How An Infrastructure Bill Could Affect Drug Prices
Health Care System Weaknesses Magnified During Pandemic
As you know, the medical expense deduction is essential for older Americans who disproportionately experience high medical costs for prescription drugs, medical equipment, or services like nursing home care. Around 5 million taxpayers, most of whom are over the age of sixty-five, rely upon the tax deduction when their out-of-pocket medical costs total more than 10 percent of their annual income. .If signed into law, the PRIME Act would increase fraud prevention efforts within Medicare and Medicaid. Among other things, it would enact stronger fraud penalties, curb mistaken payments, phase out the practice of "pay and chase," reduce the theft of physician identities, and improve the sharing of fraud data among agencies and programs. .In other words, next year's COLA could be calculated based at least in part on guesses. That could be disastrous for seniors. … Continued
America's immigration policy may make a dramatic shift in the coming months. According to press reports, the new Congressional leadership may push for an immigration plan that grants amnesty to illegal immigrants residing in the U.S., and America's senior citizens are paying close attention. .The Senior Citizens League enthusiastically supports H.R. 1205, H.R. 6251, H.R. 4957, and H.R. 2212, and we were pleased to see support grow for them this week. For more information about these and other TSCL-backed bills, visit the Bill Tracking section of our website. .Every day approximately ten thousand people reach their retirement age. Many have spent a lifetime working to care for their families and save for retirement all while paying federal taxes. The taxes paid into Social Security and Medicare have helped make these programs successful for past generations of retirees. .The Senior Citizens League enthusiastically supports H.R. 3302 and H.R. 1114, and we will continue to advocate for them tirelessly in months ahead. For more information, visit the Bill Tracking section of our website. .While no one should try to be one's own physician, it is vital to establish good communication with your doctor. If you feel awkward asking these questions, consider bringing someone with you to appointments who can ask on your behalf. Sources: "The Patient As A Consumer," Marvin Moser, M.D., Yale University School of Medicine Heart Book. "Physicians Wade Into Efforts To Curb Unnecessary Treatments," Julie Appleby, Kaiser Health News, April 4, 2012. .This week, the Senate Committee on Health, Education, Labor, and Pensions (HELP) held a hearing on rising prescription drug costs. In addition, The Senior Citizens League (TSCL) saw two key bills gain support in the House of Representatives. .(Washington, DC) – Consumer price index data through August 2021 indicates that the 2022 COLA will likely be about 6 percent. But soaring inflation this year has deeply eroded the buying power of Social Security benefits, according to a new update to an ongoing inflation study by The Senior Citizens League (TSCL). The study, which compares the growth in the Social Security cost of living adjustments (COLA)s with increases in the costs of goods and services typically used by retirees found that, since 2000, Social Security benefits have lost 32 percent of their buying power. .Sources: "Feds Announce Biggest-Ever Medicare Fraud, Totaling 0 Million," Scott Cohn, CNBC, May 4, 201"Report: Suspect Billings At 2,600 Drugstores," Ricardo Alonso-Zaldivar, The Associated Press, May 13, 201"Obstacles To Collection Of Millions In Medicare Overpayments, Office of Inspector General, Department of Health and Human Services, May 2012. .Second, three new cosponsors signed on to the Social Security Expansion Act (H.R. 1114), bringing the total up to thirty-six. The new cosponsors are Representative Robert Brady (PA-1), Representative Albio Sires (NJ-8), and Representative Tim Ryan (OH-13). If adopted, H.R. 1114 would enhance Social Security benefits by basing COLAs on the CPI-E, increasing monthly benefits by around , improving the Special Minimum Benefit, applying the payroll tax to income above 0,000, and applying a 6.2 percent tax on investment income for wealthy individuals.