News

  • Legislative Update For Week Ending September 4 2015

    The Senate was back in Washington this week, holding hearings and confirming judicial and executive branch nominees. And while those are official duties of the Senate, no new legislation was passed. .According to Bloomberg News, "Budget officials analyzed prices of 176 popular brand name drugs and found the price for a 30-day supply of medication was 8 on average through Medicaid and 3 through Medicare Part D, which pays for prescription drugs in retail pharmacies. The government also paid twice as much on the same drugs through Medicare versus the Veterans Affairs program." .When the Office of Inspector General matched the 6.5 million Social Security numbers against the Social Security Administrations file, it found 67,000 of the numbers were used to report wages for people other than the cardholders, a sign the numbers were used for illegal work. According to the Associated Press, one Social Security number was used 613 different times. An additional 194 numbers were used at least 50 times each. … Continued

  • Benefit Bulletin October 2013

    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. .Scrapping the Social Security payroll tax cap on the taxable wages would not only provide enough revenues to make the program solvent for another 50 years, but would also pay for a more fair and accurate cost-of-living adjustment (COLA) for current retirees. For example, say a CEO of a company receives million in compensation. That individual and the employer each pays 6.2% Social Security taxes on the first 8,500 in wages. Social Security receives a total of ,69But if the entire million were taxed, Social Security would receive 8,000 instead. .And no matter what critics may say about the dire finances of the Social Security, the government can find the money for Notch Reform simply by cutting waste, fraud and abuse. The General Accountability Office reported earlier this year that government agencies made over billion in improper payments in fiscal year 200Forty-five billion would more than pay for a Notch settlement. TSCL estimates the cost of the Notch Fairness Act to be around billion. … Continued

A couple of weeks ago we told you about a recent study that made it clear that we are on the right track as we carry on the fight for lower prescription drug prices. When prices are so high, not only does it affect the financial well-being of individuals, but it also affects their physical well-being and can even have fatal consequences. .The following article is from "Kaiser Health News": .Richard "Rick" Delaney joined the United States Air Force in June of 196He served three tours of duty in Southeast Asia in 1966, 1969, and 1971 as well as two tours to Europe in Germany and England. He has been stationed in Tennessee, Arkansas, Alabama, Wyoming, California Georgia and South Dakota. .Impose new Medicare deductibles and impose new coverage restrictions on Medigap plans: Impose a new 0 deductible for both Medicare Part A and Part B that Medigap plans would be restricted from covering. Would also limit the co-insurance or co-pays that Medigap plans could cover to 50 percent of the next ,000 in Medicare cost-sharing. Currently plans pay most, or all, of the Medicare cost sharing. .The crackdown was unique not only for its scale, but also. No Lie! Affordable Care Act Not So Affordable .If you take one or more prescriptions, you may be shocked to learn how much you can save by comparing plans based on the prescriptions you use and switching drug plans, when you find a better match. This is an important financial habit to get into EVERY year. Drug plans routinely raise premiums and co-pays, and invariably what your best choice was in 2006 no longer holds true today. Although everyone's savings experience will be different based on the particular prescriptions they take, consider these cases from my files**: .Meanwhile, TSCL continues to work for passage of Notch Fairness Act, legislation that would provide ,000 payable in four annual installments, or an improved monthly benefit. The bill has been re-introduced in both the House and the Senate and has 22 co-sponsors. TSCL remains committed to Notch Reform and we continue to meet with Members of Congress to build support for this needed remedy. .Initial coverage stage: 4.61 from the lowest-cost drug plan but, as you have discovered, the total cost of the drug is so expensive that you rapidly use up the initial ,820 in the first three months once you factor in the portion that your drug plan pays. .Recently the House Budget Committee and the House Energy and Commerce Committee both held hearings on the controversial Independent Payment Advisory Board (IPAB). The IPAB was created under the healthcare reform law to slow rising Medicare costs. If costs grow too fast, the IPAB would recommend cuts that would go into effect unless Congress comes up with the same amount of savings. Both Committees heard testimony from Health and Human Services (HHS) Secretary Kathleen Sebelius, among many others.