Benefits for Seniors Reduced

Benefits for Seniors Reduced

The Bipartisan Budget Act of 2015 imposes a Medicare surcharge, while closing a perceived Social Security loophole

Seniors may have a harder time making ends meet this year, thanks to increased premiums for Medicare, as well as the closing of a perceived loophole in Social Security that allowed seniors to take advantage of the file and suspend strategy. Individuals with disabilities fared better due to the Achieving a Better Life Experience Act (the ABLE Act); funds in these designated ABLE accounts can accumulate tax-free. Practitioners who advise clients on special needs planning now

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