What the 'Sequester' Could Mean for You. How the Budget Cuts Will Affect Social Security, Medicare and More

(0 comments)

by Kim Keister

In Spanish | Here we go again: Congress and the White House simply can't get past their budget differences.

At this point, the nation is no longer facing a single trigger point that would unleash economic calamity. Instead, with no deal in sight, we face a series of them:


  • March 1 — The "sequester" — a very large remnant of the deal that averted the "fiscal cliff" at the beginning of the year — kicked in and could cut a whopping $85 billion from military and domestic programs this year.

  • March 27 — Funding to continue running the country expires, meaning the government shuts down.

  • May 18 — Uncle Sam again hits the debt ceiling, meaning we can't borrow more money. Come July or August, we'll be facing default.


The most pressing question right now: What impact will the sequester have? No one really wants these cuts, but neither has anybody come up with the silver bullet to stop them.

So here's what you should know:

I'm on Medicare. What happens to my benefits?



Good news. No change in Medicare benefits, including Part D low-income premium and cost-sharing subsidies and catastrophic subsidy payments.

Will Medicare pay my doctor for my visit?
Yes, your doctor will still be paid, but not quite as much. Like all Medicare providers, doctors will take a 2 percent cut in payments. That won't please the docs, but let's hope it isn't enough to make yours — or any of them — drop Medicare patients.

Will anything happen to my Social Security payments?
No worries here either. Social Security and disability payments were exempt from the budget cuts. On the other hand, the Social Security Administration might reduce services to the public, close some offices and watch its already epic backlog of disability claims grow even bigger.

Click to read more.


 

 

Comments

There are currently no comments

New Comment

required

required (not published)

optional

required

required

Disability Network Northern Michigan

415 E. Eighth St.
Traverse City, MI   49686

Phone: (231) 922-0903

Accessibility Statement

Disability Network Northern Michigan is committed to making its website accessible to the widest possible audience. This website has been developed to comply under Section 508 of the Rehabilitation Act, which was enacted to eliminate barriers to information technology, to make available new opportunities for people with disabilities and to encourage the development of new technologies to help achieve these goals. This law requires that all individuals with disabilities have access to information and data comparable to that which is available to individuals without disabilities.

DisabilityNetwork.org is regularly monitored to ensure that it meets the requirements of Section 508, along with the best practices outlined by the W3C’s (World Wide Web Consortium’s) Web Accessibility Initiative, specifically WCAG (Web Content Accessibility Guidelines) Level A Compliance. We are diligently working to reach and maintain a higher standard of accessibility, which is Level AA Compliance of W3C’s WCAG standards. Because technology changes rapidly, this is an ongoing process.

If you experience any accessibility issues in relation to this website, please contact us. Let us know which page or item you need help with and we will provide a solution that works for you within a reasonable period of time. Questions, comments or complaints about the accessibility of our website, videos or documents can be sent to info@disabilitynetwork.net.