Congress passes a budget bill late last week that President Obama is expected to sign.  The good news is that the budget deal will prevent almost a 50% increase in Medicare premiums for 30% of Medicare beneficiaries.  The premiums increase will be prevented by the federal government receiving a loan from the Treasury.  Medicare beneficiaries will repay the loan by an added monthly premium of $3.00 over the next several years.

However, the budget deal also will have significant negative consequences on future Social Security payments, potentially significantly reducing future benefits.  Click on the below article for a discussion of these potential negative impacts.

Changes to Social Security Claim Strategies

About Jerry

Jerold E. Rothkoff, a practicing New Jersey and Pennsylvania attorney, is the Principal of the Rothkoff Law Group, an elder care law firm. Jerry dedicates his practice to serving clients in the areas of life care planning, long-term care planning, Medicaid & VA benefits, and advocacy for the elderly and disabled. He is past President of the NJ Chapter of the National Academy of Elder Law Attorneys, former chair of the elder law section of the NJ State Bar Association, and past President of the Life Care Planning Law Firm Association. Jerry continues to be an outspoken advocate for the rights of the elderly and disabled. He writes for and gives presentations regularly to attorneys and other professionals about legal issues related to seniors and those with disabilities. Jerry’s community activities include the Twilight Wish Foundation, the Delaware Valley Stroke Council, the Alzheimer’s Association, as well as numerous other advocacy groups. When not in the office, Jerry spends time with his wife, Erica, and their five children, eighteen-year old identical twin girls, Liza and Julia, fifteen-year old fraternal twin boys, Evan and Gregory, and six-year old Aitan.

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