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  • The Senior Citizens League Tscl Weekly Update For Week Ending June 26 2020

    For progress updates or for more information about these and other bills that would strengthen Social Security and Medicare programs, visit the Bill Tracking section of our website or follow TSCL on Twitter. .Social Security Notch Reform – Work towards benefit equality for Notch victims. ."Many of the most-expensive medications are the biologic treatments that we often see advertised on television," Mulcahy said. … Continued

  • Higher Cola

    "The Senior Citizens League Wants to Know: "How Much Will You Spend on Medicare?"" .New research, however, suggests that Medigap substantially increases Medicare spending, because seniors with the policies are insulated from costs. Those with polices tend to receive more medical care than people who are required to pay some or all of the costs of their care out-of-pocket. According to the CBO, a 2010 study found that Medicare beneficiaries responded to increases in their cost sharing by reducing visits to physicians and use of prescription drugs.[2] "Making seniors pay higher initial Medigap cost-sharing affects both senior budgets, and senior health — especially if seniors forego necessary care," Cates notes. .It came in the mid-1950s, before health insurance for outpatient care was common, before new drugs were protected by multiple patents, and before medical research was regarded as a way to become rich. It was not patented because it was not considered patentable under the standards at the time. … Continued

Higher-income beneficiaries. People with modified gross incomes of ,000 (individuals) or 0,000 (couples) in 2017 are required to pay higher Part B premiums, depending on income. .When shopping for an immediate fixed annuity you need to look for how much monthly income your investment will buy, and the safety of your insurance company. Here are some points to consider from Steve Vernon, a retired consulting actuary, and author of Money for Life: Turn Your IRA and 401(k) Into a Lifetime Retirement Paycheck. .In 2015, after a national coalition of senior advocacy groups (including TSCL) demanded action, Congress reduced the increase in Part B premiums from 9.30 per month to 1.80 per month, which was still a very high increase of 16.1 percent. The premium included a "repayment" amount that was added to monthly premiums of all beneficiaries in future years to recover the cost of the reduced premium rate in 2016 over time. .Medicare Savings Programs cover the cost of the Medicare Part B premium, saving a person 8.50 per month in 202Depending on income, those with the lowest income may also qualify for additional benefits that cover the Part B deductible and out-of-pocket costs. People with incomes in 2020 of up to ,456 per month (individual) or ,960 (married couples) might be eligible if they have limited savings and resources of ,860 (individuals) or ,800 (married couples). These limits are slightly higher for Hawaii and Alaska. This program is administered through state Medicaid programs and states may have guidelines that allow people with slightly higher income to enroll. If interested ,contact your local Medicaid office to apply. .If signed into law, the PRIME Act would increase fraud prevention efforts within Medicare and Medicaid. Among other things, it would enact stronger fraud penalties, curb mistaken payments, phase out the practice of "pay and chase," reduce the theft of physician identities, and improve the sharing of fraud data among agencies and programs. ."For the third year in a row, millions of older Americans will once again see no increase in their net operating Social Security payments, particularly if Medicare Part B premiums remain 4 per month in 2018, as currently forecast by the Medicare Trustees," says TSCL's Social Security and Medicare Policy Analyst, Mary Johnson. "The problem is that a substantial portion of beneficiaries currently are paying a Part B premium that is about less than that now," Johnson says. .Eliminating the tax on Social Security benefits that currently applies to individuals with incomes as low as ,000 and married couples with incomes less than ,000. .If he proceeds, Trump would force drug companies to accept lower payments from Medicare for treatments administered in doctors' offices. The rule would apply to certain drugs bought by the "Part B" section of Medicare. .Mandatory programs are those, like Medicare, that are automatically funded every year without passage of annual legislation to pay for them. Congress can, however, waive the PAYGO rules to avoid the payment cuts.