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  • Issues Prevention Of Fraud Waste Faqs Feed

    Before recommending the zero premiums, I helped Paula estimate potential costs. New managed care Medicare Advantage plans differ from traditional Medicare supplements by charging co-payments that can be substantial for each hospitalization, visit to the doctor, or other service received. Supplements tend to charge high premiums, but cover most, or all, of the co-insurance costs, leaving beneficiaries to pay little or nothing when they receive a service. If Paula had to be hospitalized or developed a serious illness, the co-payments charged by the Medicare Advantage plan could quickly add up to be just as much, possibly more, than what she would pay in premiums for her state retiree Medicare supplement. .But it's no "small change," warns The Senior Citizens League (TSCL), one of the nation's largest nonpartisan seniors groups. In fact, it could reduce lifetime Social Security benefits by tens of thousands of dollars over a retirement. .Several lawmakers at Tuesday's hearing promoted legislation they introduced this year to combat rising costs. Senator Al Franken (MN) asked his fellow committee members to support his Improving Access to Affordable Prescription Drugs Act (S. 771), which would take comprehensive steps to reform the prescription drug industry. In addition, Senator Bernie Sanders (VT) urged those on the committee to cosponsor his bipartisan Affordable and Safe Prescription Drug Importation Act (S. 469), which would allow individuals and pharmacies to import prescription drugs from approved pharmacies in Canada. … Continued

  • Legislative Update Week Ending August 31 2018

    The Potential Cost to Social Security Trust Fund Is Growing At An Unprecedented Pace .Changes to federal immigration policy affect the revenues that Social Security and Medicare receive and would also increase the number of people eligible for benefits in the future, according to the Congressional Budget Office. Both Social Security and Medicare face solvency and funding challenges. .Fourth, one new cosponsor – Representative Raul Ruiz (CA-36) – signed on to Medicare Prescription Drug Price Negotiation Act (H.R. 242), bringing the total up to forty-four. This bill, if adopted, would require the Centers for Medicare and Medicaid Services (CMS) to negotiate lower prescription drug prices on behalf of Medicare Part D beneficiaries. Under current law, CMS is prohibited from doing so. … Continued

Congress recognized that benefits would be lower under the new benefit formula provided by the 1977 law changes, but they sought to address the problem of abrupt benefit cuts for those nearing retirement (3). Congress provided a "transitional benefit formula" to phase in the changes for those who would become eligible for Social Security within the first five years of the changeoverЧthose born from 1917 through 192This group of retirees had their benefit calculated two waysЧunder the new benefit formula and under the transitional benefit formula and they received the higher of the two benefits. According to a comprehensive economic analysis by noted economist John Haldi, Ph.D., the transitional benefit formula, however, had significant flaws and in almost every case failed to provide any benefit protection (4). Thus, benefits were sharply and rapidly reduced. .In recent years, conversations about Social Security reform focused on the need to save funds by cutting benefits. While some lawmakers on Capitol Hill still favor an increase in the retirement age and a reduction in cost-of-living adjustments (COLAs), others have shifted the debate towards a growing retiree savings "crisis" and calling for expanding benefits instead. Three bills in particular would strengthen and modernize the Social Security program while making benefits more generous for all recipients, but especially for those who rely on them the most. These bills have won the support of many in Washington – including The Senior Citizens League: .Under current law, if an illegal immigrant eventually gets a work-authorized Social Security number through "guest worker" immigration legislation, or work covered under the Totalization Agreement, that worker could then eventually apply for Social Security benefits once eligibility requirements are met. Regardless of citizenship status, once an immigrant has a "work-authorized" Social Security number, that person may claim credit for all earnings, even those earned while working illegally. .The age at which you should start Medicare Part B is still 6Failure to enroll on time can expose you to permanent delayed enrollment penalties, not only for Medicare Part B (doctors and outpatient services) but also for Part D (prescription drug coverage). These penalties which can add 10% - 12% per year respectively to your Part B and Part D premiums for every year you miss enrollment deadlines, for the rest of the time you have Medicare. .Sources: "Cost, Logistics Of Obama Immigration Plan Raise Concerns Before Launch," Doug McKelway, Fox News, February 13, 201Testimony of Eileen O'Connor, Esq., Before The Senate Committee On Homeland Security And Government Affairs, February 4, 201"How Changes In Immigration Policy Might Affect The Federal Budget," The Congressional Budget Office, January 2015. .The Part D doughnut hole will be "closed" in 2020, but that doesn't mean that your out-of-pocket spending will stop. To the contrary, an unprecedented spike in Medicare's required out-of-pocket costs means you may pay more than you did in 201You will hit the former coverage gap around October or November, depending on whether the price of your prescription goes up. .Surveys show a majority of Americans would like to see an increase in the Social Security payroll tax, but a new tax reform proposal would eliminate the 12.4 percent payroll tax altogether. This would end Social Security as we know it and transform it into a welfare program for older Americans. Do you support this drastic new proposal? .Both chambers of Congress adjourned for the President's Day Holiday this week and are expected to return to Capitol Hill on Monday, February 25th. Meanwhile, Alan Simpson and Erskine Bowles, former co-chairs of the National Commission on Fiscal Responsibility and Reform, released a new proposal that would avert the looming sequester and trim .4 trillion from the deficit. In addition, two Members of Congress re-introduced a critical bill that would extend the solvency of the Social Security Trust Fund without cutting benefits. .A couple of weeks ago we told you about a recent study that made it clear that we are on the right track as we carry on the fight for lower prescription drug prices. When prices are so high, not only does it affect the financial well-being of individuals, but it also affects their physical well-being and can even have fatal consequences.