News

  • Social Security Medicare Questions June 2011 Advisor Feed

    Expanding Medicare coverage to include dental care. Millions of seniors are afflicted with age-related oral health issues. Yet under current law, the Medicare program is prohibited from covering most routine and emergency dental procedures, including fillings, root canals, extractions, and cleanings. The Medicare Dental Benefit Act (S. 22) would expand Medicare Part B coverage to include basic dental services and ensure that older Americans have access to the primary and preventive care that is needed to ensure good health in retirement. .Acting Social Security Commissioner Carolyn Colvin said, "I have directed an immediate halt to further referrals under the Treasury Offset Program to recover debts owed to the agency that are 10 years old and older pending a thorough review of our responsibility and discretion under the current law." But a week after the announcement The Washington Post reported that "many taxpayers say the government is still seizing refunds." The Social Security Administration said letters to those taxpayers went out before the announcement, but it remains unclear whether they will get their money back. .Why Does My Doctor's Office Need to Call My Insurer Before Scheduling a CT Scan? … Continued

  • Legislative Update For Week Ending November 16 2012

    Direct federally funded community health centers to pass discounts they now get for insulin and EpiPens directly to low-income patients. .The move is a long time coming. Legislation passed in 1996 made illegal immigrants ineligible to receive federal benefits. But according to an audit performed by the Inspector General of the Department of Health and Human Services, more than 29,185 illegal immigrants had improperly received Medicare benefits from 2009 through 201A review of 133,541 claims revealed that Medicare had paid more than .6 million in claims on behalf of 2,575 unlawfully present individuals. .Cutting the payroll tax permanently, which President Trump said he would seek to do if he is re-elected, would bring insolvency even closer and make the whole situation so much worse. … Continued

In addition to a growing number of people affected by the tax, those who are affected pay a growing share of their benefits in taxes as well. The Congressional Budget Office estimates that 52 million Social Security beneficiaries paid 6.7% of their Social Security benefits as income tax in 2014, and projects that will rise in the future to 10% or more. .Social Security survival strategies with COLA only at 0.2% .This week, lawmakers in the House and Senate remained in their home states and districts for a week-long holiday recess. They are expected to return to Washington on Monday, June 3rd. .Lawmakers Discuss Drug Costs with President Trump .The Social Security Administration also announced on Thursday that the Social Security payroll tax cap will rise from 8,400 in 2018 to 2,900 in 201Most American workers contribute 6.2 percent of every paycheck to the Social Security program, but high earners will stop contributing to the program once they reach 2,900 in income next year. That means the wealthiest American CEOs – many of whom are billionaires – will be finished paying into the Social Security program just a few hours or days into 2019. .In recent years, inflation and COLAs have been virtually flat, averaging just 1.1% per year since 2010 — with no COLA at all in 2016 and just a 0.3% COLA in 201Slow growth in Social Security benefits, particularly when it continues over a period as long as 8 years, has a very significant impact on the overall amount of lifetime income that retirees can expect from Social Security. When retiree costs climb while benefits remain flat, people wind up having to dig more deeply into retirement savings (if they have any), spending more quickly than anticipated. Many people without other pensions or savings are forced into debt. About one in four low-income older Americans is dependent on programs that provide assistance with essentials like food and healthcare costs. . Contact your doctor's office and alert them to this dilemma. Ask if they have emergency samples of Lantus and your blood pressure medicine that they can provide, or if they can give you the contact number of programs that can help you. .Finally, two new cosponsors – Representative Jim Renacci (OH-16) and Representative Beto O'Rourke (TX-16) – signed on to the bipartisan CREATES Act (H.R. 2212), bringing the total up to twenty-one. If adopted, the CREATES Act would increase competition in the prescription drug industry by encouraging generic and biosimilar drug manufacturers to introduce their products to the market more quickly. .House Democrats also Unveil Proposals to Lower Drug Prices