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  • Ask The Advisor Part D Fails Enrollees Who Take Expensive Drugs Feed

    Congress has spent much of its time over the past two years locked in a rigidly - partisan standoff over the federal budget deficit. But TSCL's new 2012 Senior Survey results suggest that lawmakers may not be paying close enough attention to senior voters — something that may come back to haunt them come November elections. They may be retired but, to seniors, jobs — not benefit cuts — are the key to cutting the federal deficit. .Before the New Year even started, TSCL had been working to convince Members of our new Congress of the immediate need to replace 2021's meager 1.3% cost-of-living adjustment (COLA) with a 3% emergency inflation adjustment. We strongly support "The 3% Emergency COLA Act," introduced by Representatives Peter DeFazio (OR-4) and John Larson (CT-1) and efforts to include provisions of this bill in emergency stimulus funding legislation. .No change to the taxation of Social Security benefits: Up to 85% of Social Security benefits can be subject to taxation. When that provision was first enacted into law in 1983, it was expected to affect only 10% of households with Social Security income. But unlike tax brackets, the income thresholds subjecting Social Security benefits to taxation have never been adjusted. Today, just as in 1983, individuals with incomes greater than ,000 (or ,000 for married couples filing jointly), pay taxes on their Social Security benefits. According to TSCL surveys, roughly half of all households receiving Social Security pay tax on a portion of their benefits. Not only are the numbers who pay the tax growing, but people are paying taxes on larger portions of their Social Security income as well. … Continued

  • Best Ways To Save To Save July 2020

    The conclusions of this study were echoed by a different study published in the medical journal Neurology. .Older adults age 65 and up have been disproportionately impacted by COVID-1Because retirees depend on Social Security for a major share of their income, they tend to spend their benefits on essentials right away. We feel that boosting the inflation adjustment is an important way to get crucial extra cash to older Americans and back into our nation's economy. .Even Republicans who support changing the regulations are opposed to putting it in the NDAA and they may support an effort to pass it and try to override the President's veto, which would be the first of his presidency. … Continued

The government has made it much easier to drop out of an older supplemental Medigap plan and join a new Medicare Advantage plan than the other way around. In fact, if you drop your older supplement, you may not be able to get it back again should you discover your new plan is not what you thought it would be. Failure to read the fine print can expose you to thousands of dollars in unexpected out-of-pocket costs should you require even just a few days of hospitalization or have a health condition that requires multiple visits to the doctor and lab services. .However, taking this action would cause at least two difficulties for the President. Signing legislation to reduce Medicare spending on the drugs would generate official budget savings that Congress could have applied to other health-care legislation -- bills to expand insurance coverage or reduce other drug spending, for example. Executive action taken before a bill's passage would remove a key bargaining chip, and likely reduce the scope of a health-care bill expected in the coming months. .Social Security recipients, on the other hand, wouldn't have received anything during that period because the price inflation, as measured by the government's Consumer Price Index for Workers (CPI-W), fell and was not high enough for a COLA to be payable at all until January of this year. The projected Congressional COLA for 2013 is 1.1% and that would equal an extra ,900 if it takes effect, resulting in an annual salary of 5,900. The Congressional Budget Office (CBO) recently projected that seniors would receive a 1.3% COLA in 201If the CBO is correct, the COLA would only raise average annual Social Security benefits about 9, from ,200 in 2012 to ,389 in 201There's a widespread misconception that Members of Congress don't pay into Social Security. That's not true. They do — but not on all of their salary. ."The president's plan to import policies from socialized health care systems abroad is disrupting our work [on Covid-19 therapies] and diverting our focus away from those life-saving efforts," the spokesperson said. "We remain willing to discuss ways to lower costs for patients at the pharmacy counter. However, we remain steadfastly opposed to policies that would allow foreign governments to set prices for medicines in the United States." .As TSCL supporters know, it is a particularly important issue for older people, who rely on medications to manage the medical problems associated with advancing age. However, drug makers remain adamantly opposed to government efforts to curb prices. .TSCL believes COLAs need to be more fairly and accurately calculated, and strongly supports recently introduced legislation that would provide an emergency COLA. To learn more, visit . .This week, action on Capitol Hill slowed down as Members of Congress adjourned for a holiday recess. .If signed into law, the PRIME Act would increase fraud prevention efforts within Medicare and Medicaid. Among other things, it would enact stronger fraud penalties, curb mistaken payments, phase out the practice of "pay and chase," reduce the theft of physician identities, and improve the sharing of fraud data among agencies and programs. .The order is a direct response to the President's efforts to greenlight the importation of drugs from Canada.