News

  • Ask The Advisor March 2011 Advisor Feed

    Dental insurance works differently than health insurance. Standard Medicare, for example, has an 80/20 structure. Traditional Medicare pays about 80% of the Medicare approved cost, while the patient, or the patient's supplemental insurance, pays most, or all of the balance. On the other hand, dental insurance can follow a 100-80-50 structure. If you use in-network dentists, dental plans may pay 100% of routine preventive services, such as x-rays, cleanings and exams. The plan may pay only 80% for basic procedures such as fillings, root canals, and extractions. And major procedures such as crowns, implants and gum disease treatments may only be reimbursed at 50%, which can set you back with significant out-of-pocket costs. .With reconciliation, Democrats can pass a bill without any Republican votes so they are hoping to get a much more comprehensive bill than the Grassley-Wyden one. .TSCL continues to work with Members of Congress for stronger protections of Social Security. TSCL supports legislation that would ban the payment of benefits based on illegal work — H.R. 787, "No Social Security for Illegal Immigrants Act," introduced by Representative Dana Rohrabacher (CA-46), and S.95, legislation to prevent Social Security credit from being earned without legal status, introduced by Senator David Vitter (LA). … Continued

  • Ask The Advisor September 2019

    Conference Committee Announces Compromise .Lawmakers Work to Avoid Government Shutdown .The traditional formula does not take into account rising Medicare premiums, deductibles and expenses for prescription drugs that have had increasing effects on this segment in recent years. The revised formula accounted for 15.9 percent of seniors 65 or older living in poverty, which nearly doubled the percentage used in the traditional formula. In total, a record level of 49.1 million Americans are considered in poverty, according to the new estimates. … Continued

House Passes Funding Bill .Britain, France, and Italy generally have the lowest prescription drug prices, while Canada, Germany and Japan tend to have higher prices, the data showed. .TSCL agrees with Congressman Duncan, and we enthusiastically support the CPI for Seniors Act. In a letter of endorsement, Art Cooper – Chairman of TSCL's Board of Trustees – wrote: "Unfortunately, years of record-low COLAs like this one – including multiple years of zero COLAs – will have a devastating impact on the long-term adequacy of Social Security benefits for more than 59 million beneficiaries … Your bill would go a long way in ensuring the retirement security older Americans have earned and deserve, and we look forward to informing our members and supporters about your efforts on Capitol Hill." .Here are a few important tips on how to avoid becoming a victim of phone scams or identity theft: .Background Information: Roughly 56% of older taxpaying households paid income taxes on a portion of their Social Security benefits this year, even though many of them only made twice the federal poverty level in income. Question: Do you believe this is fair, and if not, what should be done about it? .The revenues from taxation of benefits are earmarked for funding Social Security and Medicare benefits. "Those revenues take on new importance in 2020, as the coronavirus takes a significant toll on Social Security and Medicare payroll tax revenues with more than 40 million people out of work," Johnson says. .Individuals with incomes below ,000, and whose Part B premiums are automatically deducted from their Social Security benefits, are protected from a reduction in their Social Security benefits when Part B premiums increase more than their Social Security benefits. The provision was triggered twice in recent years, in 2016 when there was no COLA, and in 2017 when the COLA was just 0.3%. .No further information about the bill is available at this point but as soon as it is TSCL will review it to determine whether we will support it. .Rick is currently retired from the Central Georgia Multiple Listing Service, Inc., after serving 15 years as President and Chief Executive Officer.