News
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Ask The Advisor Aprilmay 2013
Perhaps the single biggest difference between Ponzi schemes and Social Security is you and your vote. Voters have a tremendous influence in the choices that elected Members of Congress make to ensure that the program remains sound today and in the future. Social Security has been in continuous operation since 193Ponzi's scheme lasted barely 200 days. .My pulmonologist ordered a CT scan, but the person scheduling appointments said they first had to check my insurance. Is this correct? I'm covered by Medicare and a Medicare Advantage plan. I thought I would be covered for any medically necessary CT scan. .Alexandria, V An overwhelming majority of seniors oppose two Medicare changes that are among the most widely - discussed reforms in Congress, according to a new survey by The Senior Citizens League (TSCL). Eighty-one percent of seniors strongly oppose a proposal that would impose a significantly higher annual deductible while restricting supplemental Medigap plans from covering the cost. Only 1 percent of those responding favored the idea. Seventy - four percent also strongly oppose replacing Medicare with a premium support system of private health plans, and giving beneficiaries a premium subsidy or voucher to shop for a new health plan. Just 5 percent said they favored this idea. "Both plans shift costs to seniors, something the vast majority can ill afford," says TSCL Chairman Ed Cates. … Continued
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H R 5772 Beneficiary Enrollment Notification Eligibility Simplification Benes Act
Participants in The Senior Citizens League's surveys indicate that household medical expenses consume a significant portion of their monthly income. More than 39 percent of respondents to a recent survey say that they spend more than 0 per month on Medicare and other healthcare costs. In 2020, the average Social Security benefit is ,460, but the 1.6 percent COLA raised the average Social Security benefit by only .40 per month this year. The following chart illustrates ten of the fastest growing retiree costs since 2000. .This week, one new cosponsor – Rep. David Loebsack (IA-2) – signed on to the Preventing and Reducing Improper Medicare and Medicaid Expenditures (PRIME) Act (H.R. 2305). The total is now up to sixty-two. If signed into law, the PRIME Act would take a number of steps to comprehensively prevent fraud, waste, and abuse within the two programs – a problem that TSCL believes must be addressed in order to ensure that scarce program dollars are being spent properly. .Carefully protect personal information, including your full name, address, bank account, and Social Security numbers. Never give that information out to unsolicited callers. … Continued
There are new federal rules that require hospitals to post their pricing information online in order to give patients the information they need to make decisions about their health care. But it turns out that some large hospital systems have been using codes that prevent that information from appearing in online search results. .However, it remains unclear if lawmakers will be able to successfully negotiate an omnibus before the December 11th deadline. Many in Congress are hoping to attach language to the spending measure that would block funding for an immigration executive order that President Obama is set to announce in the coming weeks. Sen. Barbara Mikulski (MD), Chairwoman of the Appropriations Committee, called the request a "deal-breaker," and said that it would likely result in a veto from President Obama. .TSCL opposes these cuts for a number of reasons. Medical practices in particular have been hurt by the pandemic and should not have to face lower Medicare reimbursements. .In addition, two new cosponsors – Congressmen Jim Langevin (RI-2) and Gregorio Kilili Camacho Sablan (MP) – signed on to the Protecting and Preserving Social Security Act (H.R. 3302), which was recently introduced by Congressman Ted Deutch (FL-22). If adopted, his bill would base the COLA on the CPI-E and cover the cost by removing the Social Security payroll tax cap for high earners. H.R. 3302 now has nine cosponsors in the House. .Traveling through the beautiful farmlands of early primary states, you can find the self-proclaimed champions of socialized medicine amid the flashes of cameras on the campaign trail. If you keep driving through, you'll see the harsh reality beyond presidential candidate photo-ops. You'll see the more than 100 rural hospitals that have closed in the United States since 2010, including two in my district in the last year alone. .There are two types of U.S. debt: debt held by the public, like U.S. savings bonds, and debt held by government accounts. The Social Security Trust Fund is the single biggest government account holding U.S. debt, with the federal government owing the Trust Fund about .8 trillion. Since 2010, the program has paid out more in benefits than it receives in cash revenues, requiring the U.S. treasury to borrow to pay the interest due on the non-marketable bonds or I.O.U.s held by the Trust Funds — money that is needed to pay the benefits of current beneficiaries. According to a recent TSCL poll, 95 percent of older voters say that money owed to the Social Security Trust Fund should be repaid in full. .Nevertheless, Congress is considering ways to "redesign" Medicare. The Congressional Budget Office (CBO) estimates that changing the cost-sharing rules for Medicare and restricting Medigap coverage would save the federal government 4 billion over the next ten years.[1] Medicare supplements, better known as Medigap, cover Medicare's deductibles and other out-of-pocket costs. The plans are popular with seniors because they provide financial certainty by reducing unexpected out-of-pocket expenses. .The chances for legislation remain strong as more experts say older seniors need a benefit boost to protect them from outliving their retirement resources. Your continued support, letters, and phone calls to Members of Congress make all the difference in building co-sponsorship. TSCL has been instrumental in building support for the Notch Fairness legislation and remains committed to passage. .TSCL supports H.R. 4012 enthusiastically, and we were pleased to see two new cosponsors sign on to it this week. We will be advocating for the passage of H.R. 4012 and S. 2251 – Sen. Elizabeth Warren's (MA) companion bill – tirelessly in the coming months because we know that a 3.9 percent COLA would provide much-needed relief to our members and supporters next year.
