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  • 70 Of Older Voters Think Social Security Payroll Tax Should Apply To All Earnings

    There is no simple, direct mechanism for regulators or legislators to control pricing. Our laws, in fact, favor business: Medicare is not allowed to engage in price negotiations for medicines covered by its Part D drug plan. The Food and Drug Administration, which will have to approve the manufacturer's vaccine for use as "safe and effective," is not allowed to consider proposed cost. The panels that recommend approval of new drugs generally have no idea how they will be priced. .Key Bills Gain Support in Congress .Many seniors can save substantially on drug costs by using mail order, and it's worth looking into. Be sure to use your drug plan's "preferred provider" mail order service. If you go outside of your drug plan's mail order network, your plan may not cover your drugs. … Continued

  • Best Ways Save April 2017

    In January, one-third of all Medicare beneficiaries will see a Part B premium increase of 22 percent – the highest increase in 27 years. Do you believe Congress should take action like it did last year to prevent the dramatic increase? .This Part B premium cost - shifting includes shifting those higher costs to state Medicaid budgets that pay the Part B premiums for low-income Medicare beneficiaries — which account for about 19 percent of all Medicare recipients. If this would occur in 2021, this would add yet another fiscal shock to state budgets that are already strained beyond anticipated budgets due to the coronavirus pandemic. .Since you don't receive health insurance coverage where you work, you will need to enroll in Medicare Part B, which covers doctors and hospital outpatient services when you first become eligible for Part B. That period starts three months before you turn 65, includes the month you turn 65 and ends 3 months after the month you turn 65. … Continued

Early this week, the Social Security Administration (SSA) announced that it would immediately remove the text requirement from the online account login process. TSCL first voiced concerns about the new security policy two weeks ago, when we learned of the change. Senior policy analyst Jessie Gibbons told Karen Damato of Money: "We're concerned that the abrupt change will cause a lot of confusion and frustration among older Americans, many of whom don't have reliable access to text-enabled cell phones." .Paula's total premium costs came to 2.90 per month for the rest of 2007 rather than 0 per month, a savings of .10 per month in premiums alone. In addition, because she found a more appropriate drug plan, she will save an estimated additional .25 per month in drug costs in 2007. .TSCL's members and supporters are sending in thousands of petition signatures to fight the cuts that threaten senior benefits. Senior voter outcry, especially in an election year, is a highly effective means to make lawmakers wary of making major changes. .How can I get in contact with Medicare? .This week, three new cosponsors – Reps. Rosa DeLauro (CT-3), Alcee Hastings (FL-20), and Robert Scott (VA-3) – signed on to the Strengthening Social Security Act (H.R. 3118). The cosponsor total is now up to thirty-three. If signed into law, the bill would reform the Social Security program in three ways: it would adjust the benefit formula, resulting in more generous monthly benefits; it would adopt a Consumer Price Index for the Elderly, resulting in more accurate cost-of-living adjustments; and it would lift the cap on income subject to the payroll tax. TSCL enthusiastically supports the Strengthening Social Security Act since it would extend the solvency of the Trust Fund responsibly, without cutting benefits. We were pleased to see support grow for it this week, and we look forward to helping build support for it in the coming months. .To avoid significant cost increases and unexpected benefit cuts next year, TSCL encourages its members and supporters to examine all MA plan offerings closely before making a selection or allowing a plan to automatically renew. The open enrollment period ends on December 7th, and coverage begins on January 1st. In the meantime, TSCL will continue to monitor the status of the MA program and advocate for legislation like the Medicare Advantage Participant Bill of Rights Act, which would protect MA enrollees from unfair and abrupt changes to physician networks. .Legislation to Control Drug Prices Possible This Year? .The authors of the study concluded that unless the overall trend stabilizes or is reversed, or high cost-to-claim drugs are addressed, this trend will place an increasing burden on the neurologic Medicare budget. .To get a list of supplemental plans offered in your state, insurers and premiums, check your state's insurance commission's website for published guides comparing Medicare supplement premiums. Look up the plan you are interested in to compare premiums in your area. Be sure you look at the quotes for people who are your age, but do read on to get a feel for how premiums rise with age. Once you pin down a few likely insurers, you will need to call the insurer to confirm premium quotes for your zip code.