Legislative Update Week Ending December 21 2018
Senate Committee Discusses Drug Costs ."Our example just looked at the salaries and performance pay of just 20 CEOs," notes Johnson. "According to the Social Security Administration, there will be 12 million people who earn above the taxable maximum in 2018," she adds. .Under current law, the Medicare program is prohibited from negotiating prices with pharmaceutical companies despite the fact that other federal health programs are required to do so. As a result, older Americans enrolled in Part D often pay much higher prices than other American consumers for their prescription drugs. If adopted, this bill would lead to billions of dollars in savings for the Medicare program, and it would immediately reduce prescription drug prices for Medicare Part D beneficiaries. … Continued
Legislative Update For Week Ending November 18 2011
On Wednesday, the Board of Trustees – along with Shannon Benton (Executive Director), former Congressman Van Hilleary (Legislative Consultant), and TSCL's staff – spent the day meeting with four Congressional offices. Support was expressed for a number of bills that would strengthen Social Security benefits for older Americans, including the CPI-E Act (H.R. 3961), the CPI for Seniors Act (H.R. 3074), and the Honesty in CPI Reporting Act (H.R. 3500). .For those planning retirement however, it is the estimated dollar amount in Social Security benefits, not the replacement rate, that what one uses to determine a retirement budget, or how much more one will need to save for retirement. When one retires, it is the actual benefit amount, not the replacement rate that one must live on. One of the most frequent requests for services received by Social Security Administration is for an estimate of benefits. While no promises of benefits are made, millions of estimates are made annually. If the rules are changed abruptly, as they were for those born during the Notch period, this leaves no time to save for the shortfalls in benefits (if they can be foreseen ahead of time). .The period covered by the Notch is a major area of dispute. When benefits are represented on a chart, the disparity forms a deep "V" notch. Benefits plunged from a peak for retirees born in 1916 and hit the lowest part of the "V" for those who were born in the years 1920-2Benefits began to rise for those born in 1922 until they became level with other retirees, starting with those born in 192See illustration below. … Continued
People who decide to go on a cruise should get tested 1–3 days before their trip and 3–5 days after their trip. .People most at risk of owing taxes include: .One can't write about Medicare as I do without learning that Medicare has requirements for everything. Lots of requirements.. Medicare Starts Mailing New Cards In April — Beware Of Scams! Start watching the mail for your new Medicare card. The Center for Medicare and Medicaid Services will start mailing the cards this month and plans to replace all existing Medicare cards over the next year — by April of 2019. .First, one new cosponsor – Representative Ruben Gallego (AZ-7) – signed on to the Competitive DRUGS Act (H.R. 4117), bringing the total up to thirty-seven. If adopted, this bill would prohibit brand name pharmaceutical companies from paying generic drug companies to delay the introduction of their products to the market. Banning these anti-competitive "pay for delay" deals would lead to lower prescription drug prices for older Americans and other consumers. .In a normal year the two-week period around Christmas and New Years Day is a slow news period. But, as with so much else, that was not true this year. .In addition, you will need a plan to cover the portion of costs that Medicare does not pay which are considerable, either a Medicare supplement (Medigap plan) with a Part D plan for drug coverage or Medicare Advantage plan that includes drug coverage. Spending on Medicare and health insurance premiums comprise the biggest share of healthcare costs, nearly two-thirds of overall senior healthcare spending. .This week, after weeks of intense negotiations, lawmakers reached a bipartisan budget deal that will fund the federal government through the remainder of the fiscal year. In addition, The Senior Citizens League (TSCL) saw one key bill gain critical support. .For more information see the Medicare publication, "Are You a Hospital Inpatient or Outpatient?" CMS Product No. 1143Get a copy online at www.Medicare.gov or call 1-800-MEDICARE ( 7). .False and invalid Social Security numbers SSNs are supplied to employers virtually without any serious or immediate consequence. Illegal immigrants work using numbers belonging to another person, numbers that have been made up, by using "non-work" SSNs. Employers report the wages using these numbers or in some cases where no number exists, file the reports using a series of zeros in the SSN box (000-00-000).(7) In addition, immigrants who are in the U.S. illegally may work under one or more aliases. The unauthorized wages earned and reported under invalid SSNs represent a rapidly growing future benefit liability should Congress enact immigration reform that gives work authorization to immigrants working in this country illegally today.