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Tscl Files Third Foia Lawsuit Feed
What strategies are key to better managing healthcare costs in retirement? .Currently, the IRS allows Americans with high health care costs to deduct certain out-of-pocket expenses from their taxes. This deduction makes a big difference for those battling high medical costs as a result of sickness or age-related complications. .Recently a journalist, familiar with my estimates of cost-of-living adjustments, contacted me for my thoughts on the topic.. What's Missing From Your Social Security Check? For Many — 7 , editor … Continued
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Legislation Would Make It Easier For Low Income Beneficiaries To Qualify For Medicare Assistance Feed
Social Security Loss of Buying Power report including study methodology available for download. Loss of Buying Power Report. .Fraud, waste and abuse are costing taxpayers and seniors an estimated billion a year, but Medicare fails to recover overpayments about 80 percent of the time. The Inspector General recently said that of the 6,287,546 in overpayments identified through the 30-month period ending March 31, 2009, the Centers for Medicare and Medicaid Services (CMS) reported collecting only ,168,50But it gets even worse. The OIG said that it could not verify that the ,168,502 had been collected as reported because CMS did not have an adequate system for documenting overpayment collections. .This week, two Members of Congress – Rep. Ted Deutch (FL-21) and Sen. Mark Begich (AK) – re-introduced the Protecting and Preserving Social Security Act (H.R. 649 and S. 308), a bill that would base the calculation of Social Security COLAs on the Consumer Price Index for Elderly Consumers (CPI-E), and gradually eliminate the cap on income subject to the payroll tax. … Continued
Resources: The Medicare Rights Center has an online tool called "Medicare Interactive" that can answer more of your questions about prescription drug coverage. Try it at www.MedicareInteractive.org. .It pays to compare your options, but you need to do this soon, before the Medicare Open Enrollment period ends December 7th. For help shopping for a new drug or health plan locate Medicare benefit counselors in your area. Visit the State Health Insurance Program website — https://www.shiptacenter.org. .Democrats currently have an eight-seat majority in the House, meaning 10 defections could doom the legislation. Of those 10 members, seven got contributions last cycle from PhRMA, according to Federal Election Commission records. Six received donations from AbbVie's political action committee. .Something does need to happen. Seniors haven't received any cost of living adjustment (COLA) over the past two years — an unprecedented situation that hasn't occurred since the annual benefit adjustments began in the 1970's. At the same time, the cost of healthcare, petroleum products, and most recently, food and other consumer goods, are taking big jumps, eroding the purchasing power of benefits. .Lawmakers compromised on the policy parameters of a long-term solution more than a year ago, but since then, they have been unable to come up with an offset to cover the cost of the 4 billion package. This week, Rep. Tom Price (GA-6), Chairman of the House Budget Committee, said, "We spend .6 trillion a year in this town – to come up with a pay-for ought to be relatively easy. There are things we have used before. There are areas in federal pensions … and rescission money that's available out there. We ought to be able to find some resources to pay for this patch." .Worst of all, patients don't qualify for Medicare coverage of follow-up nursing home care, because Medicare requires three consecutive days in the hospital as an "inpatient." That leaves the patient and their families on their own to figure out how to pay nursing home bills, or to go without. .In mid-December there were reports that the Administration expected to begin sending out President Trump's promised 0 drug discount cards to seniors by Jan. However, we have not heard any report about whether or not that has begun. We will keep you posted when there is new information about the distribution of the cards. .The new study takes a closer look at the Social Security "hold harmless" provision. Typically, Social Security benefits tend to grow slightly each year as COLAs compound over time. But when the Medicare premium increases more than an individual's COLA that can trigger this special provision of law. Hold harmless protects Social Security benefits when the dollar amount of an individual's annual COLA increase is not sufficient to cover the increase in the Medicare Part B premium increase. If the increase in Medicare Part B premium would cause an individual's net Social Security benefit to be less than it was the year before, then the Part B premium is reduced to ensure the individual's Social Security benefit does not decline. .By Noah Y. Kim SEPTEMBER 10, 2020 Kaiser Health News
