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  • Medicare Hospital Insurance Trust Fund Near Insolvency

    Depending on your health, it might be to your advantage to start unemployment benefits and delay taking Social Security right away. Allow several months to search for a new job. The longer you can postpone starting Social Security, the higher your benefit will be. In addition, should you find a good job and start working again, your Social Security benefits could be reduced by excess earnings. If you are under your full retirement age you may earn ,480 in 2014 (,290 per month) before Social Security would withhold in benefits for every over that amount. ."Americans face major retirement challenges," Johnson says. The Senior Citizens .Make a list of contact information for family members, close friends, health providers or anyone who calls regularly so you know the call is legitimate. … Continued

  • Drug Company Ceo Discusses Lowering Drug Prices

    As we said above, the devil is in the details. Rather than signing four "executive orders," the only real executive order was the one on housing. The other three actions are marked as "memorandum," which carries less authority. .Planning healthcare costs is extremely important, but not an easy task. According to the Kaiser Family Foundation, healthcare expenses, on average, accounted for nearly 15 percent of Medicare household budgets in 200But even if you're in good health today, you're not out of the woods. The amount you spend on healthcare not only grows every year, but your need for more healthcare services increases with age. ."That combination elevates the risk of disruptions to care, and unexpected, uncovered costs — two problems that could plague seniors shifted to new managed-care plans," Hyland says. Most states are expected to "passively enroll" beneficiaries into the plans requiring beneficiaries to take the initiative to opt out. "It is too early to know what type of choices those wishing to opt out will have," Hyland notes. "Without a strong notification and education process, many of the affected dual eligibles may not be aware, or understand, that they have new health coverage, " he says. "A new health plan can mean a change of doctor if their former providers don't participate," Hyland explains. … Continued

When working Social Security recipients who are younger than full retirement age earn more than the annual earnings limit amount, their benefits will be reduced. The Social Security Administration likes to point out that these benefit reductions are "not truly lost because your benefit will be increased at your full retirement age to account for benefits withheld due to earlier earnings." But as you have discovered, you can sometimes wind up owing money to Social Security that was not withheld properly. .The President's proposal is likely to increase the already-escalating tension between the drug industry and his administration. The new order comes on the heels of the four executive orders he issued regarding drug prices two weeks ago. .Clobetasol propionate is one of four medications that accounted for the most significant generic price increases in 2014 according to information on the website of pharmacy benefit manager Express Scripts. The steep climb in generic drugs prompted a Senate hearing last year. The prices of more than 1,200 generic medications increased an average of 448 percent between July 2013 and July 2014, according to Senator Bernie Sanders (I-VT), ranking member of the Senate Subcommittee on Primary Health and Aging. .This week, lawmakers remained in their home states and districts to continue campaigning for the November 8th elections. They are expected to return to Capitol Hill in mid-November to begin the lame duck session of Congress. Until then, most lawmakers will be attending local events and holding town hall meetings in their home states and districts. .TSCL urges Congress to take common-sense steps like the following five to reduce prescription drug prices: allowing the federal government to negotiate lower Part D prices, capping out-of-pocket expenses for Part D beneficiaries, permitting prescription drug re-importation, prohibiting anti-competitive pay-for-delay deals, and increasing price transparency. .Now, Members of the House are planning to vote on a potentially revised CR next Wednesday, which means that the Senate will either be called back to Washington for a vote during their upcoming recess, or they will wait until they return at the end of the month, just days before the September 30th deadline. .TSCL is gearing up to fight legislation that would cut the current rate of COLA growth any further. To the contrary seniors need a COLA that more adequately protects the buying power of Social Security, and TSCL supports H.R. 776, the Guaranteed 3% COLA Act, introduced by Representative Eliot Engel (NY-17). Why not take a few minutes now to send your Representative an email explaining how you need a Social Security COLA you can rely on? Be sure to ask your Representative to co-sponsor H.R. 776, the Guaranteed 3% COLA Act. .Debt among older Americans is rising and affecting a growing number of retirees. According to the Survey of Consumer Finances, the percentage of households with debt headed by an adult age 65 and older increased from 41.5% in 1992, to 60% in 201Medical debt poses the biggest challenge over the course of a retirement. .Much of the debate over federal deficit reduction plans has been focused on overhauling Medicare and making changes to Social Security. But a major funding change is also under consideration for Medicaid, the federal and state program that covers medical care for lower-income individuals including seniors who also receive Medicare. As federal and state governments struggle to address Medicaid funding shortfalls, TSCL is concerned that Notch Babies, and the families who provide care for them, would be among those who would be hit the hardest by funding cuts.