Legislative Update Week Ending April 21 2017
, editor, and Terry Newell, President, Leadership for a Responsible Society .Heating and cooling assistance, the Low Income Home Energy Assistance Program (LIHEAP). .Using statistical data from the Social Security Administration, TSCL estimates about 88 percent of Social Security beneficiaries have received benefits during the 2009 – 2015 period and have been impacted the hardest. "With 64 percent of older Americans depending on Social Security for over half of their income, going without a COLA is a loss of income that most beneficiaries simply can't be expected to bear," Cates says. Spiking medical costs are causing retirees to go into debt, and run through their savings," he adds. … Continued
Legislative Update For Week Ending February 8 2013
Locate the booklet of information about your drug plan for 2020. Your drug plan is required to send you "Evidence of Coverage" for 2020, a booklet that outlines your plan's coverage for your prescription drugs, and what you pay in general. If you don't have that information from your drug plan, or if you don't see answers to your specific questions, you can call the customer service representative of your drug plan directly, or you may find information about your drug plan online by searching drug plans at www.Medicare.gov. .However, price negotiations could be included later this year in a reconciliation bill, a fast-track budgetary move that only needs 51 votes to pass the Senate and cannot be blocked using a filibuster. ."Most people 65 and over take more than one prescription drug, so to get the lowest-costing plan that's right for you, people need to do a drug plan comparison based on all the drugs they currently take, " Johnson explains. "In addition, you should carefully compare prices at network retail pharmacies as well as mail order — those prices can also vary significantly," Johnson notes. … Continued
Understand how sales commissions affect your payout. Sales commissions come out of your investment. The higher the commission the less monthly income for you. Make sure the amount of monthly income quoted is net of sales charges. .Is the evidence really so clear? .Did Members of Congress receive a COLA this year? If so did they get more than the 3.6% that seniors received? Is it true they don't pay into Social Security? .Following the meeting at the White House, Congressman Welch told reporters: "It simply makes no sense for Medicare to buy wholesale and pay retail prices. As a businessman, President Trump understands that. I hope he helps us enact our legislation to provide urgently needed relief to consumers and taxpayers." In addition, Congressman Cummings said, "We had a productive meeting today … The President committed to reviewing our proposal, and he seemed enthusiastic about the idea." .Here's a closer look at the Medicare proposals: .Since the government transitioned from paper checks to less expensive electronic payment methods, the Social Security Office of Inspector General (OIG) has been investigating unauthorized changes to direct deposits that redirect seniors' benefit payments into accounts set up by crooks. As of June 1, 2013, the OIG's office has received more 50 reports per day involving attempts to make such a change, most often involving redirecting benefits to the prepaid Direct Express debit card accounts. .It sounds as though either your mother, or her acquaintance, received some incorrect information. "The Notch Fairness Act," legislation that would provide Notch Babies born 1917 through 1926 with a settlement of ,000, or a higher monthly benefit, has not yet passed. No doubt that's why the Social Security Administration did not respond to your mother's request. It is correct that widows or widowers receiving benefits on the account of a Notch Baby would be entitled to the ,000, or the higher monthly benefit if the legislation is enacted. .Hang up if a stranger asks for personal or financial information. .PhRMA, the drug industry's lobbying group, called the bill "the wrong approach to lowering prescription drug prices" and said it "imposes harmful price controls in Medicare Part D." But with drug prices for many brand and specialty drugs running into the hundreds and even thousands of dollars for a single fill, TSCL believes that restricting the rate of increase on prescription drugs, and capping out-of-pocket costs, could help save lives and improve the health of older Americans.