Surprise Billing Coming To An End For Patients
This is especially important new research at a time when Social Security faces potential changes. President Obama's "National Commission on Fiscal Responsibility and Reform" is scheduled to release its plan to cut the federal deficit by December 1st. .I turn 66 in August of next year, and plan to start Social Security retirement benefits. How much may I earn in 2021 without reducing my benefits? .National Emergency Stockpile to be Increased … Continued
2015 Senior Survey Results
Because the economic fluctuations were highly unusual and unforeseen, logic dictates that Congress could not have intended the benefits that Notch Babies actually received. The disparities in benefits under the actual conditions of double-digit inflation are illustrated in the following chart, which was not developed until 199Even if Congress had developed this chart in 1977, however, they would have seen benefit differences of only 10%-14% shown on the left-hand side of the chart. Instead, the effects of inflation are reflected by benefit differences of 13% to 30% shown on the right. In effect, the actual benefit reductions for many retirees were more than double what original projections would have been at the time. .Last week, the two leaders of the Republicans and Democrats in the Senate finally were able to reach an agreement on organizing the Senate for the next two years. An agreement was needed because each party has 50 Senators. Because of that, Vice President Kamala Harris, who is President of the Senate as provided for in the Constitution, will break any tie votes that may occur. That includes the vote to organize the Senate. .In his opening statement, Budget Committee Chairman John Yarmuth (KY-3) said: "[Social Security] is facing serious long-term funding shortfalls, with promised benefits facing cuts as high as 20 percent as soon as 2035 if Congress does not act. Cuts of this level would be devastating for the individuals who rely on Social Security … Congress has a responsibility to act and honor the promise of retirement security." … Continued
President Trump also said this last weekend that over the next 2 weeks he will pursue an executive order requiring health insurers to cover pre-existing conditions. "We will be pursuing a major executive order" on pre-existing conditions, Trump said during a news conference in N.J. .To put the problem of Medicare's cost growth into perspective, the following table illustrates what common food items would cost in 2014, if they had increased as rapidly as Medicare Part B premiums. To give a fuller picture, this table spans a 3year period, the length many Baby Boomers can expect to live in retirement. Medicare Part B premiums are twelve times higher today than 34 years ago in 1980. ."Failing to raise the U.S. debt ceiling could be disastrous," warns The Committee for a Responsible Federal Budget, a group made up of leading U.S. economists, retired economic policy experts, and former Members of Congress concerned about reducing federal debt. If Congress fails to lift or suspend the debt limit in time, the inflow of Social Security and Medicare payroll taxes won't be sufficient to cover daily obligations. That could mean the U.S. Treasury could default on Social Security payments as well as payments to Medicare health plans. .Federal agencies shut down this week as Members of Congress failed to adopt a stopgap funding measure before the October 1st deadline. In addition, The Senior Citizens League (TSCL) saw one key bill gain support. .TSCL is encouraged by the President's comments on drug prices, and we urge the administration to do everything in its power to bring down costs for consumers in the months ahead. In the meantime, our legislative team will continue to advocate for legislation like the Improving Access to Affordable Prescription Drugs Act (S. 771, H.R. 1776), which would take comprehensive steps to lower costs for Medicare Part D beneficiaries. .TSCL believes all three of these bills go a long way in ensuring the retirement security seniors have earned and deserve. In addition to strengthening benefits, each one would include measures to increase the solvency of the Social Security program responsibly, for 40 years or more into the future. We look forward to working with Rep. DeFazio, Rep. Larson, and Sen. Sanders in the months ahead to help build support for their important legislation. .Allowing individuals to import prescription drugs from abroad. Many Medicare beneficiaries spend thousands of dollars every month on lifesaving medications under the Part D program. The bipartisan Safe and Affordable Drugs from Canada Act (S. 61) would allow these individuals import their prescription drugs from approved pharmacies in Canada, where medicines are often half the cost. This critical bill would improve access to affordable medication for older Americans, and it would bring down costs nationwide by increasing competition in the American marketplace. .Both retirees and the disabled spend a very significant portion of their incomes on healthcare costs. For many, health insurance premiums are the most significant expense that they incur every month. That includes what the government automatically deducts for Medicare Part B, and what individuals shell out for a Medicare Advantage plan or Medigap policy, and Part D drug plan. According to a policy brief from the Kaiser Family Foundation, premiums account for the largest share of Medicare beneficiaries' out-of-pocket health spending. Four-in-ten Medicare beneficiaries spend more than 10 percent of their income on premiums alone. To get a better idea of what the government does track, here's a list from the Bureau of Labor Statistics (BLS). The BLS has classified all expenditure items into more than 200 categories, arranged into eight major groups. Major groups and examples of categories in each include: .Last week the Congressional Budget Office (CBO) released a report that revealed Medicare outpatient plans are three times more expensive for the same drugs as those covered by Medicaid.