anyone else sweating?

[palomalou]

I'm 57, but Beloved Spouse is 54, with a birthday in April. So I'm safe from whatever may happen with SS and Medicare, but just hoping that if they make changes, they will need more than 3 months to hammer it all out.
Any huge changes could in fact derail our plan. I'd postponed retirement at least until 2013 to see what the presidential election might imply.

[RetireBy90]

Quote:

Originally Posted by palomalou I'm 57, but Beloved Spouse is 54, with a birthday in April. So I'm safe from whatever may happen with SS and Medicare, but just hoping that if they make changes, they will need more than 3 months to hammer it all out. Any huge changes could in fact derail our plan. I'd postponed retirement at least until 2013 to see what the presidential election might imply.

Im 56 and DW is 59, I'm convinced any impact on SS for us at this point would be in taxing more of the monthly checks. Everything I've heard would grandfather (pun intended ) in those over 55. Then take into account it would take another year or more to agree on anything, probably include anyone over 52 or 53 today.

Gotta plan on something, worst case maybe a 10% cut ?

[haha]

I do not understand your post. At first I thought it was about hot weather or middle age hormone changes; now I know it has something to do with SS.

What?

Ha

[samclem]

Quote:

Originally Posted by palomalou I'm 57, but Beloved Spouse is 54, with a birthday in April. So I'm safe from whatever may happen with SS and Medicare, but just hoping that if they make changes, they will need more than 3 months to hammer it all out. Any huge changes could in fact derail our plan. I'd postponed retirement at least until 2013 to see what the presidential election might imply.

SS: I'm not aware of any presidential candidates talking about changes to SS.

Medicare: Because you gave dates, I assume your post is in response to the Romney/Ryan proposal. First--regardless who is elected, Medicare must change. In fact, without the "doc fix" (a change -- that we do every year), Medicare payments to physicians will be cut about 27% next year and many will simply stop seeing Medicare patients. If the Romney/Ryan plan were to be enacted exactly as it has been described (unlikely), those over 55 (effective what date?) would stay on the present Medicare and those younger than 55 would have the option to stay on it, or they could opt to get a govt check to use in buying a private insurance policy.

Medicare as it is presently configured is unsustainable--almost everyone agrees. President Obama has proposed cuts to those who provide services under Medicare, but no cuts in the benefits that recipients are authorized to receive. The question is: Will recipients find doctors, hospitals, etc willing to provide services at the new lower rates?

FWIW, I think it's great the country is talking about the issue--few things are more important to retirees, and to taxpayers. I just wish we could do it in an intelligent way rather than via 30 second attack ads on TV and glancing unsubstantiated quips in stump speeches (and that goes for both sides).

[frayne]

Quote:

Originally Posted by palomalou I'm 57, but Beloved Spouse is 54, with a birthday in April. So I'm safe from whatever may happen with SS and Medicare, but just hoping that if they make changes, they will need more than 3 months to hammer it all out. Any huge changes could in fact derail our plan. I'd postponed retirement at least until 2013 to see what the presidential election might imply.

Not sweating here and no need to worry about our government hammering out anything in three months, except for their pay raises.

Seriously though, it will take a long time for any changes to SS to be agreed upon and probably longer to take effect. If you are 55 or older, I don't think you have anything to worry about. Just my opinion and your mileage may vary.

As far as changes to Medicare, your guess is as good as mine.

[pb4uski]

Quote:

Originally Posted by samclem ....Medicare as it is presently configured is unsustainable--almost everyone agrees. President Obama has proposed cuts to those who provide services under Medicare, but no cuts in the benefits that recipients are authorized to receive. The question is: Will recipients find doctors, hospitals, etc willing to provide services at the new lower rates?

I think it will become increasingly difficult to find providers.

Quote:

Originally Posted by samclem ....FWIW, I think it's great the country is talking about the issue--few things are more important to retirees, and to taxpayers. I just wish we could do it in an intelligent way rather than via 30 second attack ads on TV and glancing unsubstantiated quips in stump speeches (and that goes for both sides).

+1 It is clearly a problem that needs to be addressed in that the status quo is a recipe for disaster. IMHO Mr. Ryan has been one of the few adults in the room in that he had the courage to propose something and then was willing to listen to others and agree to changes (with Mr. Wyden).

[MichaelB]

This could be an interesting discussion if we keep the politics out.

[Alan]

Quote:

Originally Posted by MichaelB This could be an interesting discussion if we keep the politics out.

+1

[pb4uski]

Quote:

Originally Posted by MichaelB This could be an interesting discussion if we keep the politics out.

Yeah, good luck with that.

[Alan]

Quote:

Originally Posted by pb4uski Yeah, good luck with that.

Fair enough.

Thanks folks, as you can see we won't be able to stop this thread going off the rails so we'll close it now.