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This week, action on Capitol Hill remained slow as the fall recess continued. ."AbbVie is one of 33 member companies of the industry's top lobbying group, PhRMA, which raised nearly 0 million from membership dues in 2018, the most recent year for which data is available. But AbbVie's political action committee is one of just two pharmaceutical company PACs to donate the maximum ,000 to PhRMA's federal PAC since 2013, a potential indicator that AbbVie was highly motivated to influence legislation," according to a report on Salon.com. .This week, one Member of Congress introduced legislation that could make the Social Security cost-of-living adjustment (COLA) a more accurate measure of inflation. In addition, The Senior Citizens League (TSCL) saw support grow for two key bills. … Continued
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Weekly Update For Week Ending September 26 2020
Use the lowest price among other economically advanced countries – the so-called "favored nations rule" - to set what Medicare pays for certain drugs administered in a doctor's office, including many cancer medications. This would apply to the most expensive medications covered by Medicare's 'Part B,' which pays for outpatient care. .As we said above, the devil is in the details. Rather than signing four "executive orders," the only real executive order was the one on housing. The other three actions are marked as "memorandum," which carries less authority. .The money that is withheld due to excess earnings is not completely lost. Once you reach full retirement age, the Social Security Administration will recalculate your benefits so that over time you can recover what was withheld. To learn more about getting Social Security benefits while working, visit: https://www.ssa.gov/planners/retire/whileworking.html. … Continued
The Senior Citizens League was disappointed that the President did not comment on Social Security or Medicare during his State of the Union address, but we were pleased that he spoke about the need to reduce prescription drug prices. The President said he was proud to have helped improve "access to breakthrough cures and affordable generic drugs" by speeding up the FDA approvals process last year. That move could increase competition and bring down prices by encouraging generics to enter the market more quickly. .Provide a one-time bump – up in monthly benefits for all beneficiaries. A higher level of monthly benefits would mean more adequate COLAs and a greater ability to afford Medicare Part B premium increases in coming years. .The Senior Citizens League believes it is time to focus on the adequacy of Social Security benefits to meet rising Medicare costs. COLAs have been insufficient to cover the Part B premium in five out of the past ten years — 2010, 2011, 2016, 2017, and 201This is a clear indication that Social Security COLA is not adequate, and not doing the job it was intended to do. . .(Washington, DC) – The percentage of retired households that expect to pay tax on their Social Security benefits has experienced a rare decline this tax season, but that appears to be due to a much higher level of uncertainty than usual ahead of this tax season according to a new survey by The Senior Citizens League (TSCL). "This could potentially mean lower than expected tax revenues for the Social Security and Medicare Trust Funds," says Mary Johnson, a Social Security and Medicare policy analyst for The Senior Citizens League .Early Thursday morning, following a seven-hour voting marathon, lawmakers in the Senate passed a budget resolution that includes instructions for four committees – two in the House and two in the Senate – to craft legislation to repeal the Affordable Care Act. The resolution passed with a vote of 51-48, without the support of any Senate Democrats. While casting her vote, Senator Claire McCaskill (MO) – who serves as the Ranking Member of the Senate Committee on Homeland Security and Governmental Affairs – said: "Because there is no replace, I vote no." .An Emergency COLA in 2021 Would Prevent Economic Insecurity and An Unprecedented Medicare Part B Premium Increase for Older Americans. .Marvin Moser, MD author of "The Patient As A Consumer" Yale University School of Medicine Heart Book, provides these eight questions to ask: .Compare plans! Use health and drug plan comparison tools found at www.Medicare.gov — Because premiums, out-of-pocket costs and drug coverage vary so enormously between plans, the single best habit to get into is comparing your coverage options every year. Your best tools for comparing health and drug plans coverage and information about premiums and costs can be found online at http://www.Medicare.gov. If you don't have computer or Internet access, work with a friend or family member who does. Or you can get one-on-one counseling assistance through your state health insurance assistance program (SHIP). Many of these programs operate through local area agencies on aging. .New research, however, suggests that Medigap substantially increases Medicare spending, because seniors with the policies are insulated from costs. Those with polices tend to receive more medical care than people who are required to pay some or all of the costs of their care out-of-pocket. According to the CBO, a 2010 study found that Medicare beneficiaries responded to increases in their cost sharing by reducing visits to physicians and use of prescription drugs.[2] "Making seniors pay higher initial Medigap cost-sharing affects both senior budgets, and senior health — especially if seniors forego necessary care," Cates notes.
