While Medicare is largely protected from the " fiscal cliff" cuts that could come at the beginning of next year, take note: largely doesn't mean completely.
The Takeaway: U.S. Retirement Assets Declining Again; Payroll Tax Deadlock Ends; World's Oldest Yoga Teacher
Americans' retirement assets lost a total value of $1.4 trillion last quarter, the first decline since the depths of the recession three years ago, according to a new report ... After initially rejecting the measure, House Republican leaders yesterday agreed to a two-month payroll tax cut extension"”and, with it, an extension of federal unemployment benefits and a temporary 'doc fix' ... And Bernice Bates, 91, has been named the world's oldest yoga teacher by Guinness World Records.
If Congress doesn't pass an extension bill by Jan. 1, payroll taxes will go up for 160 million workers, almost 2 million people could lose unemployment benefits and doctors could see a 27.4 percent pay cut from Medicare. But with the end of 2011 fast approaching"”and lawmakers already having left Washington for the holidays"”that's looking like less and less of a possibility.
If Congress doesn't act before January 1, doctors will see a 27.4 percent cut in their reimbursement pay from Medicare. And a new book from architect Wid Chapman and gerontologist Jeffrey P. Rosenfeld explores (in full-pictured glory) 33 examples of homes that have been designed with an eye toward aging in place.
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