News

  • Social Security Medicare Questions March 2011 Advisor Feed

    Sources: "The Out-of-Pocket Cost Burden For Specialty Drugs in Medicare Part D in 2019," Juliette Cubanski, Wyatt Koma, Tricia Neuman, Kaiser Family Foundation, January 201https://www.kff.org/medicare/issue-brief/the-out-of-pocket-cost-burden-for-specialty-drugs-in-medicare-part-d-in-2019/ "How Trump's Latest Plan to Cut Drug Prices Will Affect You," Katie Thomas and Reed Abelson, The New York Times, February 5, 2019/ .As we said above, the devil is in the details. Rather than signing four "executive orders," the only real executive order was the one on housing. The other three actions are marked as "memorandum," which carries less authority. .Negotiations thus far seem to be moving slowly, and it remains to be seen whether or not the conferees will reach an agreement before the looming deadline. TSCL will keep a close eye on the evolving negotiations, and we will continue to inform the conferees about the harms that would result from including harsh benefit cuts in a budget package. For updates, visit the Legislative News section of our website. … Continued

  • Ask The Advisor January 2012

    Thus beneficiaries will continue to be hit with steep costs when they fall into the coverage gap in the foreseeable future. To keep prices as low as possible in the doughnut hole, beneficiaries can look into using mail-order pharmacies, which require 90-day prescriptions and are often cheaper per dose than a 30-day supply. People with limited incomes may also qualify for Extra Help or other pharmaceutical assistance programs. TSCL also recommends that Part D beneficiaries talk to their doctors at each visit to discuss potential alternatives to their high-cost prescriptions. .The Senior Citizens League is proud to endorse these three bipartisan bills and, in the months ahead, we will urge lawmakers to sign them into law. For frequent progress updates on these bills and the work of the Senate Finance and House Oversight Committees, follow TSCL on Twitter or visit the Legislative News section of our website. Additionally, you can share your story about rising prescription drug prices with our team right here. .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. … Continued

Now the Centers for Medicare & Medicaid Services (CMS) has told hospitals they can't hide their prices from web searches. .Comprehensive Social Security Reform ."If you want to save money on health and prescription drug plans, it's more important than ever to compare and switch now during the fall Medicare Open Enrollment period which ends December 7th," Cates says. Free, unbiased, one – on – one counseling is available through State Health Insurance Assistance Programs (SHIP), many of which operate through local agencies on aging. .In addition, on Wednesday, the Social Security Administration announced that seniors will receive a 1.5 percent Social Security cost-of-living adjustment (COLA) in 2014, which is slightly lower than 2013's 1.7 percent COLA, and is far lower than the 3 percent average COLA over the past thirty years. Officials also announced on Wednesday that the maximum amount of earnings subject to the Social Security payroll tax will increase in January from 3,700 to 7,000. In a press release, SSA noted that about 10 million workers will pay higher taxes in 2014 as a result of the increase. .Medicaid is the major source of coverage for an estimated 6 million seniors who need long-term care. Last year, long-term care services required one-third of the federal Medicaid budget, more than 0 billion. States, which share the program's cost, spent tens of billions to match that amount. .If signed into law, the Medicare Physician Payment Innovation Act would repeal the sustainable growth rate (SGR) formula for physician reimbursements, and it would set up a five-year trial period during which the Centers for Medicare and Medicaid Services would test and evaluate new payment and delivery models. TSCL strongly believes that the SGR formula breeds uncertainty in the Medicare program for both physicians and beneficiaries. Many doctors have stopped accepting Medicare patients, and many more are threatening to do so if a permanent solution is not established soon. We believe that Rep. Schwartz's bill would bring increased stability to the Medicare program, and we were pleased to see four new cosponsors announce their support for it this week. .With over 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of The Retired Enlisted Association. .The article continued, "The NBER study zeros in on how increases in prescription drug costs among Medicare recipients affect patient choices and comes to a stark finding: ‘Patient cost-sharing introduces large and deadly distortions into the cost-benefit calculus,' the report said." .One of our purposes in visiting with those offices was to find out why they do not support the bill and to see if there is any hope that some compromise to the bill could be reached. The main reason they do not support the Grassley-Wyden bill is because it has a provision that they believe would, in essence, result in government price-setting of drug prices and would be a first step toward a one-payer (meaning government) health care system. Each office mentioned other bills that they might support but there is not one bill that the Republican majority is currently in favor of and that might have a chance to pass. It was also stated that because this is an election year there is a very short timeline for action to be taken.