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On February 14, 2015, Posted by , In Home Care, By ,,, , With Comments Off on Home Care Services in Sterling Heights, MI

Debt-Ceiling Compromise Spares Seniors’ Programs–For Now

In the debt-ceiling bill that passed Congress and was signed by President Obama, several programs of interest to caregivers will be protected—at least for now. The programs include Social Security, Medicaid, veterans’ benefits and pensions, civil and military pay and programs for women, infants and children.

However, Medicare payments to doctors, hospitals and other health-care providers will be cut no more than 2%, the Los Angeles Times reported.

The compromise does not raise taxes, and cuts spending by $917 billion starting in October. Borrowing authority would increase by $400 billion now. The deal then raises the debt ceiling by another $500 billion around Thanksgiving, but it will have several conditions, including the creation of a new bi-partisan Congressional committee charged with reducing the federal deficit by up to $1.5 trillion over the next decade. These spending cuts could focus on Medicare, the Medicaid health program for the poor and disabled, farm subsidies and federal retirement programs, according to the Associated Press.

If the committee can’t reach an agreement or its recommendations aren’t passed by Congress, automatic spending cuts split between domestic and debt spending would begin in 2013.
Source: agingcare.com

Contact Pure Home Care Services at (586) 293-2457 today! If you live in Sterling Heights or the surrounding area, we can help you care for your loved ones.

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