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  • Ask The Advisor November 2009 Advisor

    The Congressional Budget Office recently released a report noting that Medicare could save 500 billion dollars if the eligibility age was raised from 65 to 6The figure would mean five percent savings, enticing Americans to work longer and causing the size of the labor force and total output of the economy to increase by one percent. According to the report, "Many of the people who lose access to Medicare would pay higher premiums for health insurance, pay more out of pocket for health care, or both." .Last week, the two leaders of the Republicans and Democrats in the Senate finally were able to reach an agreement on organizing the Senate for the next two years. An agreement was needed because each party has 50 Senators. Because of that, Vice President Kamala Harris, who is President of the Senate as provided for in the Constitution, will break any tie votes that may occur. That includes the vote to organize the Senate. .The number of employees at your company determines whether you must enroll at age 65, or whether you can delay, and keep your employer insurance. Because you work for a company with fewer than 20 employees, Medicare pays first once you turn 6That means, if you miss your initial enrollment deadline, you would not be able to use your former employer coverage, even if you and your employer continued to pay the premiums. People who work for companies with more than 20 employees may delay enrollment and keep their current coverage as long as they meet certain rules. … Continued

  • Social Security Reform Feed

    The irony is that when Mitch McConnell (R-Ky.) because Senate Majority Leader in 2015 he said the Senate must return to "regular order," which means getting its work done in an orderly fashion and on time. .This study illustrates why legislation is needed to provide a more fair and adequate COLA. To put it in perspective, for every 0 worth of groceries a retiree could afford in 2000, they can only buy worth today. To help protect the buying power of benefits, TSCL supports legislation that would provide a modest boost in benefits and base COLAs on the Consumer Price Index for the Elderly (CPI-E) or guarantee that the COLA would be a minimum of 3 percent. To learn more, visit . .Congress should allow Medicare to negotiate drug prices by tying U.S. prices to prices paid in other industrialized countries like Canada, Great Britain and Japan where prices are lower. — 85 percent support, 13 percent not sure, and only 2 percent opposed. … Continued

First, one new cosponsor – Senator Dianne Feinstein (CA) – signed on to the Patient Right to Know Act (S. 2554), bringing the total up to seven. If adopted, this bipartisan bill would ensure that pharmacists are never prohibited from telling patients when their prescriptions would be cheaper out-of-pocket than through their insurance coverage. .By Mike Watson, TSCL Legislative Assistant .A seventeen-member conference committee comprised of Democrats and Republicans from the House and Senate is currently working towards a long-term bipartisan deal to keep the federal government operating. Should they fail to reach a compromise before the looming deadline, it will shut down once again. .A husband's death can mean enormous financial hardship for women. Under current law it generally means a big drop in Social Security income, going from two Social Security payments each month to just one. When the husband passes away, the widow gets a benefit that's 100% the amount the deceased spouse was entitled to, if higher than her own retirement benefit. For example, if the couple received a combined benefit of ,400 per month, and the husband's benefit is ,600, then the widow would just get the ,600 and lose her own 0 per month in benefits. .The Senior Citizens League supports legislation that would allow Medicare to negotiate drug prices, and limit drug price increases to the rate of inflation. .Is the annual amount of coverage capped? Dental plans often cover only a certain amount of dental services, up to a cap such as 0 to ,500 per year. The cost of preventive services such as cleanings and X-rays is generally not subtracted from the maximum, but it's important that you find out. If you think you will be needing pricey services soon, then look for the plan that offers the highest amount of coverage at the lowest cost. ."Congressional Pay Grows 15 Times Faster Than Social Security Checks" .The first new rule affects Medicare Part B drug costs, which are typically infused or injected drugs used mainly in the treatment of cancer. The intent is to cap the cost of those drugs at the lowest price that drug manufacturers receive in other countries and to pay doctors a flat fee for each dose of a drug, instead of a percentage of each drug's cost. .The legislation now calls for a "one-time, one-year increase in the Medicare physician fee schedule of 3.75 percent" in 2021 "to provide relief during the COVID-19 public health emergency."