News

  • Legislative Update January 2016

    A recent study by TSCL, which examines the price changes in the goods and services typically purchased by retirees, found that Social Security benefits lost 30 percent of their buying power since 2000. The loss of buying power jumped 7 percent in just one year, rising from 23 percent in 2016, to 30 percent in 201The steep one-year loss of buying power occurred as costs rose far more rapidly than the COLA and it is an early indication that the COLA for 2018 will likely be higher than usual. .How accurate is it? .The CBO estimates that replacing Medicare with a premium support system would save the federal government as much as 5 billion over ten years.[3] The CBO also estimates that premiums paid by affected beneficiaries, however, would be about 30 percent higher on average by 2020 than the current projected Part B premium. In addition, the CBO said that shifting seniors to private plans would affect access to providers, a problem that many seniors are experiencing with Medicare Advantage plans now. … Continued

  • Administration Announces Plan To Remove Illegals From Medicare Rolls

    Allow states, wholesalers, and pharmacies to import FDA-approved drugs from foreign countries and sell them in the U.S. Trump has long complained that countries where the government sets the price of drugs are taking advantage of American consumers. The order includes a special provision to allow wholesalers and pharmacies to re-import insulin and biological drugs. .Drug Companies start effort on New Drug Treatments .Spousal and survivor strategies also are important. One example is file-and-suspend, which allows a spouse to claim a spousal benefit while the individual defers claiming. Another is "claim now, claim more later," where the high earner in a married couple claims a spousal benefit based on the lower earning spouse's record, while delaying his or her own retired worker benefit. The idea is to generate higher benefits both for the individual as well as higher survivor benefits for widows. … Continued

But for more than two months, state inspectors failed to enter half the country's homes — a revelation that prompted CMS to crack down. .This week, lawmakers involved in talks to permanently repeal and replace the SGR revealed that a temporary pay-patch will likely be necessary. Those serving on three committees – the House Ways and Means Committee, the Energy and Commerce Committee, and the Senate Finance Committee – have successfully negotiated a legislative compromise, but they've been struggling for weeks to come up with offsets that will cover the cost of the 8.4 billion bill. .The federal government could, for example, invoke a never-before-used power called "march-in rights," through which it can override a patent holder's rights if it doesn't make its medicines "available to the public on reasonable terms." (Unfortunately, in already-signed agreements with BARDA, some drug makers have explicitly watered down or eliminated that proviso.) .The loss of a job entitles each of you to a Special Enrollment Period (SEP), but the rules and deadlines will differ for each of you. Because your husband is under the age of 65, he should check options for coverage on the Health Insurance Marketplace (www.Healthcare.Gov). Because of your husband's job loss, your income may be lower and he may qualify for an advance premium tax credit subsidy that would lower the cost of premiums. .The credit will include children who turn age 17 or who are under that age in 2021. .Could you tell me the advantages and disadvantages of life insurance once we start Social Security? Doesn't Social Security pay widow's benefits? Do we really need life insurance if we have a (401)k and IRA savings? .TSCL Gears Up For Busy New Year .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. .While there is no estimate of how large the cuts would be under the legislation that just passed, the Congressional Budget Office estimated that a previous version of the Covid relief bill would have triggered about billion in cuts to Medicare in fiscal 2022 and between and billion from other mandatory programs.