Thursday, February 16, 2012

Medigap Tax

Washington isn't satisfied to take from the rich, now they want the gray panther's to pay their "fair share" as well.

The Obama administration wants to raise $2.5 billion over 10 years by imposing a surcharge on Medicare enrollees who buy “near first-dollar” Medicare supplement insurance.

The surcharge would affect enrollees who use Medicare supplement insurance, or Medigap coverage, to fill in the coverage gaps left by the Medicare Part A hospitalization insurance program and the Medicare Part B physician services and outpatient services insurance program.

The government would collect the surcharge by adding an amount equal to about 15% of the average Medigap policy premium onto a Medigap policy owner’s Medicare Part B premium.

That's the bad news.

The good news is, if passed, it won't affect anyone currently under age 60.

Better news.

This is in Obama's proposed budget which stands no chance of passing.

But if you are under age 60, remember this when you vote this November.

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