Benefit Bulletin July 2014
For example, the CMF report offers suggestions on how House member offices can most effectively absorb additional cuts. Most notably, these include salary freezes, a potential shift to increased e-mail use over traditional mail, and limited travel expenses to district functions. .Part D — If you choose a Medigap plan, or a Medicare Advantage plan that does not offer drug coverage, you will need a Part D plan. If you take any prescription drugs, be sure to input your medications to get an accurate estimate of costs and to check the coverage of the drugs you take. Coverage of prescription drugs varies from plan to plan and from one year to the next. The average monthly premium for Part D plans weighted for enrollment is Plans often charge a deductible and in 2011 you would need to spend a total of ,550 out-of-pocket (not including premiums) before reaching catastrophic coverage. .The Social Security Administration also announced on Thursday that the Social Security payroll tax cap will rise from 8,400 in 2018 to 2,900 in 201Most American workers contribute 6.2 percent of every paycheck to the Social Security program, but high earners will stop contributing to the program once they reach 2,900 in income next year. That means the wealthiest American CEOs – many of whom are billionaires – will be finished paying into the Social Security program just a few hours or days into 2019. … Continued
Legislative Update Week Ending June 8 2018
Because of the collapse in the real estate market, experts say that thousands of seniors who need assisted living or nursing home care are remaining in their homes longer because they can't sell or get the price they need to cover their long term care. According to Harris Meyer, in an article for Kaiser Health News, the situation is leaving families under pressure to either pay for their parents' placement with their own money, or to provide care themselves. .This tax hike will disproportionally hit America's oldest and most vulnerable populations. Seniors make up more than half of those claiming the medical expense deduction. .Economic Conditions Compounded Problem … Continued
Most people don't know where to begin, and the process is designed to overwhelm you before you start. You, however, do not have to be one of these people. All you need to do is to call and set up a free counseling session with a local Medicare benefits counselor. Do this NOW. Locate the program in your area on the State Health Insurance Program website — https://www.shiptacenter.org. .In 2016 there was no COLA at all, and in 2017 the COLA was just 0.3 percent. During that time a special provision of law known as "hold harmless" protected about 70 percent of Social Security recipients from reductions to their Social Security benefits due to increasing Medicare Part B premiums. .New legislation before the House and Senate would repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) so that public servants receive the Social Security benefits they have earned and deserve. Will you cosponsor the Social Security Fairness Act (S. 521, H.R. 141) when you return to Washington on Monday? .Ignoring mature worker employment will have long-term effects on American families and our overall economy. During the final years of their careers, mature workers traditionally earn their highest salaries, pay off their mortgages, care for aging parents, put their children through school, take a splurge vacation and save for their retirement. .Sen. Mazie Hirono (HI) introduced S. 960 on April 15, 201It has since been referred to the Committee on Finance. .My brother-in-law has a low income and is getting home healthcare services. Recently I stopped in and saw a fancy new TV. When asked where it came from, my brother-in-law said it was a rebate from the home healthcare agency. Does Medicare or Medicaid allow this? We live in South Florida. .Starting a new medication can sometimes take you by surprise when drug plans don't cover the drug or charge higher co-pays than you can afford. If you're having trouble covering the cost of your medicine, here are some things to try: .Representative Peter DeFazio (OR-4) introduced H.R. 1170 on February 13, 201It has since been referred to the Committee on Ways and Means. .This week, the Senate Finance Committee met with a representative from the Obama administration to discuss alternatives to the Sustainable Growth Rate (SGR) formula. In addition, The Senior Citizens League (TSCL) saw five key bills gain new cosponsors.