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Disability And Medicare in trouble beginning 2016

The 11 million people who receive Social Security disability face steep benefit cuts next year — unless Congress acts, the government said Wednesday.

The trustees that oversee Social Security said the disability trust fund will run out of money in late 2016, right in the middle of a presidential campaign. That would trigger an automatic 19 percent cut in benefits.

The average monthly benefit is $1,017.

The report said the fund faces “an urgent threat” that requires prompt action by Congress.

There is an easy fix available: Congress could shift tax revenue from Social Security’s much larger retirement fund, as it has done in the past.

President Barack Obama supports the move. But Republicans say they want changes in the program to reduce fraud and to encourage disabled workers to re-enter the work force.

Want to Be Ready for Retirement? Lower Expectations

The trustees said the retirement fund has enough money to pay full benefits until 2035, a year later than last year’s report. At that point, Social Security will collect enough in payroll taxes to pay about 75 percent of benefits.

If the retirement and disability funds were combined, they would have enough money to pay full benefits until 2034, the trustees said.

Advocates for seniors say that gives Congress plenty of time to address Social Security’s long-term problems, without cutting benefits. But some in Congress note that the longer lawmakers wait, the harder it gets to address the shortfall without making significant changes.

Medicare’s giant hospital trust fund is projected to be exhausted in 2030. At that point, Medicare taxes would be enough to pay 86 percent of benefits.

Medicare is adding 10,000 new beneficiaries a day as baby boomers reach age 65. But so far the demographic shift has not overwhelmed the program with costs because, for the most part, boomers are healthier than the older generations of Medicare beneficiaries. That has a positive impact on the bottom line, helping to hold down per-beneficiary costs.

Source: Social Security’s disability fund to run dry in 2016; Medicare premiums may rise for some | Fox Business

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Credit_Card_Fraud

Avoiding Credit Card Fraud

Credit card fraud is becoming more and more of a problem, and if you are not careful then you could lose money to fraudsters. If you are worried about fraud but are unsure how you can protect yourself and your credit cards, then this article could help you. Here are some useful tips and advice about how to protect yourself from credit card fraud:

Credit_Card_FraudMethods of fraud

The methods and types of fraud are increasing as criminals learn new techniques and get improved technology. The most common methods of fraud today include:

Copying and ‘cloning’ of cards

ATM fraud

Internet card fraud

PIN number stealing

All of these methods are used more commonly than ever before to effectively steal your money. Obviously, it is impossible to totally eliminate the problem of credit card fraud, but there are things you can do to greatly reduce the risks.

Keep cards close

Make sure that you never let your cards out of your sight. Never leave cards unattended, and certainly don’t lend your card to anyone. If you are paying in a restaurant or shop, make sure you pay attention as to where your card is. A common method used to copy your card is to get the details whilst you pay, so keep an eye on your card at all times.

Check receipts

Whenever you get a receipt or a credit card bill, check that all the items and amounts are correct. If there are any amounts that you are unsure about, contact your card issuer immediately. Any paperwork that you throw away should be disposed of properly. Shred documents so that people cannot go through your rubbish and discover your card details.

Look behind you

When withdrawing money from a cash machine, make sure no one is looking over your shoulder to read your PIN. The easiest way for someone to use your card illegally is to see your PIN and then steal the card. Also, make sure you never keep a written record of your PIN, especially near your cards.

Use reputable firms

When buying on the Internet, make sure that you only purchase items from large and well-established providers. Small or unknown providers should be avoided as even if they are genuine, their security and encryption may be poor and allow fraudsters to access your details.

Keep contact numbers

If you have your card stolen or you think you have been the victim of credit card fraud, then you need to sort the problem out as quickly as possible. Keep all the contact numbers for your card issuer in a safe place so that you can call them up and sort out problems immediately. If you are careful and act quickly, you can limit the damage of fraud or prevent it occurring at all.

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