News

  • Low Cola Covid 19 Costs Could Trigger A Medicare Premium Spike

    Medicare Advantage plans offer comprehensive hospitalization, doctor, and outpatient services through selected network providers, and most also include coverage of prescription drugs. Typically, premiums for Medicare Advantage plans can be 60% less than premiums for a Medigap supplement and a prescription drug plan. Many also offer extra benefits that are not covered by Medicare, like vision or dental benefits. .There could be several reasons that can cause sticker shock at the pharmacy. Here are some tips for checking the charges and understanding the costs associated with your new drug plan: .Unfortunately, a long-time TSCL goal of reducing prescription drug prices did not make it into the newly introduced House bill. It appears that, as we have written before, legislation to reduce drug prices will not be dealt with until sometime in the fall. … Continued

  • Congressional Corner Need Cpi Reflects Senior Costs

    Beginning in 2017, monthly premiums for Part B and Part D would increase by fifteen percent for those with higher incomes. If the plan were adopted, the income threshold would drop from ,000 to ,000, and it would not be adjusted for inflation until one-quarter of all Medicare beneficiaries qualify to pay the increased premiums. .In the latest issue of Best Ways to Save, retirees, and those nearing retirement learn: .There's good news and bad for older job seekers. The good news: the jobless rate for older workers is lower than the overall unemployment rate. And many employers do value older workers for their experience, skill sets, reliability and maturity. … Continued

When AZT, the first effective drug for combating the virus that causes AIDS, was introduced in 1992, it was priced at up to ,000 a year or about 0 a month. It was the most expensive prescription drug in history, at that time. The price was widely denounced as "inhuman." Today that price gets you some drugs for toenail fungus. .If adopted, H.R. 1553 would base annual Social Security cost-of-living adjustments (COLAs) on the Consumer Price Index for Elderly Consumers (CPI-E). .Recently we learned of a woman, now in her 80's, who has moved twice in the past decade to be close to her daughter. Her first move was from the family home in Connecticut to an up-scale retirement community in Virginia, and more recently following her daughter to Arizona after her son-in-law's job changed. Her former Virginia home has been sitting on the market for months. That's posing a drain on her resources, adding unanticipated costs for new housing at a time when her need for caregiving services is growing. Her daughter worried that the former facility wasn't handling things well. .At Thursday's hearing, Mr. Mathur updated the subcommittee members on the progress the administration is making to modernize the program's information technology. The administration is in the process of implementing a five-year plan that will result in improved service, stronger cyber security, and lower operating costs. Mr. Mathur reported that SSA's IT modernization efforts are currently on schedule and on budget, and that the outdated system should be fully replaced by 2022. .The Department of Homeland Security (DHS) recently began a review of all pending immigration deportation cases with the goal of dismissing those of illegal immigrants with no criminal records. TSCL is concerned that the policy, which would scale back deportations of hundreds of thousands of illegal immigrants, could potentially add hundreds of billions in new costs to the growing deficit problems of Social Security, SSI, Medicare and Medicaid. .The Senior Citizens League believes the inflation index that is currently used to calculate the COLA – the Consumer Price Index for Urban Wage Earners (CPI-W) – underestimates the inflation that Social Security beneficiaries experience largely because it fails to account for rising Medicare costs. . It depends on whether you can wait just a little bit longer to start benefits.. .For more information about town hall meetings near you in the days ahead, call the local offices of your Members of Congress. For contact information, click HERE. .Lawmakers Avert Government Shutdown