News

  • Benefit Bulletin March 2014

    Workers are never too old to learn new skills, especially if it means access to a better job. .Federal prosecutors recently announced the biggest-ever one-day takedown of a phony Medicare billing scheme. One hundred seven people were charged, including doctors and nurses in seven U.S. cities, with taking part in a scheme to steal 2 million from Medicare. About the same time, the Inspector General of the Department of Health and Human Services reported that federal investigators have uncovered questionable billings at 2,600 drugstores nationwide. A pharmacy in Kansas billed Medicare for more than 1,000 prescriptions each for just two patients. Medicare paid .6 billion to the drugstores whose billings are now being questioned. While those announcements generated great election year headlines, the fact is that seniors and taxpayers can only hope to see a tiny fraction of Medicare's money recovered. .At Wednesday's hearing, Charles Jeszeck – Director of Education, Workforce, and Income Security at the Government Accountability Office (GAO) – unveiled the findings of a study requested by the Aging Committee's leaders back in March of 201The study examined the extent to which older Americans understand the rules that impact their future benefits when making claiming decisions, and the quality of the information provided by the agency and its field offices around the country. … Continued

  • Public Opinion Can Sway Votes In Congress 5

    Analysts are warning about potential drug shortages, but there is a system for checking whether there really is a shortage, using reported shortage tools on the U.S. Food and Drug Administration (FDA) website. You can look up current drug shortages at :https://www.accessdata.fda.gov/scripts/drugshortages/dsp_SearchResults.cfm .A new healthcare cost survey conducted in October 2011 by The Senior Citizens League (TSCL) — one of the nation's largest nonpartisan seniors groups — found that the majority of seniors spent a very significant portion of their Social Security benefits in order to pay for healthcare. The survey asked for information about the out-of-pocket costs that respondents paid in the first six months of 2011, and for comments about how they were managing after two years of receiving no annual cost-of-living adjustment (COLA). .Finally, one new cosponsor – Congresswoman Pramila Jayapal (WA-7) – signed on to Congresswoman Jan Schakowsky's (IL-9) Improving Access to Affordable Prescription Drugs Act (H.R. 1776). The cosponsor total is now up to seventeen in the House. If adopted, it would take several steps to reduce prescription drug costs. It would require the federal government to negotiate lower prices for Medicare beneficiaries, allow individuals to import prescriptions from Canada, accelerate the closing of the Part D "doughnut hole," and cap monthly out-of-pocket drug expenses at 0, among other things. … Continued

The information you do get can seem contradictory. The one piece of advice almost all retirement advisors do agree on is this — starting Social Security at 62 is a bad idea unless you are terminally ill with only a few more years to live. Your benefits will be permanently reduced up to 30% depending on your full retirement age, and if you are working, your benefits could be reduced due to earnings restriction rules. .Assistance in paying for low cost home weatherization to make your home more energy efficient. .This week, the Obama administration released its much-anticipated 2013 budget proposal, and the House-Senate conference committee compromised on a deal to prevent payment cuts to Medicare physicians and extend the payroll tax holiday. In addition, four new cosponsors signed on to the Social Security Fairness Act. .For many, the COLA increase won't be high enough. Those people will once again be held harmless another year. Their Medicare premium increase will be adjusted so that their Social Security benefits won't be reduced, but it may be another year, or even longer, before they see any increase in their net Social Security benefit. .We are still learning how long COVID-19 vaccines can protect people. .That does raise a fair question about conflict of interest: If something was not in the best interest of seniors but would raise millions of dollars for AARP through insurance sales, would AARP put principle ahead of profit? .What Is Tracked In Determining The COLA? .A number of Social Security recipients told their stories to the members of the subcommittee and explained the problems they face, as well as their desires for improvements to the program. .Call your local State Health Insurance Assistance Program (SHIP) and ask for free counseling from a Medicare counselor. You can find local contact info here: https://www.shiptacenter.org. Many of these programs operate through local agencies on aging or senior services departments. Counselors can help you over the phone from home.