Obama's Budget Proposals and Your Wallet | Next Avenue: "President Barack Obama’s budget proposals are a mix of good news and bad news for older Americans.
The good news: You would save money if you have big pharmaceutical bills and fall into what’s known as the “doughnut hole” of the Medicare Part D prescription drug plan, out-of-pocket costs that aren’t covered by Medicare.
The bad news: You would get a smaller-than-expected Social Security retirement check and pay more for premiums in Medicare Part B, the portion that pays doctor’s bills for people 65 and older.
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