News

  • Legislative Update April 2018

    In his opening statement, Budget Committee Chairman John Yarmuth (KY-3) said: "[Social Security] is facing serious long-term funding shortfalls, with promised benefits facing cuts as high as 20 percent as soon as 2035 if Congress does not act. Cuts of this level would be devastating for the individuals who rely on Social Security … Congress has a responsibility to act and honor the promise of retirement security." .Low-income seniors would receive assistance from Medicaid, and those with the greatest health expenses would receive additional help from the government. According to the plan's sponsors, The Congressional Health Care for Seniors Act would reduce the deficit by trillion over ten years, and it would save the average enrollee ,500 in out-of-pocket expenses each year. However, a recent poll conducted by the Kaiser Family Foundation shows that a majority of Americans – seventy percent – would prefer to keep Medicare as is, "with the government guaranteeing seniors health insurance and making sure that everyone gets the same defined set of benefits." .It remains unclear, however, how broadly the order will be implemented — the executive order does not specify what drugs it covers. Instead, the order directs the Food and Drug Administration to decide which medicines will be subject to the new requirements. Certain drugs can also be exempted from the executive order if they are too expensive to make in the U.S. or the U.S. is not already making them. … Continued

  • Best Ways Save February March 2018

    While 401(k) plans have enjoyed a decade of relatively strong returns recently, these plans carry greater risk and place responsibility on individuals for saving, investment decisions, and management. "These are three skills sets that most of us have never adequately learned, much less ever expected to practice after we retired," says Johnson. "One simple mistake can affect your standard of living in retirement for years," Johnson says. .The Congressional Budget Office (CBO) projects that spending for Social Security, Medicare, other major healthcare programs, defense, and interest payments alone would require every dollar of revenue in about eight years, leaving nothing left over for the rest of the federal budget. The CBO further says that federal debt cannot grow faster than the nation's output indefinitely without causing long-term damage to the government's finances and broader economy. .Since 2000, cost-of-living-adjustments (COLAs) increased Social Security benefits a total of just 43 percent. Meanwhile typical senior expenses have jumped 86 percent, according to TSCL's 2017 Loss of Buying Power Study. The following table illustrates ten of the fastest growing costs since 2000. … Continued

What is the range of the Notch years? .Advancing age puts many retirees at risk of oral health problems. A common cause of cavities is dry mouth, a side effect of more than 500 medications. Periodontal disease is widespread, even though it can be prevented with regular visits to the dentist and cleanings. In addition, research shows a strong link between oral health and a host of other diseases. .The new guidance is as follows: .Senate Finance Committee Discusses Drug Demonstration .The costs shown in the chart below assumed plan coverage started on September 1, 2017 for a new enrollee. The Medicare Drug Plan Finder cost estimates include premiums, and out-of-pocket cost sharing for 201Costs shown are estimates and the actual costs may vary somewhat depending on pharmacy used. The prices illustrated in the chart are likely to change for 2018. .Using the tool takes computer know-how, and interpreting the results can take some special training. You can get free unbiased help through your State Health Insurance Assistance Program (SHIP). Call your local Area Agency on Aging. Check the number in your local phone book and when you call, say you need help comparing drug plans. .Under 1977 Projections Under Actual Conditions .The CBO estimates that replacing Medicare with a premium support system would save the federal government as much as 5 billion over ten years.[3] The CBO also estimates that premiums paid by affected beneficiaries, however, would be about 30 percent higher on average by 2020 than the current projected Part B premium. In addition, the CBO said that shifting seniors to private plans would affect access to providers, a problem that many seniors are experiencing with Medicare Advantage plans now. .While the provision is valuable protection, it doesn't apply to all Medicare Part B enrollees. Roughly 30% of all Part B beneficiaries will not be protected in 201Those people are facing a Part B premium increase of about 22.3%, from 1.80 per month to 9.00, the highest increase in 27 years. People who are not protected by the hold harmless provision include: