201111.02
Off
0

Medicaid Income and Asset allowances for 2012 increase!

After staying the same for two years, the community spouse resource allowance (CSRA) and the maximum monthly maintenance needs allowance (MMMNA) will increase for 2012, the Centers for Medicare and Medicaid Services just announced. The 2012 minimum CSRA is $22,728 and the maximum is $113,640. The new maximum monthly maintenance needs allowance is $2,841. The minimum monthly…

201110.27
Off
0

Medicare Part B Premium for 2012

Good News! Medicare’s monthly premium will be lower than expected next year. The basic premium for Medicare Part B will be $99.90 a month, only a $3.50 increase over the $96.40 a month that most beneficiaries have been paying since 2008. Here are the new Medicare figures for 2012: Basic Part B premium: $99.90/month Part…

201110.21
Off
0

IRS Announces Inflation Adjustments

The IRS announced that, for tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation. The Service provided the following details: The value of each personal and dependent exemption, available to most taxpayers, is $3,800, up $100 from 2011. The new standard deduction is $11,900 for married…

201012.07
Off
0

Tax Agreement Reached

President Obama announced yesterday a compromise “framework” to resolve the year-end standoff over the extension of Bush era tax cuts, unemployment benefits and other issues. House and Senate members will meet today to discuss the plan and a timetable for action. The compromise is reported to include the following: * Reinstate and extend the estate…

201011.23
Off
0

Medicare Finalizes Visitation Rights Rules

Medicare issued new rules for hospitals that protect patients’ right to choose their own visitors during a hospital stay, including a visitor who is a same-sex domestic partner. “Basic human rights—such as your ability to choose your own support system in a time of need—must not be checked at the door of America’s hospitals,” said…

201011.08
Off
0

Medicare Open Enrollment Begins

All of the changes to Medicare mean that open-enrollment is more important than ever. Most people won’t see a cost increase, but high-income folks will. Some people will need to make changes, but many will not have to. It is vital that you review your plan to determine if you do need to make any…