News

  • Benefit Bulletin November 2015

    To quickly determine whether a portion of benefits is taxable, taxpayers should take their adjusted gross income, and add any nontaxable interest, plus one - half of Social Security income. If the amount is over the thresholds shown then a portion of benefits are taxable. (For more information, see IRS publication 915 Social Security and Equivalent Railroad Retirement Benefits for worksheet and help in preparing tax returns). .Which Medigap plan is best for you? To learn about Medigap plans and the coverage they offer you can find a chart comparing the coverage of plans A through N in the "2016 Medicare & You" publication on page 10You can download a copy online at www.Medicare.gov or call 1-800-Medicare ( 7) to request a copy. .While the Commission's plan received the support of a majority of the 18-member commission, the plan was three votes shy of the 14 votes needed to force Congressional action. Nevertheless, both President Obama and Congressional leaders said they would include many of the recommended proposals in their upcoming budgets for fiscal 2012, which are due soon. … Continued

  • Specialty Drugs Under Medicare Part D Nearly Two Times Higher Than Under Medicaid

    Double check the price quote that you received by checking the difference in price between several retail walk-in pharmacies and Humana's mail-in. Sometimes the price can be very different between the two. I learned that my drug plan's mail-in pharmacy would charge me 3 for three albuterol inhalers. The small local walk-in pharmacy was still charging just 1.99 for three. Often, mail order can be less expensive than walk-in retail. Check for each separate drug. You can use the Medicare drug plan finder to help you look up your plan and learn the cost of your co-pay or co-insurance. .A majority of those at this week's hearings, however, were strongly opposed to the IPAB. Multiple Members referred to it as the "denial of care board," and Ranking Member of the Energy and Commerce Committee Frank Pallone (NJ) called it the fruits of a "growing, imperialistic presidency." Critics believe that it will undermine Congress's ability to represent their constituents, and that elected officials — not a Board of Presidential appointees — should be legislating healthcare policy. .TSCL believes the drug problem could explode this year. Citing massive "sequester" budget and staff cuts, federal officials are set to scale back or drop investigations into Medicare and Medicaid fraud and abuse cases. The Department of Health and Human Services may lose a total of 400 staffers and the existing staff is stretched so thin that it was unable to investigate about 1,200 cases of Medicare and Medicaid fraud and abuse last year. … Continued

If adopted, it would provide beneficiaries with a 2 percent benefit boost, base cost-of-living adjustments on the more accurate Consumer Price Index for the Elderly, create a new minimum benefit set at 125 percent of the poverty line, and eliminate taxes on Social Security benefits for millions of seniors. It would also extend the solvency of the program through the year 2100 without cutting benefits for current or future retirees. .The Medicare Trustees estimated in their April 2020 annual report that the base 2021 Part B premium would rise by .70 (6 percent), from 4.60 to 3.30.[9] The annual report was written prior to the coronavirus national emergency and does not incorporate the effects of the coronavirus caused recession, the interaction with an extremely low, or even no COLA, and the potential triggering of hold harmless in its forecast. .It is anticipated that one of the orders will be to shift drug and medical production to this country by suddenly cutting off federal agencies from those offshore supply chains. .We can no longer kick the can down the road." .TSCL supports both prescription drug bills introduced by Senators Franken and Sanders earlier this year, and we will continue to advocate for them tirelessly in the coming months. We will also continue to monitor these discussions on Capitol Hill closely, as the Senate HELP Committee is expected to hold two additional hearings on the prescription drug topic in the near future. For updates, visit the Legislative News section of our website, or follow TSCL on Twitter. .That report estimates the Social Security trust fund could be depleted by 2030, five years earlier than the official government estimate, because of the recession and long-term near-zero interest rates triggered by the pandemic. .In the weeks ahead, TSCL will keep a close eye on the issue, and we will advocate for solutions that will improve access without jeopardizing online security. For progress updates, visit the Legislative News section of our website or follow us on Twitter. .The Senate, where Republicans hold the majority, has yet to make a decision as to whether to defer taxes for its employees. .Understand which type works best for you. Medicare supplemental or Medigap premiums currently tend to be higher, often by hundreds of dollars, than those of Medicare Advantage Plans. In fact, there are Medicare Advantage Plans that offered hospital, doctor, and prescription drug coverage for home care. Concerns have been raised that health plans may not have adequate capacity to handle enrollment of large numbers of dual eligibles en masse in 201In addition, the Medicare Payment Advisory Commission (MedPac) has said that only a limited number of health plans have any experience managing benefits for this complex population. .House Passes Prescription Drug Legislation .What are the Notch Reform bills that are in the current Congress? .This week, The Senior Citizens League released its final estimate for the 2019 Social Security cost-of-living adjustment (COLA), and four key bills gained support in Congress. .Drug companies deserve a reasonable profit for taking on this urgent task of creating a COVID-19 vaccine. But we deserve a return, too. .This year, The Senior Citizens League has heard from supporters like never before about some extreme costs of prescription drugs. One supporter told us she pays ,800 for a three-month supply of insulin as a type 2 diabetic. She said: "I do not have that kind of money! My doctor has been giving me samples to keep me afloat but I cannot expect him to do that forever … I will have to sell my house to pay for insulin." .Yet here we are today facing another failure to pass legislation on time, which has happened year after year under McConnell. .TSCL is hopeful that lawmakers will pass a stopgap measure before the October deadline, since a government shutdown could negatively impact Social Security and Medicare beneficiaries. We will keep a close eye on the evolving negotiations over the next two weeks, and we will post updates here in the Legislative News section of our website. .In addition to Medicare Part A and B, you will need additional insurance. Medicare alone does not cover everything, and there are considerable out-of-pocket costs that would suck your life savings right out of any nest egg you might have. You will need to decide between a supplemental insurance policy, known as Medigap, and a free-standing prescription drug plan, or to join a Medicare Advantage plan with prescription drug coverage. TSCL strongly recommends that you get free, unbiased counseling, to learn your options and to find the most reasonably-priced coverage for your needs. All areas of the country offer this Medicare counseling through State Health Insurance Assistance Programs (SHIP). Although the actual name of the program in your area may vary, you can find the programs operating through your area agency on aging, senior center, or get contact info here: https://www.shiptacenter.org premiums in 200Don't let the lure of zero premiums fool you, because you will pay in other ways, especially if you get sick.