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  • Best Ways To Save July 2013

    In order to keep Social Security checks coming, in full and on time, Congress will need to work promptly to raise or suspend the debt limit in coming months. Failing to do so would be irresponsible, especially when more than 60 million Americans rely on Social Security and Medicare. TSCL believes that Congress has better options than benefit cuts for strengthening Social Security. What do you think? Please take our new online 2019 Social Security survey here. .Two weeks after President Trump signed an executive order "Lowering Drug Prices by Putting America First," the White House still has not released the text of the order. The unorthodox move is apparently a leverage play, an attempt to squeeze drug companies into offering concessions. .Up to 85 percent of Social Security benefits can be subject to taxation if an individual has a combined income of ,000 or more, and married couples filing jointly have a combined income of ,000 or more. Had income thresholds been adjusted for inflation, they would be ,176 for individuals, and ,145 for joint filers in for the 2020 tax year. "Combined income" is determined by adding one's adjusted gross income, plus any tax - free interest income, and one - half of Social Security benefits. … Continued

  • How Rising Medicare Part B Premiums May Impact Your Social Security Benefits

    Last year the House did pass a Medicare negotiations bill, which would cap out-of-pocket drug costs for older people and expand program benefits as well. But it has had no Republican support in the House, and it has no path forward in the Republican Senate because Senate Majority Leader Mitch McConnell (R-Ky.) has refused to bring it up for a vote. In addition, the White House calls it unworkable. .Shop around regularly. You can save hundreds of dollars a year in premiums by shopping around. Some state insurance department websites publish rate comparisons for standardized coverage that can help you find the best deals. Another way to compare is to shop from an independent insurance agent who sells from multiple carriers. You can also try online sites like Insure.com, NetQuote.com and SelectQuote.com. When considering a less expensive insurer, consider getting auto coverage from the same company for savings of up to 30 percent. .The report found at least 6.5 million active Social Security numbers belonging to people who are now at least 112 years old. While people are living longer these days, they're not living that much longer. According to a story by Stephen Ohlemacher of the Associated Press, as of last fall there were only 42 people known to be that old in the entire world. … Continued

The Congressional Budget Office (CBO) projects that spending for Social Security, Medicare, other major healthcare programs, defense, and interest payments alone would require every dollar of revenue in about eight years, leaving nothing left over for the rest of the federal budget. The CBO further says that federal debt cannot grow faster than the nation's output indefinitely without causing long-term damage to the government's finances and broader economy. .Are there any plans without an annual maximum? These plans fall into two main types, dental health maintenance organizations (DHMO), and discount dental plans. A DHMO will require you to use in network dentists, and to get referrals from your dentist when you need a specialist. You pay nothing extra when you receive preventive services that are covered by your plan premium. There are also discount dental plans that negotiate discounted rates with a network of dentists. Patients get discounts at dentist's office, but pay their dentists directly at the time of service. There is no waiting period for this type of plan. ."'We trace this mortality effect to cutbacks in life-saving medicines like statins and antihypertensives, for which clinical trials show large mortality benefits,' the researchers wrote. .Last week the U.S. House of Representatives announced it will not implement the President's directive for employees of the House, joining major companies in rejecting the option. .Some Members of Congress question whether the federal government would replace borrowing for Defense with borrowing for Medicare. Democratic Rep. Allyson Schwartz (PA-13) said the savings from the Iraq and Afghanistan wars would "offer a unique and limited opportunity to resolve this problem that grows every month." Other legislators warn, however, that it is misleading to think that these savings could be used as a "doc fix" offset. .Taxpayers may receive part of their credit in 2021 before filing their 2021 tax return. .Sources: "Crackdown Proposed To Prevent Illegal Immigrants From Obtaining Medicare," Robert Pear, The New York Times, March 3, 201"Medicare Improperly Paid Providers Millions Of Dollars For Unlawfully Present Beneficiaries," Daniel R. Levinson, Department of Health and Human Services Office of Inspector General January 2013. .TSCL Meets with Members of Congress .Second, six new cosponsors signed on to the Standardizing Electronic Prior Authorization for Safe Prescribing Act (H.R. 4841), bringing the total up to twenty-six cosponsors. The new cosponsors are: Representative Adam Schiff (CA-28), Representative Joe Kennedy (MA-4), Representative Greg Walden (OR-2), Representative Kevin Kramer (ND-1), Representative Dan Webster (FL-11), and Representative Don Bacon (NE-2). If adopted, H.R. 4841 would allow for and standardize electronic prior authorization for Medicare Part D beneficiaries.