What Does the One Big Beautiful Bill Mean for Medicaid? Part 2
In my blog post last week, I reviewed some of the changes to Medicaid contained in the One Big Beautiful Bill (OBBB) that was signed into law earlier this month.  These changes are specific ones, such as imposing a work requirement for some Medicaid recipients (doesn’t apply to those receiving long
Potential Impact of Medicaid Cuts (Part 3)
In this 3rd post of 3 I discuss the potential impact of cuts to Medicaid being considered by Congress and the President.  Last week I explained that specific changes, such as imposing a work requirement, are directed towards Medicaid recipients receiving Medicaid health benefits.  They would not apply to those people receiving
Potential Impact of Medicaid Cuts (Part 2)
In my blog post last week, I began a discussion about the possible impact of cuts to Medicaid.  This past week the House of Representatives approved a bill that among other things, reduces the federal outlay for Medicaid by almost a billion dollars.  The bill now goes to the Senate where some
Potential Impact of Medicaid Cuts (Part 1)
With so many significant changes being proposed, some which have already occurred in the first months of the new Congress and presidential administration, a question I am increasingly being asked by clients and prospects who are or may in the future apply for Medicaid is, “will there even be Medicaid
The Future of Medicaid
It is a question I am being asked with increasing frequency when people call our office about needing Medicaid now or planning for the possibility of needing it in the future.  “Will there even be Medicaid coverage if and when I need it?”  Specifically, I am talking about the Medicaid programs that
2025 Medicaid Numbers
In a blog post in October, I updated you on some of the new Social Security and Medicare numbers for 2025.  The recently announced cost of living adjustment (COLA) of 2.5% follows a 2024 increase of 3.2%. Many other federal programs are tied to the Social Security COLA. These include Medicaid and the
2025 Social Security Cost of Living Adjustment
When we get to the end of the year, it’s time to look ahead to what numbers may change in 2025 for the government programs from which our clients receive benefits.  It starts with the Social Security Administration, which announces its cost of living adjustment (COLA).  Other government programs then adjust their
Social Security Benefits and Taxes (Part 2)
In last week’s post I talked about Social Security.  I specifically focused on how, for many Americans, Social Security benefits are the sole source of income but most of these benefits are subject at least in part to income tax.  That is the case for a single person who has more than
Social Security Benefits and Taxes (Part 1)
Social Security benefits are the primary source - and in some cases the sole source - of income for a majority of Americans.  Many Americans have little to no retirement savings.  Company pension plans have become rare and even when available, most people do not stay with a single company long enough
The SECURE Act’s 10 Year Rule (Part 2)
In last week’s post, I wrote about the SECURE Act, specifically the change that for most beneficiaries does away with the ability to stretch out the time period by which funds must be withdrawn from these accounts.  This change will affect most children who inherit retirement accounts from their parents.  Being 25