News

  • Legislative Update Week Ending August 10 2018

    Initial coverage stage: 4.61 from the lowest-cost drug plan but, as you have discovered, the total cost of the drug is so expensive that you rapidly use up the initial ,820 in the first three months once you factor in the portion that your drug plan pays. .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. .The witnesses at this hearing defended a number of payment provisions that may expire if Congress doesn't act soon, including add-on payments for mental health and ambulance services, and hold harmless payments for rural hospitals. When looked at separately the costs of these provisions seem minor, but if each of them were to expire at the end of this year, the federal government would save billion. The potential savings attracted most at the hearing, but Ranking Member Pete Stark (CA) reminded the Subcommittee that many of the provisions "ensure critical access to needy Medicare beneficiaries." … Continued

  • Issues Social Security Reform Faqs

    The costs shown in the chart below assume coverage started on September 1, 201Costs include premiums, deductibles, and out-of-pocket cost sharing for 201Costs are estimates, and actual costs may vary somewhat depending on the pharmacy. The prices in our chart are likely to change for 2018. .If you take one or more prescriptions, you may be shocked to learn how much you can save by comparing plans based on the prescriptions you use and switching drug plans, when you find a better match. This is an important financial habit to get into EVERY year. Drug plans routinely raise premiums and co-pays, and invariably what your best choice was in 2006 no longer holds true today. Although everyone's savings experience will be different based on the particular prescriptions they take, consider these cases from my files**: .TSCL will be keeping a close eye on the budget discussions in the weeks ahead since a government shutdown could impact the Social Security and Medicare programs negatively. We will post updates here in the Legislative News section of our website, or over on our Facebook page. … Continued

What would you say are the three most important decisions to maximize Social Security? .On Tuesday, the Senate HELP Committee held a bipartisan hearing to discuss the rising costs of prescription drugs. Members of the committee heard from four expert witnesses, including Doctor Paul Howard – Director of Health Policy at the Manhattan Institute – and Doctor Gerard Anderson – Professor of Medicine at Johns Hopkins University School of Medicine. .Near the end of the hearing, the focus finally shifted to options for fixing the financing shortfall. Charles Blahous and Robert Reischauer offered some suggestions. Mr. Blahous recommended that Congress gradually raise the age of retirement to seventy, that they reduce benefits progressively by modifying the benefit formula, and that they offer more incentives for workers who delay their retirement. Mr. Reischauer offered similar suggestions, but added that he would like to see the taxable maximum raised to cover 90% of wages. .To get information about Medicare supplement premiums, first select the plan offering the coverage you are interested in, "A" through "N". You can find a listing of these plans on page 82 of the 2017 Medicare & You handbook but not all states will have all plans. Once you have chosen the plan then you can simply compare premiums between insurers. The coverage for each type of plan is just the same, but premiums between various insurers can vary tremendously. .Manufacturers have traditionally claimed that only the lure of windfall profits would encourage them to take the necessary risks, since drug development is expensive and there's no way of knowing whether they're putting their money on a horse that will finish first, or scratch. .Medicare Advantage plans are booming in popularity with retirees, as a low-cost health coverage alternative. In 2016, the plans cover more than 18 million people, but troubling audits indicate that many plans are overbilling the government for many, if not the majority, of the patients treated. Because overcharges drive up Medicare program spending, the higher costs are shifted to all people enrolled in Medicare through rising Part B premiums— even to people who never enrolled in a Medicare Advantage plan. .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. .To learn more about your Medicare benefits download a copy of the "2011 Medicare & You" handbook by visiting www.medicare.gov or call 1-800-MEDICARE ( 7). .The CBO said earlier this year that if the Congress did not take action to address the shortfalls, the balances in the two trust funds would be exhausted within the next 10 years: Medicare's Hospital Insurance (HI) Trust Fund (in fiscal year 2024), and Social Security's Disability Insurance (DI) Trust Fund (in fiscal year 2026)