News

  • S 731 Social Security Expansion Act

    We will not go into the details because it has been widely reported on in the news, but that is the major legislation that has preoccupied Congress the last few weeks. .The committee found that AbbVie inflated prices for the drugs while its executives pocketed growing bonuses. The committee's two-year investigation found that AbbVie "pursued a variety of tactics to increase drug sales while raising prices for Americans, including exploiting the patent system to extend its market monopoly, abusing orphan drug protections to further block competition, and engaging in anticompetitive pricing practices." .Millions of people, age 65 and older, have very limited incomes, and minimal savings. In 2016, half of all Medicare beneficiaries had incomes less than ,200. A looming question is whether the official measure still provides an accurate picture of poverty. … Continued

  • Advisory Commission Draft Calls For A Medicare Benefit Redesign

    Of course, members of the subcommittee also spoke, including the opening remarks of the subcommittee chairman John Larson (D- Conn.). Here are a few of his comments: .The Medicare Trustees estimated that the base monthly Medicare Part B premium in 2012 would be 6.60. For seniors who became eligible for Medicare in 2010, that may be a modest savings. Those seniors are probably paying a base premium of 0.50 for Part B. But most seniors will pay more. You should plan accordingly as well since any increases in your Medicare supplemental plan and drug coverage and out-of-pocket costs, would very likely offset what little savings you may get on Part B. .TSCL will be watching closely for the expected executive orders and we will report on them in our legislative update that follows the release of the orders. … Continued

Seventy-eight percent of the prescriptions ordered by one Florida physician were for Schedule II drugs. For one beneficiary, this physician prescribed a 605-day supply of morphine, a 52day supply of oxycodone, a 460 - day supply of fentanyl, and a 34day supply of hydromophone. .We are still learning how effective the vaccines are against variants of the virus that causes COVID-1Early data show the vaccines may work against some variants but could be less effective against others. .The TREA Senior Citizens League News Room is the online resource for reporters to learn more about our work on behalf of seniors. With 1.2 million members, TREA Senior Citizens League is one of the nation's largest nonpartisan seniors groups. If you require additional assistance or would like to request an interview, please contact us. .Now we are looking for viral deliverance when drug development is one of the world's most lucrative businesses, ownership of drug patents is disputed in endless court battles, and monopoly power often lets manufacturers set any price, no matter how extraordinary. A new cancer treatment can cost a half-million dollars, and old staples like insulin have risen manifold in price to thousands of dollars annually. .Finally, two new cosponsors – Representative Daniel Lipinski (IL-3) and Representative Glenn Grothman (WI-6) – signed on to the CREATES Act (H.R. 2212), bringing the total up to twenty-five. The CREATES Act, if adopted, would increase competition in the prescription drug industry by encouraging generic and biosimilar drug manufacturers to introduce their products to the market more quickly. .Contact Social Security and ask about placing a "block" on your account. This would prevent changes from being made regarding your address and payment deposit. The "block" would require that you visit your local Social Security office in person to authorize changes. .In response to the proposed changes, House Minority Leader Nancy Pelosi (CA-12) said, "With their latest budget proposal, House Republicans have made their values very clear: strengthen the special interests, abandon seniors and hard-working families." TSCL agrees that adopting a premium-support model for the Medicare program would be a step in the wrong direction, and we oppose the Budget Committee's efforts to include it in next year's resolution. In the weeks and months ahead, we will continue to advocate against plans to privatize the Medicare program. .The SEC chairman would appoint a director to lead the task force, which would include staff from several offices at the commission. Task force members would not receive additional compensation. .Congressman Elijah Cummings (MD-7) – Chairman of the House Oversight and Reform Committee – announced his committee's investigation into twelve of the largest pharmaceutical companies in January. He said, "The goals of this investigation are to determine why drug companies are increasing prices so dramatically, how drug companies are using the proceeds, and what steps can be taken to reduce prescription drug prices." The first hearing that his committee held in the 116th Congress examined the causes of rising drug prices.