The Coming Generational Storm written by Laurence Kotlikoff and Scott Burns is now available online. It is one of the earlier works that really brought the issue of Social Security and Medicare funding over the next 50 years to the fore.  The punchline is that at some point either benefits must be cut, taxes raised [...]

The additional liability incurred by adding prescription drugs to Medicare dwarfs the total liabilities for Social Security. This makes it clear that Social Security reform is not where the big action is going to be over the next 40 years. Medicare is going to be the major battleground. Much like the baby boomers remade the [...]

Beginning Nov.15, it’s time once again for Medicare beneficiaries to decide if a Medicare Part D plan is right for them, and if so, which plan they will choose. The 2007 enrollment period, which runs through Dec. 31, also allows those who already have a Medicare Part D plan to choose a different plan if [...]

Starting January 1, 2007, Part B Premiums will be Based on Your Income (Details) You Pay If Your Yearly Income is Single Married Couple $93.50 $80,000 or less $160,000 or less $105.80 $80,001-$100,000 $160,001-$200,000 $124.40 $100,001-$150,000 $200,001-$300,000 $142.90 $150,001-$200,000 $300,001-$400,000 $161.40 Above $200,000 Above $400,000

Medicare has updated their website to reflect 2007 options. Remember open enrollment starts Nov 15th.

The Deficit Reduction Act of 2005 now makes this partnership program available to all states with 21 states already having enacted legislation to go into effect in 2007. The AARP article goes through the pitfalls of the program (it is not a panacea). Four states, California, Connecticut, Indiana and New York, piloted LTC partnership programs [...]