News
-
2020 Senior Cost Survey
The Part A deductible, however, is charged "per spell of illness" and it's feasible that you could have to pay it more than one time in a year should you require multiple hospitalizations the same year. .Rep. Allyson Schwartz's (PA-13) Medicare Physician Payment Innovation Act (H.R. 574) also gained support this week. One new cosponsor – Rep. Bruce Braley (IA-1) – signed on, bringing the total up to thirty-four. If signed into law, Rep. Schwartz's bill would repeal and replace the SGR, bringing increased stability to the Medicare program for both physicians and beneficiaries. .Did Members of Congress receive a COLA this year? If so did they get more than the 3.6% that seniors received? Is it true they don't pay into Social Security? … Continued
-
Judge Rules Hospitals Must Disclose Prices
Before the Affordable Care Act, seniors could deduct out-of-pocket medical costs that exceeded 7.5 percent of their Adjusted Gross Income (AGI). Starting in 2017, however, the law increases this threshold to 10% of a person's AGI – effectively lowering how much can be deducted at the end of the year and increasing how much seniors will pay in taxes. .Early this week, the Office of the Inspector General (OIG) for the Social Security Administration released a 10-year study that found nearly billion in overpayments to around 4 million enrollees in the Disability Insurance program. Approximately 45 percent of all disabled beneficiaries have been overpaid in the past decade, the report's authors concluded. .Misconceptions about Medicare coverage are very widespread. New beneficiaries and their families are frequently surprised when they learn what Medicare doesn't cover. Routine eye examinations, eyeglasses and lenses, hearing exams and hearing aids are among the services generally excluded from the core benefits covered by original Medicare. … Continued
Medicare supplemental or Medigap policies tend to charge higher premiums, but cover most or all of the co-insurance costs for brief hospitalizations or doctor visits and other Medicare covered services. Medicare Advantage plans generally work in just the opposite fashion. Currently premiums are very low, but there could be considerable out-of-pocket co-payment costs should you require health care services. .Notch Babies receive lower benefits than other seniors near to them in age with similar earnings histories. For example, in 2012, the average benefit of 95-year old Notch Babies was ,31Yet the average benefit of 96-year old seniors was ,390, a monthly difference of Under normal circumstances the benefits of retirees who are younger are usually slightly higher, because wages used to determine benefits tend to increase over time. This is not the case with people born during the Notch period. .Sources: Statement: Social Security Payments Go Paperless, Honorable Patrick P. O'Carroll, Jr., Inspector General, Social Security Administration, June 19, 2013. .However, the statisticians behind it at the University of Washington have since changed their methods, and they now estimate that doing away with social distancing measures could entail vast numbers of deaths, and that widespread mask-wearing in public could save tens of thousands of lives. .Additionally, in less than two years, the Social Security Disability Insurance trust fund will become insolvent, and approximately 11 million beneficiaries will be faced with a 20 percent cut in monthly benefits. Many lawmakers are hoping to divert funds from the retirement trust fund in order to address the funding shortfall, but according to our recent survey results, less than 1 percent of seniors support this method. Instead, TSCL will be advocating for policy solutions that would tighten the eligibility requirements for the Disability Insurance program and ramp up efforts to fight fraud, waste, and abuse. .That is why a bipartisan coalition in the House recently proposed two new bills to prevent "price gouging" for "taxpayer funded COVID-19 drugs" to ensure affordable pricing. .The "grandparent scam" has been around for a while, where a scammer poses as a relative, often a grandchild, in a desperate situation in urgent need of money. Due to the economic crisis created by the pandemic, the Federal Communications Commission has worked to raise the awareness of the grandparent scam. .(Washington, DC) – The percentage of retired households that expect to pay tax on their Social Security benefits has experienced a rare decline this tax season, but that appears to be due to a much higher level of uncertainty than usual ahead of this tax season according to a new survey by The Senior Citizens League (TSCL). "This could potentially mean lower than expected tax revenues for the Social Security and Medicare Trust Funds," says Mary Johnson, a Social Security and Medicare policy analyst for The Senior Citizens League .The Centers For Medicare and Medicaid Services (CMS) recently announced a bold new model to save money and improve healthcare quality by changing the way the government pays doctors. The Administration is taking steps to ensure that, by 2018, up to half of all payments to doctors won't be for visits and procedures, but rather for providing "high quality" care. The plan is to pay doctors on how they perform.
