If you have a pension coming to you when you retire, it could affect your taxes in the future. The biggest problem would be that you put a lot of your retirement money into tax-deferred accounts. As a result, it means that you will have to pay taxes on that money when you withdraw it,…
Your Pension Could Become a Retirement Tax Bomb
May 9, 2023
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Beverly Hills Plastic Surgeon to Pay Nearly $24 Million to Settle Allegations
May 1, 2023
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LOS ANGELES—A Beverly Hills plastic surgeon, his son, medical practices and billing company have agreed to pay $23.9 million to resolve allegations that they violated federal law by submitting or causing the submission of false claims to both Medicare and Medicaid, officials announced April 28. The settlement resolves allegations that Dr. Joel Aronowitz, Daniel Aronowitz,…
Australian PM Unveils New ‘Patient ID’ System as Part of Medicare Overhaul
A new patient enrolment system designed to help both the government and doctors better understand why people go to emergency departments has been unveiled by the Albanese government. This follows a report by the Australian Medical Association (AMA), which found emergency wait times were at record levels in almost 30 years. The new “My Medicare…
‘Still Nothing’: Pharmacy Guild Says Australia’s Half-Price Medicine Scheme Will Add to Shortages
April 25, 2023
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The head of Australia’s pharmacy peak body has called the federal Labor government’s latest decision to subsidise medicine “smoke and mirrors” amid the ongoing cost of living crisis. Health Minister Mark Butler revealed on April 26 that the government is making “hundreds of common medicines cheaper” by allowing Australians to double the amount of medicine…
Whistleblowers Tell Supreme Court Pharmacy Chains Should Pay for Alleged Fraud
The Supreme Court seemed open on April 18 to revive whistleblower lawsuits against pharmacy operators SuperValu and Safeway for allegedly submitting false Medicare and Medicaid reimbursement claims for prescription drugs they sold. The case is considered to be important because it could have an impact on the government’s ability to crack down on health care fraud. The…
Will You Face a Tax Bomb in Retirement?
Good savers, beware. The money you’re stuffing into your 401(k) and other retirement accounts has to be withdrawn someday. If you’re not strategic about how you save, you could face unnecessarily high tax bills and inflated Medicare premiums in retirement—plus, you could be saddling your heirs with higher taxes. The earlier you start defusing this…
Medicare ‘Not Fit for Purpose’: Taxpayers Forking up to $3 Billion a Year for Administration Errors
Australia’s universal healthcare system, Medicare, is no longer fit for purpose because of its complexity, lack of clarity, and lack of continuous monitoring, an independent review has found. Commissioned by Health Minister Mark Butler in response to reports of widespread rorting and fraud, the review by health economist Pradeep Philip found that Medicare was bleeding…
Deficits Forever and Ever
March 24, 2023
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Commentary President Joe Biden’s budget predictably has sparked intense debate. Opinions on overall spending, taxes, equity, and deficits fill financial columns. To see what is happening to the nation’s finances, it helps to step away from these politically motivated criticisms and praise of the president’s proposals and instead look at the basic structure of government…
‘Woke, Weaponized, Wasteful’ Spending Is Main Target of House GOP as Budget Battle Heats Up
March 22, 2023
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House Republican Conference Chairman Elise Stefanik (R-N.Y.) didn’t hesitate a second when asked during the GOP congressional retreat in Orlando March 20 by Punchbowl co-founder Jake Sherman how she and her colleagues “can balance the budget without touching entitlements and mandatory spending” in 2023. “I believe that when we focus on Social Security and Medicare,…
27 Drugs Will Be Cheaper for Medicare Recipients From April
March 16, 2023
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Some beneficiaries of Medicare could start paying less for 27 prescription drugs from next month as their prices have exceeded the rate of inflation. “Today, the Department of Health and Human Services [HHS], through the Centers for Medicare & Medicaid Services (CMS), announced 27 prescription drugs for which Part B beneficiary coinsurances may be lower…
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