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  • Ask Advisor September 2018

    Finally, two new cosponsors – Senator John Hoeven (ND) and Senator Angus King (ME) – signed on to the Concentrating on High-Value Alzheimer's Needs to Get to an End (CHANGE) Act (S. 2387). The cosponsor total is now up to twelve. If adopted, the bill would direct the Centers for Medicare and Medicaid Services (CMS) to create programs that would promote early identification, improve support for family caregivers, and provide continuous care for those battling many forms of dementia. .Which Medigap plan is best for you? To learn about Medigap plans and the coverage they offer you can find a chart comparing the coverage of plans A through N in the "2016 Medicare & You" publication on page 10You can download a copy online at www.Medicare.gov or call 1-800-Medicare ( 7) to request a copy. .On Wednesday, the Ways and Means Health Subcommittee held a hearing focusing on a number of Medicare provider payment provisions that are set to expire at the end of this year. The Subcommittee heard from an expert panel of witnesses, which included Richard Umbdenstock, President of the American Hospital Association, and Robert Wah, Chairman of the Board of Trustees at the American Medical Association. … Continued

  • More Doctors Could Be On The Way To Underserved Areas Of The U S

    Members of the House were scheduled to vote on a stopgap funding measure on Tuesday, but leaders have delayed the vote until next week due to a lack of support. It remains to be seen whether or not lawmakers will successfully avert the shutdown, but Appropriations Chairman Harold Rogers (KY-) remains optimistic. He said of the delay this week: "We've got some time left here, and conversations are taking place among the various elements … It's not time to panic." .The "defined benefit" pension plan has become rare, only available to about 16 percent of private sector workers, according to the Bureau of Labor Statistics. Most companies have transitioned from traditional pension plans that offer a fixed benefit to 401(k) plans, that are invested in the stock and bond markets, and vary on the amount of income that can be expected, depending on investment performance and the economy. .Actuaries aren't in agreement over how many more years of solvency Social Security has left. The 2018 Social Security Trustees Report estimates that the Social Security Trust Fund will become insolvent in 2034, about 15 years from now. The more pessimistic Congressional Budget Office (CBO) estimates the depletion date would be two years sooner in 2032, only 13 years away. If Congress does nothing, and allows the Social Security Trust Fund to become insolvent, the program could still pay benefits, but benefits would be cut to coincide with the amount of revenue received — by about 25%. … Continued

You can depend on TSCL to be in the middle of the fight to secure Social Security and Medicare and make sure we all receive the benefits we depend on and that we have already paid for during our working years. .Anthony Cummings, a fugitive on the run from a child rape indictment in Georgia, improperly collected thousands of dollars in Supplemental Social Security Income (SSI) payments until the law finally caught up with him. The SSI program, which is administered by the Social Security Administration (SSA), will continue to pay fugitives at least million annually unless state fugitive files can be used to prevent such payments, the agency`s Inspector General recently warned. Auditors estimate that fugitives have collected between 8 million and 0 million in SSI benefits over the past four years. The SSA hopes to negotiate agreements by July to obtain fugitive records from all states. .Social Security recipients who have contacted The Senior Citizens League overwhelmingly feel that a higher COLA would be long overdue. They say that the COLA doesn't come close to keeping up with their actual cost increases. When prices rise rapidly at the same time that retirees are receiving a very low COLA, as is the case in 2021, this shortfall can produce long-term impacts on retirement income, and even health, when retired households without adequate retirement savings run short of cash before the month is over. "In email after email, we are hearing that people are cutting their spending on prescriptions and groceries because that's the last things they have left to cut," says Johnson. The Senior Citizens League works to strengthen Social Security benefits and the COLA. .If adopted, the bill would strengthen and reform the Social Security program responsibly, without enacting any benefit cuts for older or disabled Americans. Among other things, it would: boost Social Security benefits by 2 percent, protect against inflation by basing cost-of-living adjustments (COLAs) on the CPI-E, create a new minimum benefit set at 125 percent of the poverty line, and cut taxes for over 12 million Social Security beneficiaries. .To help with your planning process, TSCL has pulled together a number of resources that can help. Visit TSCL's Retirement Resource Center. .But while the temporary payroll tax cut won't affect Social Security's finances, it also won't change the need to put the Social Security system's finances on a sound footing for future generations. Over the last 30 years, proposals have been made to allow future workers to put some of their Social Security contributions into "personal" or "privatized" investment accounts – with the hope of getting more money back than they would get from Social Security as we know it today. .Four Key Bills Gain Support in Congress .There is widespread support among older Americans for a benefit boost. TSCL surveys have found that 83% of survey participants think Congress should increase Social Security benefits by about 2% of the average benefit, roughly per month (0) in 202Sixty-two percent of survey participants also favor a more generous annual cost of living adjustment (COLA) by tying the annual inflation adjustment to the Consumer-Price Index for the Elderly (CPI-E), and 50% favor enacting a guarantee that COLAs would never be lower than 3%. .The government would provide a fixed amount of money or "voucher" to purchase private coverage. Currently Medicare pays per procedure. Under this proposal the federal government would provide a fixed amount of money or "voucher," to private health plans to provide coverage. The amount of the voucher would be limited to the growth of the gross domestic product plus one percentage point. However, for the last 40 years national healthcare spending has exceeded the growth of the gross domestic product by more than two percentage points. The non-partisan Congressional Budget Office said that over time the vouchers would become increasingly inadequate to purchase sufficient coverage, or that seniors would face significantly higher premiums.