News

  • The Advisor Asks

    The ongoing problem of extremely low COLAs, and double digit Part B premiums could be eliminated entirely if Congress were to focus instead on ensuring a higher net Social Security benefit. This could be done by enacting a one - time benefit boost or an emergency COLA. Either approach would satisfy the Social Security Act's hold harmless requirement that an individual's net benefit will not decrease from one year to the next as a result of an increase in the Part B premium, as specifically stated in section (§1839[f]). To prevent the triggering of hold harmless it would be very important that an emergency COLA payable in January 2021 is structured as an actual boost to the net benefits of Social Security recipients, rather than simply providing a flat emergency payment by check. .When we contacted the governor's office for evidence to back up DeSantis' comments, press secretary Cody McCloud didn't produce any studies or statistics. Instead, he cited the Florida Department of Health's contact tracing program, writing that it "has not yielded any information that would suggest any patients have been infected while travelling on a commercial aircraft." .Medicare has recently issued a proposed rule that would require, with some exceptions, patients who stay in the hospital two days or less to be classified as observation patients, and those who stay longer to be admitted as an inpatient. But the rule does not require hospitals to tell patients when they are in observation status or allow them to appeal the decision before they leave. Medicare recommends patients who are in the hospital for "more than a few hours" to learn their status. TSCL believes that the rules unfairly burden Medicare patients and their families, and believes that patients have a right to know their observation status and to be given an opportunity to appeal the determination. To learn more, see the publication "Are You a Hospital Inpatient Or Outpatient, If You Have Medicare — Ask!" (CMS No. 11435). … Continued

  • Legislative Update Week Ending December 21 2018

    "This year's zero COLA combined with next year's insufficient increase will have a devastating impact on the long term adequacy of Social Security benefits for millions of Americans … we hope that you will act swiftly and responsibly before the end of this year," the letter stated. .Both the SSA and AARP say that "fixing" the Notch would be a costly mistake that would drain dollars from the Social Security Trust Fund reserve. In 1992 one popular piece of legislation to provide improved monthly benefits was estimated to cost 0 billion. To counter these concerns, alternative "capped-cost" legislation has been introduced. "The Notch Fairness Act of 2001" would provide those born from 1917 through 1926 their choice of either improved monthly benefits, or a Lump-Sum of ,000 payable over a four-year period. The cost of Lump-Sum legislation is estimated to be billion, or slightly less than .25 billion per year over a four-year period. .For 4 per month the state of Virginia retirees should be able to purchase the most comprehensive drug coverage available nationally. But that was not the case. In fact, the drug benefits offered for 4 per month were almost identical to what Paula could purchase directly on her own for just .70 per month. The cost is so much lower because the federal government pays subsidies that cover an average of 75% of the cost of the Part D premium. Paula could not enjoy that savings if she received her Part D coverage through the state of Virginia retiree plan. If Paula chose to "opt out," she could find an even less costly plan that provided better coverage for the drugs she currently took. … Continued

Trump Issues Executive Order on Prescription Drugs .Yet here we are today facing another failure to pass legislation on time, which has happened year after year under McConnell. .I turn 65 later this year and I'm in good health. How much will Medicare premiums cost, and what other costs will I have? I do not get health insurance where I work. .The Social Security Administration also announced on Thursday that the Social Security payroll tax cap will rise from 8,400 in 2018 to 2,900 in 201Most American workers contribute 6.2 percent of every paycheck to the Social Security program, but high earners will stop contributing to the program once they reach 2,900 in income next year. That means the wealthiest American CEOs – many of whom are billionaires – will be finished paying into the Social Security program just a few hours or days into 2019. .TSCL is very supportive of the PRIME Act, since we believe that the failure to manage fraud results in higher taxes for all and higher premiums for Medicare beneficiaries. In addition, at a time when many deficit hawks are considering cuts to programs like Medicare and Medicaid, we believe it is critically important to ensure that scarce program dollars are being spent properly. TSCL looks forward to working with the sponsors of the PRIME Act to help build support for it, and we are hopeful that Congress will pass it into law by the end of the 113th Congress. .Congress recently enacted legislation that ended two so-called Social Security benefit "loopholes" — known as "file and suspend" and "restricted application." Details about the changes, which affect some married couples and took effect on April 30th, 2016 — can be found in the Social Security Q & A. .The fact is there isn't much information yet— even though doctors and their staff are reporting huge amounts of data mandated by the 2010 health law. Based on what I've been able to learn, the Administration is still tinkering with the system. .The conclusions of this study were echoed by a different study published in the medical journal Neurology. .The third piece of legislation they should pass is the National Defense Authorization Act (NDAA) for 202It has always been considered to be "must pass" legislation because it authorizes so many things for the military, including pay. But as we reported last week, President Trump has threatened to veto the bill because it doesn't contain a measure that he wants passed having to do with the regulations of social media like Twitter and Facebook.