News
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Legislative Update For Week Ending January 14 2012
Budgeting for changes in health as we age is a challenge. What we can do, though, is give you some pointers in estimating your current costs and setting a healthcare cost budget. .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. .Someone else is working using your Social Security number: If you still can't determine the cause of Social Security's overpayment claim, check your earnings record with the Social Security Administration for accuracy. Identity theft is soaring and earnings from persons unknown may show up on your work record without your knowledge. It's important to correct your record if this happens to you. If this is the case, in addition to checking your records with Social Security, you will need to contact the IRS. Otherwise, the IRS may send you a notice stating that you failed to report everything you earned and that you might owe taxes. … Continued
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Senior Citizens League Press Release Cost Of Living Adjustment
Sen. Tom Harkin (IA) introduced S. 567 on March 14, 201It has since been referred to the Committee on Finance. .Social Security Loss of Buying Power report including study methodology available for download. Loss of Buying Power Report. .Doughnut hole or coverage gap stage: 5.76. … Continued
"Most people 65 and over take more than one prescription drug, so to get the lowest-costing plan that's right for you, people need to do a drug plan comparison based on all the drugs they currently take, " Johnson explains. "In addition, you should carefully compare prices at network retail pharmacies as well as mail order — those prices can also vary significantly," Johnson notes. .Finally, two new cosponsors – Senator Cory Booker (NJ) and Senator Deb Fischer (NE) – signed on to the bipartisan CREATES Act (S. 974), bringing the total up to thirty in the Senate. If adopted, the bill would increase competition in the prescription drug industry by encouraging generic and biosimilar drug manufacturers to introduce their products to the market more quickly. .Here's something hard to believe, but true. Our government is paying Social Security benefits to thousands of Mexicans who don't live in this country, or were never entitled to benefits based on their own work record. A new report from the Social Security Office of Inspector General details the growing problem of thousands of Mexicans who routinely visit the United States once a month to establish a claim to Social Security benefits. .Computed tomography or CT scans are diagnostic tests that are covered by Medicare when medically necessary and ordered by your healthcare provider. Medicare most typically covers the tests under Part B when you are an outpatient, or the tests would be covered by Part A if you receive the CT scan as an inpatient during a hospital stay. .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). .Sources: "How Much ‘Skin In The Game' Is Enough?", Kaiser Family Foundations, June 201"Measuring Price Change For Medical Care In The CPI," Bureau of Labor Statistics, accessed March 3, 2012. .COLAs Going To Be Flat In 2014 .The FAIR Social Security Act (H.R. 1984), introduced by Representative Peter DeFazio (OR-4). This bill would make COLAs more accurate by basing them on the Consumer Price Index for the Elderly (CPI-E). In a letter to his colleagues in Congress, Rep. DeFazio wrote: "Defying all common sense, COLAs are currently calculated based on the cost of goods that aren't purchased in large numbers by seniors … Social Security COLAs should be based on accuracy, not austerity." According to his office, adopting the CPI-E would amount to a monthly benefit increase at the age of 80 for the average retiree, and an increase of per month at the age of 90. .At a time when Congress is deeply divided on many issues, we need to find a way to break through the gridlock to pass bipartisan, commonsense measures to support our nation's seniors. In that spirit, I introduced the bipartisan SAFE ID Act to ensure that seniors can retire without fear of having their identity stolen or losing their savings. With nine of the ten top cities for tax-ID fraud located in Florida, many seniors in my home state have fallen prey to identity theft and other forms of fraud. This bipartisan legislation will eliminate one big source of identity theft by allowing a shortened taxpayer identity number to be used in place of a social security number on taxpayer forms like W-2s.