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  • Illegal Workers Could Claim Nearly 1 Trillion In Social Security Feed

    "The Reality Behind Generic Drug Inflation," Express Scripts, December 30, 2014, http://lab.express-scripts.com/insights/drug-options/the-reality-behind-generic-drug-inflation. .You are asking yourself the right questions. Many people buy life insurance to replace the income that would be lost when the policyholder dies and no longer is paid a salary. Once you stop working, most of your income is likely to come from retirement savings, pensions, annuities, and Social Security, which pays survivors benefits, if you or a spouse dies. There can be special needs, however, and for some retirees, life insurance may make sense. Here are a few major considerations: .At Wednesday's hearing, members of the committee heard from Jonathan Blum, the Deputy Administrator and Director of Medicare at the Centers for Medicare and Medicaid Services (CMS). Blum stressed the need for Congress to act before January 1st, since the cost of repealing the SGR is the lowest it has been in years. He also asked members of the committee to build upon the work that CMS has already done instead of starting from scratch. "We shouldn't step back, we should step forward," he said. In addition, he urged committee members to advance a plan that would create a five-year transition period and allow CMS to continue experimenting with different payment models, like accountable care organizations and medical homes. … Continued

  • The Senior Citizens League Weekly Update For Week Ending April 3 2020

    To shop and switch to a new Medicare Advantage health plan, visit www.Medicare.gov and click on the link to "Find health and drug plans." View the videos supplied to help you learn how to use the tool. If you feel you need more help, free one-on-one counseling is available through State Health Insurance Assistance Programs (SHIP) that operate through many local area agencies on aging. To find the agency in your area, try the Eldercare Locator at 1-800-677-111To learn more about Medicare, visit MedicareInteractive.org, an online tool that can answer your Medicare questions, created and maintained by the Medicare Rights Center. .The legislative proposal also does not specify whether the locality pay adjustment would be applied in addition to the COLA or used instead of a COLA. If the intention is to add a second adjustment in addition to the COLA my guess is that many retirees would welcome the additional boost. Should the proposal be intended to replace the COLA that brings a higher level of uncertainty to the annual adjustments than we already experience. For people who live in areas where private sector pay is on an even level with federal pay or lower, those retirees may wind up with little or no locality pay adjustment, perhaps over the course of many years. .This week, talks between three committees – the House Ways and Means Committee, the Senate Finance Committee, and the House Energy and Commerce Committee – to repeal and replace the SGR seemed to have stalled. The three committees are currently working on merging their own separate bills to repeal the outdated formula and set up a sustainable path forward. They have until March 31st to do so. Should they fail to reach a compromise, doctors who treat Medicare patients will see a pay cut of approximately 25 percent, which could threaten seniors' access to quality medical care. … Continued

During the pandemic, non-emergency elective hospital procedures were temporarily stopped to lower the risk of COVID-19 transmission, to preserve scarce personal protective equipment and to keep hospital beds available for COVID care. According to JAMA, the Journal of the American Medical Association, hospitals across the country have taken a major hit to their normal operating income. The American Hospital Association recently reported the average loss of revenues to U.S. hospitals of .7 billion per month from March 1, 2020 to June 30, 2020. We don't yet know how much more hospitals have lost through the end of 2020. .A few years later, under 2003 Medicare drug legislation, funding for private plans was significantly boosted and the program got rebranded as "Medicare Advantage." Enrollment grew steadily and rapidly ever since. But by 2009, government economists reported that the payments to the plans cost the federal government 14 percent more than the same services would have cost under traditional Medicare. .We will be watching all of the candidates closely as we approach the November elections. Seniors are not being over-paid by Social Security and are not under-paying for Medicare. Getting Congress to pass a fair COLA that reflects the true cost of living for Seniors' remain one of our top priorities and we will keep you informed about what the candidates say about the Social Security and Medicare issue and details on their platforms are released. .The term "Notch" refers to an unprecedented drop and disparity in Social Security benefits for persons born from 1917 through 1926 compared with those paid to other retirees with similar work and earnings records. Many of those born during the Notch period feel they have not been treated fairly and are not receiving the benefits that Congress intended. On the other hand, the Social Security Administration (SSA) and some government officials argue that those born during the Notch period are receiving the benefits that Congress intended. This brief lays out the background on the issue and the position of TREA Senior Citizens League. .Welcome to the month of February! This week, President Donald Trump addressed the nation in his first State of the Union, and The Senior Citizens League (TSCL) monitored negotiations at one Senate hearing. In addition, four key bills gained new cosponsors in the House and Senate. .Medicare's Trustees reported in April that the Part A Trust Fund, which covers hospital insurance and inpatient care, would run out of money by 202That estimate, however, does not factor in the impact of the coronavirus on the program. New estimates are coming in that the pandemic could cause the Part A Trust Fund to become insolvent much sooner. The Committee for a Responsible Federal Budget, a group of nonpartisan budget experts focused on fiscal policy, estimates that the pandemic will cause Medicare Part A to run low in 2023 or 2024 —as little as two to three years from now. .At that point Congress would either must cut benefits in a major way or raise taxes to pay for continued benefits, something that Congress has refused to do for years. .People frequently say they are "not ready" to move into a senior living facility, but the thoughtful solo adults who cherish their independence might be convinced that, by making decisions ahead of time when they are still healthy, is how one preserves that autonomy. Waiting until a health crisis could mean winding up where someone else decides she or he needs to be. .The report found similar price disparities in expensive specialty drugs that treat complicated conditions like cancer.