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Obama's Debt Plan May Hit Your Retirement

Thursday, September 22, 2011 - 1:02 PM
From Personal Finance News from Yahoo! Finance
If you're wealthy or you receive Medicare, President Obama's proposal to cut the federal deficit could very well either raise your taxes or cut your benefits. There's no winning if you're both rich and a Medicare beneficiary.

WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
1. Thursday, September 22, 2011 - 1:21 PM
Even military retirees get hit with additional fees. The plan includes savings of $6.7 billion over 10 years by establishing "modest annual fees" for members of TRICARE-for-Life, which becomes a second-payer insurance to military retirees who transition to the federal Medicare program upon turning age 65. The change would begin with a $200 annual fee in fiscal 2013.
ShorebreakShorebreak2,700 posts since
Apr 6, 2010
Rep Points: 14,636