Ask The Advisor Aprilmay 2013
He announced that he would meet with the drug companies to discuss his plan, but top company executives subsequently refused to meet with him. The drug companies did develop their own proposal but it was rejected by the President. .The Drug Plan Finder can help you get very specific information because you can input the prescriptions you currently use and then find the lowest cost plan that covers your drugs. However, the lowest cost plan may not always be your wisest choice, especially since your doctor may change your prescriptions in the future or you may be close to the doughnut hole coverage gap. You may benefit by spending a little more and getting a plan that covers 95% of all drugs and covers at least generics in the gap. .Ohio Sen. Sherrod Brown announced a consumer price index bill for elderly consumers on Wednesday. Under the Consumer Price Index for Elderly Consumers Act, the cost-of-living adjustment (COLA) would be amended to use a formula that reflects the spending patterns of seniors. The current index is based on the spending patterns of urban workers. … Continued
Other Legislation Also Targets Scams And Fraud Against Seniors
At the time of writing this update on Friday morning, the vote had not yet occurred. It is expected to take place on Friday afternoon, before the non-partisan Congressional Budget Office has a chance to evaluate the final version. It remains unclear whether or not the AHCA will gain the support needed to win passage. If adopted, the AHCA will move to the Senate, where its future remains even more uncertain. If it fails, Republican leaders on Capitol Hill have said they will move on to other legislative priorities, like tax reform. .Budget Committee Debates Future of DI Program .The hold harmless provision in the Social Security Act (§1839[f]) is an important protection that ensures an individual's net Social Security benefit will not decrease from one year to the next because of an increase in the Part B premium. … Continued
Since 2000, COLAs have increased Social Security benefits a total of 55 percent, yet typical senior expenses through July 2021 grew 104.8%. The average Social Security benefit in 2000 was 6 per month. That benefit grew to ,262.40 by 2021 due to COLA increases. However, because retiree costs are rising at a far more rapid pace than the COLA, this study found that a Social Security benefit of ,671.20 per month (8.80 more) would be required just to maintain the same level of buying power that 6 had in 2000. .An immigration program launched by the Obama Administration two years ago has issued valid, work-authorized Social Security numbers to about 600,000 applicants who attest to be in the country illegally. The program, known as "Deferred Action For Childhood Arrivals," is one of a series of administrative amnesty initiatives by President Obama to stop deportations of immigrants and let undocumented immigrants who meet the qualifications work in this country despite illegal status. Now immigration activists are pressuring President Obama and Members of Congress to expand the Deferred Action program, or pass immigration reform. . I was born May 10, 1960. Can you tell me my retirement age? I've read that the retirement age for Social Security is rising. How does this affect the amount that I receive in benefits? Can I still retire and receive benefits at age 62? .At the same time, new claims for Social Security benefits are growing, as many older workers who have lost jobs file for Social Security benefits earlier than planned. The combined impact increases pressure on Social Security to address solvency issues. A future solvency option supported by more than 72 percent of The Senior Citizens League's survey participants is to apply the Social Security payroll tax to all earnings, instead of just the first 7,700 in wages. The survey was conducted from mid - January through April of this year. .New Analysis Says Social Security/Medicare in Worse Shape Now than Earlier This Year .Medicare and many state Medicaid programs are in the process of transitioning to value-based medicine that would change the way government healthcare programs pay for care. Doctors and healthcare providers are given incentives to improve health and to reduce the incidence of chronic disease — in order to lower spending on healthcare and provide better care at a lower cost. There's emphasis on giving providers single payments for a "bundle of services" instead of paying for each service, checkup or X-ray. This reimbursement system differs from traditional fee-for-service Medicare, as well as Medicare Advantage plans' "capitated" payments, in which providers are paid more for sick patients, regardless of health outcomes. .However, there are several steps an importer would have to take to be certified to import the drugs and they are costly. If the current FDA rules are kept in place it could be that states would not see significant savings in the costs of drugs, or even enough savings to justify the cost of setting up such a program. .Town Hall Question: Many doctors are threatening to stop seeing Medicare patients if the sustainable growth rate formula is not repealed and replaced. What do you feel should be done about this? .The Medicare portion of spending, officials say, grew 6.2 percent in 2011, after growing just 4.3 percent in 20A major factor holding down costs was the recession. As tens of thousands of working seniors lost jobs, and their healthcare coverage, other seniors were hit by the crash of retirement savings and real estate values. This was followed by two years without any cost-of-living adjustment (COLA) in 2010 or 2011.