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  • Its Tax Season That Means More Scams Aimed At Older Taxpayers

    Allowing individuals to import prescription drugs from abroad. Many Medicare beneficiaries spend thousands of dollars every month on lifesaving medications under the Part D program. The bipartisan Safe and Affordable Drugs from Canada Act (S. 61) would allow these individuals import their prescription drugs from approved pharmacies in Canada, where medicines are often half the cost. This critical bill would improve access to affordable medication for older Americans, and it would bring down costs nationwide by increasing competition in the American marketplace. .Tuesday's hearing made it clear that the Joint Committee has an enormous amount of work to do in a very short amount of time and in a very politically-charged environment. Adding to the pressure, Elmendorf told the Committee Members that if they wish to have their proposal scored by the CBO before voting on it, they'll need to submit it by early November, giving them less than two months to reach a compromise. Despite the tough circumstances, most Members seemed up to the challenge and will to, as one Committee Member put it, "go big, go long, and go smart." .This doesn't mean you should completely rule out starting widow's benefits. Depending on your finances, you may be able to start a reduced widow's benefit now and later switch to your own retirement benefits after your reach full retirement age or later if it would be higher than what you are entitled to now. If your own retirement would not be higher, then starting survivor's benefits now would lock in a permanently lower benefit. … Continued

  • Hearing For Pricing Of Anti Inflammatory Drug Humira And Cancer Drug Imbruvica

    As prices increase, those who depend on Social Security benefits experience a decline in the buying power. In fact, according to my research, Social Security benefits have lost 30% of buying power over the past 20 years. For some retirees, that means a decline in their standard of living. .The second issue is the COLA – specifically next year's COLA. .The irony is that when Mitch McConnell (R-Ky.) because Senate Majority Leader in 2015 he said the Senate must return to "regular order," which means getting its work done in an orderly fashion and on time. … Continued

CMS said in a press release that this change is to provide patients and their doctors more options and to lower costs by promoting more competition among hospitals and independent surgical centers. But while these surgeries will be removed from the inpatient-only list, the government did not approve any of them to be performed anywhere else. Patients will still have to get care at hospitals but, because these services have been reclassified, they will be billed under Medicare Part B as outpatient services, instead of Medicare Part A for hospital services. Medicare beneficiaries pay a bigger share of the costs under Part B, than under Part A for an inpatient stay, and those costs would also drive up Medicare Part B premiums in the future. .The Centers for Medicare and Medicaid Services (CMS) has estimated that it improperly paid .1 billion to Medicare Advantage plans in 2013 alone. Yet the plans are rarely forced to repay the money they have overcharged, or face closer government scrutiny after the audits, according to the Government Accountability Office (GAO). The GAO report said that CMS has failed to target health plans with "known improper payment risk", allowing the worst abusers to avoid scrutiny. .This week, four new cosponsors signed on to the Social Security Fairness Act (H.R. 1795), bringing the total up to one hundred and thirteen. The new cosponsors are: Reps. Michael Fitzpatrick (PA-8), Frank LoBiondo (NJ-2), Brett Guthrie (KY-2), and Katherine Clark (MA-5). If signed into law, the Social Security Fairness Act would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two federal provisions that unfairly reduce the earned Social Security benefits of millions of teachers, fire fighters, peace officers, and other state or local government employees each year. .Medicare is currently prohibited from covering most hearing, vision, and dental services, even though millions of seniors are afflicted with age-related hearing loss, low vision, and poor oral health. When left untreated, these conditions often result in serious injuries and complications. What do you feel should be done about this? .Your chance to make some changes is coming up, November 15 through December 3Since Medicare's open enrollment period is in the middle of Thanksgiving and Christmas holiday season, your best bet is to do your homework by starting now. Here are some things you should know: .Compare costs. Before making any decision to drop your current plan ask for a breakdown of costs of the plan you are considering. However, keep in mind the information supplied by an insurer or agent may be incomplete or omit important cost information. Don't sign anything without consulting several outside sources of information. .In 2018, the Part B premium remained 4 per month. To cover that premium, Barbara, whose Part B premium was 8.00, needed a COLA of at least .00. That was more than the 2% COLA boosted her Social Security benefits. Once again her Part B premium was adjusted and in 2018 she pays a Part B premium of 7.00 per month. In 2019 her COLA will be high enough to catch up to the Part B premium of 5.50 and still leave a small boost for her net Social Security benefits. .Over the past 25 years, Congress has periodically debated plans to fix Social Security's financing, that rely heavily on benefit cuts. But for the first time in 2019 and 2020, Congress is considering a plan to strengthen Social Security and its benefits while making the program solvent by beefing up the payroll tax revenues flowing into the program. .Yes, of course, Americans' health is priceless, and reining in a deadly virus that has trashed the economy would be invaluable.