News
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Majority Of Retirees Would Raid Savings Or Borrow For Financial Emergencies Says New Poll By The Senior Citizens League Tscl
On Thursday – one day later than promised – lawmakers on the House Ways and Means Committee released the text of legislation that will comprehensively reform the tax code if signed into law. Despite the delay, leaders in the House expressed their commitment to passing the legislation before the Thanksgiving recess begins on November 17th. Just eight legislative days remain before then. .Finally, one new cosponsor – Rep. Alcee Hastings (FL-20) – signed on to the Medicare Physician Payment Innovation Act (H.R. 574) this week bringing the total up to thirty-seven. If signed into law, H.R. 574 would repeal and replace the sustainable growth rate (SGR), which is the flawed formula that is currently used to determine reimbursements for physicians who treat Medicare patients. Adopting H.R. 574 would bring increased stability to the Medicare program for both physicians and beneficiaries. .The transition has set off dozens of new Medicare scams. To protect yourself from scam here's what to remember. There is nothing you need to do to get your card, and it does not cost anything. It will be shipped to you automatically. Scammers try to call beneficiaries on the phone and falsely claim that to get the new card you must provide Social Security, credit card, or bank account information, or Medicare benefits will be canceled. All of these claims are false. If you get a call like this or if anyone calls unsolicited, and claiming to be from Medicare, HANG UP. This is a scam. Once you get your new Medicare number, don't toss your old Medicare card in the trash — shred or cut it up into small pieces. … Continued
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Whats Happening Medicare Part B Premiums 2017
At that point Congress would either must cut benefits in a major way or raise taxes to pay for continued benefits, something that Congress has refused to do for years. .According to the report, the triggering of hold harmless will continue on an individual basis, particularly when inflation is lower than forecast (about 2.4 percent) or if Medicare Part B premium increases are higher than forecast (5%), or both. The risk for both is high, because over the past 8 years COLAs have averaged just 1.2 percent and since 2000 Medicare Part B premiums have increased on average more than 10 percent per year. According to the report, individuals with the lowest benefits, 0 or less, are the most likely to be affected by hold harmless on an individual basis over the next decade, even in years when a COLA is payable, particularly if Medicare Part B premium increases are higher than expected. .If he proceeds, Trump would force drug companies to accept lower payments from Medicare for treatments administered in doctors' offices. The rule would apply to certain drugs bought by the "Part B" section of Medicare. … Continued
The Social Security Administration recently called a halt to a controversial effort to collect debts that were more than 10 years old. For the past three years the government has confiscated tax refunds of hundreds of thousands of taxpayers, claiming an overpayment of Social Security benefits, even though it had little or no proof, and few exact details, according to media reports. In a letter to Treasury Secretary Jack Lew, Senator Charles E. Grassley (IA) said that government agencies were apparently "not properly notifying individuals or allowing them to inspect records of the debt they supposedly owe, which are violations of the law." .Sources: "Report: Social Security Numbers Active For 6.5 Million People Aged 112," Stephen Ohlemacher, Associated Press, March 14, 201"Man Impersonates Dead Mother To Collect 5,000 In Social Security, Rent Subsidies," New York Daily News, June 17, 2009. .Democrats want to be able to pass President Biden's economic stimulus/COVID-19 relief bill, but it is highly unlikely they could get 10 Republicans to vote for the bill. .Another major concern for those at the hearings was that the IPAB might inadvertently ration care. The law explicitly prohibits this, but many fear that without clarifying the definition of "rationing," there will likely be many discrepancies in the future. Rep. Phil Gingrey (GA) pointed out that what one calls rationing, another might simply consider reducing costs. .Recently one of our readers asked "Is there a percentage as to how much less NOTCH BABIES receive monthly?" .Recently one of our readers asked "Is there a percentage as to how much less NOTCH BABIES receive monthly?" Although not many studies exist, according to one study of average earners born from 1917 through 1926, the disparity in benefits with other retirees seems to average about 26%. .If our forecast proves correct, this would. .Despite receiving some pointed questions at Wednesday's hearing, most Senators on the panel seemed overwhelmingly supportive of Burwell's nomination. Sen. Tom Coburn (OK) introduced her to the Finance Committee and he recommended her confirmation, saying: "When you have someone who is competent and also has a strong character, you find a way to get past your differences and try to solve your problems." In addition, in his opening remarks, Sen. Jay Rockefeller (WV) said, "We need you, Sylvia Mathews Burwell, very, very much." .Senator Richard Shelby (AL) – Chairman of the Senate Appropriations Committee – told reporters this week that a shutdown is possible. He said: "I'll just say that I don't think it's a good idea to shut the government down, period. But people are going to posture. And it could happen, it's happened before … I don't believe a shutdown's in my interest, the president's interest, the people's interest, either party's interest … But some people look at it differently."