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Gainesville Florida Estate Planning & Elder Law Blog

Monday, January 29, 2018

No Medicare Cuts in 2018

 

As the new tax law was being considered in Congress late last year, there were legitimate concerns about the impact the legislation could have on Medicare.

In fact, the legislation that was passed had the potential to include a $25 billion cut to Medicare. But that changed when the House and Senate recently voted to waive the required cuts as part of the temporary spending bill approved a few weeks ago.

That means Medicare will continue to cover the approximately 56.8 million people it has been covering, including 47.8 million age 65 and older.

Additionally, Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan have pledged there will be no Medicare cuts of any kind in 2018.

However, with Medicare, Social Security and Medicaid among the largest federal government programs, and reducing government spending a priority for this Congress, people need to remain vigilant about the future.



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