|
|
What to Know for Friday, April 10, 2026: |
1: The Iran war the means government can't afford Medicare — but payroll taxes fund most of it |
 |
(Image Credit: AP Images) |
|
Real problem: rich don't pay fair share into Social Security: Social Security faces a 19% shortfall in 2034 mainly because the wealthy have captured a larger share of income since the late 1970s but don't pay payroll taxes on income above $184,500 — a RAND study found if income distribution had stayed like the 1950s-60s, payroll tax revenue would exceed the $250 billion annual deficit. Solution: uncap payroll tax and tax capital income: Removing the $184,500 payroll tax cap would bring in $3.2 trillion over a decade — and taxing income from capital (the richest 1% hold $54 trillion in assets) at the same rates as wages would keep Social Security solvent while meeting other needs. Young people still support Social Security despite fears: Polling shows young voters continue supporting Social Security and Medicare and "never bought the arguments for privatization" — as they reach middle age, support grows even stronger, making "tax the rich to save social insurance" smart politics that splits Republicans.
|
➜ Read the full article from The American Prospect here. |
|
|
2: Social Security has never missed a payment in 86 years — but 2032 insolvency could mean 28% cuts |
 |
(Image Credit: Getty Images) |
|
Insolvency doesn't mean benefits stop entirely: When trust funds run dry around 2032, Social Security will still collect payroll and benefit taxes that cover most costs — but without action, the Congressional Budget Office says benefits would drop 7% in 2032 and average 28% lower between 2033-2036. 28% cut would slash average check to $1,495/month: The current average monthly benefit of $2,076 would fall to about $1,495 under automatic cuts — a huge blow especially for seniors who rely heavily on Social Security, though far better than losing checks entirely. Fix will likely require tax increases: Social Security faced similar problems in the 1980s and the government modified it to continue full payments — solutions this time will probably mean raising payroll taxes, eliminating the $184,500 income ceiling to tax the wealthy more, or increasing benefit taxes on seniors.
|
➜ Read the full article from the Motley Fool here. |
|
|
|
|
3: Trump administration finalizes 2.48% Medicare Advantage payment hike — much better than feared 0.09% |
 |
(Image Credit: Reuters) |
|
Insurers dodged a bullet on payment rates: The government will increase average Medicare Advantage payments by 2.48% (over $13 billion) in 2027 — far higher than the proposed 0.09% hike floated in January that had pummeled health insurer stocks. Stock prices surged on the news: UnitedHealth and CVS Health shares rose more than 9% in after-hours trading Monday, while Humana jumped around 12% — the higher payments help insurers offset rising medical costs from delayed post-pandemic care and expensive GLP-1 drugs. Could mean lower premiums and out-of-pocket costs: Sufficient government payments allow plans to keep premiums low for seniors and reduce patient costs, which attracts and retains members — CMS Administrator Dr. Oz said the updates "keep coverage affordable and ensure patients get real value from their plans."
|
➜ Read the full article from CNBC here. |
 |
|
Free Medicare Help with Chapter |
90% of American seniors are on the wrong Medicare plan. Thankfully, Chapter is here to help! They can help you switch to the right plan and save $$$. Chapter saves the average senior $1,100 per year! Plus, it is 100% risk-free! Give them a call to find out how much you could save: 539-205-2147. |
askchapter.org/insider |
|
|
|
|
|
Here’s What You Missed on YouTube: |
Check out our new YouTube videos for Friday, April 10th. |
Your EBT Card Is Changing in 2026 — Here's What It Means for Your Benefits |
 |
Your EBT Card Is Changing in 2026 — Here's What It Means for Your Benefits |
|
|
|
|
|
|
Retirement Navigator Podcast |
🎙️ Episode #6: Rethinking Retirement — Income, Purpose, and “Unretirement” featuring journalist and podcast host, Richard Eisenberg |
Retirement Isn't What It Used to Be — And That Might Be a Good Thing |
What if retirement didn't mean stopping completely? In this episode of Retirement Navigator, Kwame sits down with Richard Eisenberg — one of the most trusted voices in personal finance — to talk about "unretirement," Social Security timing, Medicare pitfalls, and how to make your money last through a retirement that could span 40 years. |
If you're 55+ and wondering whether your plan is solid, this conversation is exactly what you need to hear. |
👇 Hit play now & be sure to subscribe: https://www.youtube.com/@TheRetirementNavigator |
 |
Episode 6: Rethinking Retirement: Income, Purpose, and “Unretirement” |
|
|
|
|
The Daily 3 Deal List—Week of April 6th |
|
|
This newsletter is for information only. Always confirm your options directly with Social Security, Medicare, Medicaid, or a qualified advisor before making big decisions about your benefits. |
*View our Advertising Disclosure |
|
No comments:
Post a Comment