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  • The Advisor Archive

    During the most recent years for which data are available (2000-2004), the total number of mismatched wage reports jumped from 217 million at the end of 1999 to 264 million by 2004, an average of more than 9.3 million per year—82% higher than during the 1990's and more than double the rate of the 1980's. .These overpayments occur because payments to plans are adjusted to pay more for older and sicker enrollees, and less for enrollees who are young and healthy. As well documented by the Medicare Payment Advisory Commission, Medicare Advantage plans use a variety of strategies to "document" enrollee medical conditions, including repeated, calls to homes in attempts to "update" health histories, and to schedule home visits from nurses to conduct health risk assessments even when patients have emphatically declined the visit. .I turn 65 later this year and I'm in good health. How much will Medicare premiums cost, and what other costs will I have? I do not get health insurance where I work. … Continued

  • Ask The Advisor 2

    A deductible is the amount of money you must pay before your coverage starts. Many Medicare supplements (Medigap policies), Medicare Advantage plans, and drug plans cover Medicare's deductible as part of the coverage you purchase. Medigap polices "B" through "J" pay the Part A dedictible, and Plans "C", "F" and "J" also cover the Part B deductible. Medicare Advantage Plans and prescription drug plans may or may not have a yearly deductible depending on the type of plan you choose. There are also federal and state government programs for low-income seniors that provide assistance for this cost. .Improving the Social Security cost-of-living adjustment (COLA). According to TSCL's research, Social Security benefits have lost over 30 percent of their buying power since 2000 due in large part to inadequate COLAs and rising health care costs. The bipartisan Fair COLA for Seniors Act (H.R. 1553) would improve the annual COLA by adopting the Consumer Price Index for the Elderly (CPI-E), which more adequately measures the inflation seniors experience. .Now, Members of the House are planning to vote on a potentially revised CR next Wednesday, which means that the Senate will either be called back to Washington for a vote during their upcoming recess, or they will wait until they return at the end of the month, just days before the September 30th deadline. … Continued

Both my wife & I are Notch Babies, and should have had higher Social Security benefits than we got. Instead of Congress fighting amongst themselves, we would be better served if they would pass a bill to catch up on our money. Are they waiting for us to die? I am 91, and my wife is 8It's a struggle to live on our benefits. .But if mature workers are not working and earning, they can't make critical life investments in themselves, their families, and their futures. .If it has been less than 2 weeks since your shot, or if you still need to get your second dose, you are NOT fully protected. Keep taking all prevention steps until you are fully vaccinated. .Last - don't let all the political spin about Social Security scare you. The program is not going broke. Social Security does face a long-term financial challenge. Even when the Social Security Trust Fund becomes exhausted there would still be sufficient assets from payroll taxes to pay about 75 percent of promised benefits. Although that isn't a fair or acceptable outcome — a far more likely one — Congress will take action to correct the imbalance. .Senator Sanders said at the hearing: "Constituents are sick and tired of getting ripped off by drug companies and paying the highest prices in the world … The real issue is whether Congress has the guts to take on the powerful pharmaceutical industry." .Shoring up the Medicare Part A Trust Fund will be more difficult. Simply cutting payments to hospitals would not be in the best interests of patients or hospitals, because many medical centers are already faltering financially. .The Senior Citizens League enthusiastically supports S. 2554, H.R. 1251, and H.R. 4704, and we will continue to advocate for their passage in the months ahead. For more information, visit the Bill Tracking section of our website. .CMS said in a press release that this change is to provide patients and their doctors more options and to lower costs by promoting more competition among hospitals and independent surgical centers. But while these surgeries will be removed from the inpatient-only list, the government did not approve any of them to be performed anywhere else. Patients will still have to get care at hospitals but, because these services have been reclassified, they will be billed under Medicare Part B as outpatient services, instead of Medicare Part A for hospital services. Medicare beneficiaries pay a bigger share of the costs under Part B, than under Part A for an inpatient stay, and those costs would also drive up Medicare Part B premiums in the future. .The Inspector General found .1 billion in wages and self -employment income was reported in tax years 2006-2011 under the 67,000 numbers. The wage reports were placed in the Social Security Earnings Suspense File. The problem with placing these numbers into the Earnings Suspense File, however, allows for the earnings to potentially be claimed and used for determining benefits in the future.