President Joe Biden, who has pledged to bolster such federal programs as Medicare and Social Security, has announced a proposal to fund Medicare through the year 2050.
Once Medicare kicks in, we may assume our medical insurance premiums will be fixed. However, many people don’t realize there are special rules regarding how much they pay for Medicare Parts B and D if they are in a higher income range.
Are you a taxpayer who has purchased long-term care insurance? Take note of your policy details and your premium amount, as you may be able to deduct the cost – or at least part of it – from your 2023 income.
Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct.