News
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Legislative Update For Week Ending November 9 2012
Increase income. On average, older Americans get about 34% of their total income from Social Security; 33% from earnings; 11% from personal assets such as money in IRAs, 401(k) plans and taxable accounts, and 22% from pensions. To boost income, they could invest more aggressively in higher-yielding and perhaps more risky assets, such as long-term bonds and high-dividend-paying stocks; go back to work; or if they are still working, take on more hours. .The Advisory Office would give seniors hope in recovering their assets. It would address the low reporting rates by directing the FTC to educate seniors, families, and caregivers about the process for contacting law enforcement after being targeted in a fraud scheme. It would direct FTC to help improve the nation's fraud response efforts by reforming FTC's complaint system as well as enhancing fraud surveillance through better coordination with law enforcement agencies. .Premium support by itself is no shoo-in for cutting federal spending. In fact, the track record is pretty messy. The costs for Medicare Part D have been lower than originally projected. Competition between Part D drug plans seems to be working, for now, to keep costs down both for the government and for some seniors — particularly those who carefully shop and compare drug plans each year. … Continued
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House Drug Bill Would Save Medicare 345 Billion
Millions of other public servants find themselves in similar situations, often too late to do much about it. To reconcile this inequity, The Senior Citizens League (TSCL) enthusiastically supports the Social Security Fairness Act (S. 896 and H.R. 1795), a bill that would repeal both provisions and grant public servants the retirement security they deserve. The bill was introduced by Senator Mark Begich (AK) in the Senate, and by Rep. Rodney Davis (IL-13) in the House. So far, it has gained significant traction in both chambers. In the House, it recently reached one hundred co-sponsors, and in the Senate, nearly twenty lawmakers have signed on in support of it. .Second, one new cosponsor – Representative Bradley Byrne (AL-1) – signed on to the bipartisan Social Security Fairness Act (H.R. 1205), bringing the total up to 195 cosponsors. If adopted, this critical bill would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two provisions that unfairly reduce the Social Security benefits of millions of teachers, police officers, and other state and local government employees each year. Its passage would ensure that retired public servants receive the Social Security benefits they have earned and deserve. .On Tuesday, new and veteran lawmakers in the House and Senate met on Capitol Hill for the swearing in of the 115th Congress. As expected, Congressman Paul Ryan (WI-1) was re-elected to the Speaker position with 239 votes in the House, and Congresswoman Nancy Pelosi (CA-12) was re-elected to the House Minority Leader position with 189 votes. … Continued
Low-income beneficiaries who receive Medicaid in addition to Medicare. State Medicaid programs pay the Part B premiums for people who qualify due to low income and resources. According to the Kaiser Family Foundation, there are approximately 10 million dually-eligible beneficiaries representing about two-thirds of those who are not protected by hold harmless. .https://www.mayoclinic.org/diseases-conditions/coronavirus/in-depth/covid-19-cold-flu-and-allergies-differences/art-20503981 .Foster testified before our committee that changes included in the health care law will cut funding for hospitals, skilled nursing homes, diagnostic labs and many other services by more than half the levels under prior law. In addition, future Medicare payments will be considerably below the current relative level. These rates would cause a significant number of providers to leave the market. .According to MedPAC, the Medicare fee schedule undervalues the important services that primary care physicians provide. This creates disparities in compensation between the primary care and specialty fields, and it deters medical students from choosing to enter primary care. To address the issue, MedPAC recommended an extension of a primary care bonus program that is set to expire in the near future. However, instead of offering bonus payments for each service that is provided, the Commission suggested that physicians be rewarded on a per beneficiary basis, which will help the Medicare program improve the coordination of care. .I don't have dental insurance and pay out of pocket. I know I will need to get some expensive work done at some point in the next year or two. Is dental insurance worth the cost? How do you go about getting a good dental plan? .Watch your mail for information from your current Medicare supplemental or Medicare Advantage, and drug plan insurers. Your insurers will send you notification of changes in coverage, such as premiums, deductible, and co-insurance or co-payment costs for 200Carefully review these documents and compare them with your costs in 200File these documents where you can easily refer to them because you will need to use them for comparison when comparing other insurance options. ."This increase is due in large part to the effects of a zero and an excessively low cost of living adjustment (COLA) in 2016 and 2017, occurring when Medicare premiums and out-of-pocket costs like prescription drugs were climbing steeply," says Mary Johnson, a Social Security and Medicare policy analyst for The Senior Citizens League. .Throughout the remainder of the 113th Congress, TSCL will continue to urge Members of Congress to pass the Social Security Fairness Act since we believe strongly that it would go far in ensuring the retirement security of millions of seniors. To aid us in our efforts, we encourage you to contact your elected officials to request their support for S. 896 and H.R. 1795. .Sources: National Health Expenditures 2011 Highlights, Department of Health and Human Services, January 8, 2013.
