing hospital, post-hospital extended care, and
home health coverage to almost all Americans aged 65 or older. (e.g., those
receiving retirement benefits from Social Security or the. Railroad …

Welcome to Medicare 2017 – Medicare.gov

www.medicare.gov

Just cut out and sign the front of your Medicare card and keep it safe. The
monthly premium will be deducted automatically from your Social Security benefit
payment when your coverage starts. If your Social Security benefits aren't enough
to cover the whole Part B premium, you'll get a bill for your Part B premium every
3 …

Options for Reducing the Deficit: 2015 to 2024 – Congressional …

www.cbo.gov

Increase the Maximum Taxable Earnings for the Social Security Payroll Tax. 39.
Option 61. Increase the Payroll Tax Rate for Medicare Hospital Insurance by. 1
Percentage Point. 40. Option 62. Increase Taxes That Finance the Federal Share
of the Unemployment. Insurance System. 41. Taxation of Income From
Businesses …

Tax Cuts and Jobs Act – Joint Committee on Taxation

www.jct.gov

Nov 3, 2017 [5] nontaxable Social Security benefits, [6] insurance value of Medicare benefits, [
7] alternative minimum tax preference items,. [8] individual share of business
taxes, and [9] excluded income of U.S. citizens living abroad. Categories are
measured at 2017 levels. (3) Federal taxes are equal to individual …

Social Security in the United States and Chile – Bureau of Labor …

www.bls.gov

efits into the Social Security trust funds. Currently, some of this tax rev- enue is
used to fund medicare. The maintenance-of-benefit option also includes the
expansion of Social. Security coverage to all new State and local government
employees. Accord- ing to the Bureau of Labor Statistics, about three-fourths of
State and …

concurrent resolution on the budget— fiscal year 2018 report …

www.gpo.gov

Jul 24, 2017 funds of the two major social insurance programs—Social Security and Medicare
—are approaching depletion, which will force deep and automatic cuts in benefits
, as required by law. Meanwhile, last year Washington paid out nearly $150
billion in benefits to the wrong people, in the wrong amounts, or for …

GAO-05-193SP Social Security Reform: Answers to Key Questions

www.gao.gov

May 18, 2005 UNITED STATES. GOVERNMENT ACCOUNTABILITY OFFICE. Answers to. Key
Questions. GAO-05-193SP. May 2005. Social Security. REFORM … Figure 13:
Social Security, Medicare, and Medicaid Spending as a Percentage ……
revenues or spending cuts, budget deficits for the federal government as a.

Legal Basics- Medicare Savings Programs – National Center on Law …

ncler.acl.gov

considers cutting back on necessary medications to save some money and
wonders how she will pay for her rent. Rose should not be forced to decide
between necessities like her rent … 4 National Committee to Preserve Social
Security & Medicare, “Medicare and Medicaid Are Important to African Americans
,” available at …

(Medicaid) programs eligibility overview – Washington State Health …

www.hca.wa.gov

Apr 1, 2017 Title XXI of the Social Security Act for the Children's. Health Insurance Plan) that
covers the Categorically. Needy (CN) and Medically Needy (MN) programs.
Washington Apple Health is an umbrella term or. “brand name” for all
Washington State medical assistance programs, including Medicaid. The brand.

HR 1628 – Congress.gov

www.congress.gov

May 4, 2017 Elimination of DSH cuts. Sec. 114. … Repeal of elimination of deduction for
expenses allocable to medicare part D subsidy. ….. (c) UPDATING ALLOWABLE
HOME EQUITY LIMITS IN. 17. MEDICAID.—. 18. (1) IN GENERAL.—Section
1917(f)(1) of the. 19. Social Security Act (42 U.S.C. 1396p(f)(1)) is. 20.

Guide to Benefits for Seniors – National Council on Aging

aging.idaho.gov

The National Association of Area Agencies on Aging. (n4a) and the National
Council on Aging (NCOA) are committed to helping you gain information and
access to public and private benefit programs so that you can live with dignity
and independence for as long as possible. We developed the You Gave—Now
Save …

JFO Issue Brief Format Template – Vermont Legislature

legislature.vermont.gov

Dec 19, 2017 requirement, the federal Office of Management and Budget would be required to
issue a sequestration order to reduce federal spending for FFY'18 by $136 billion
.8 Entitlement programs such as Medicaid and Social Security are exempt from
sequestration. The amount that can be cut from the Medicare …