Budget Deficit
Definition of "Budget deficit"
Circumstance resulting when government expenditures exceed government income. To finance this difference, the United States Treasury will auction Treasury bills, notes, and bonds. In order to attract investors such as insurance companies, the Treasury will pay higher interest rates on the new issues, resulting in a decline in bond (already issued) prices and the increase in their rates.
Popular Insurance Terms
Method of reducing an employee pension according to IRS procedures: Offset method restricted to a DEFINED BENEFIT PLAN under which a mandatory percentage of the monthly Social Security ...
Plan wherein total withdrawal or income payments from tax deferred savings plans exceed $150,000 in any one year. An excess distribution tax of 15% of the amount greater than $150,000 must ...
Act designed to help reduce the federal deficit by approximately $496 billion over five years through a restructuring of the tax code. The following include some of the major provisions ...
For loss of an obligee in the event that the principal fails to perform according to standards agreed upon between the obligee and the principal. ...
Insurance policy under which payment is made for a loss not subject to any deductible or under which payment is made up to the limits of the policy, and then an excess insurance policy ...
Portion of company profits allocated by an employer, in good years, to an employee's trust. Contributions on behalf of each employee are expressed as a percentage of salary with 5% being ...
Contract that may or may not provide more in benefits than premiums paid. For example, with only one premium payment on a property policy an insured can receive hundreds of thousands of ...
Employee benefit insurance plan whose objective is to provide the retired employee with life insurance. This group life insurance product is composed of two basic parts: annually renewable ...
Insurance policies covering various business risks. ...
Comments for Budget Deficit
My mother is 101 years old and receives Medicaid and also $756 in SS. She has no assets except her house($50,000 when she dies can Medicaid recover anything
Apr 04, 2019 21:04:20Hi Marilyn! Since your mother is over 65 and has been receiving long term care financed through Medicaid, according to the Medicaid Estate Recovery Program, your mother's house could be used to repay some of her Medicaid benefits.
May 13, 2019 06:24:02Have a question or comment?
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