News

  • Low Cola Covid 19 Costs Could Trigger A Medicare Premium Spike

    Viral Outbreaks Related to Planes .In July of 2011, the Department of Health and Human Services proposed a rule under the Patient Protection and Affordable Care Act regarding risk adjustment. Under this rule, the Federal Government is requiring health insurers to provide confidential and detailed medical information about a person. Aside from the fact that this is an invasion of privacy, we must also remember the Federal Government's lack of accountability with health records when over 5 million TRICARE records were stolen from the car of a government contractor this past fall. .You can find contact information HERE. In addition, you can find ten sample town hall questions HERE, in this month's issue of the Social Security and Medicare Advisor. … Continued

  • Category Tscl In The News

    Based on projections in the Trustees Report, Social Security beneficiaries should expect to see a cost-of-living adjustment (COLA) between 2.4 percent and 3.0 percent in 201Medicare Part B premiums will likely increase by around .50 next year, so the typical beneficiary will pay 5.50 per month. If the estimates from the Trustees are correct, most Social Security beneficiaries will see modest increases in their net Social Security benefits next year after Part B premiums are deducted. .By Rick Delaney, Chairman of the Board ."And that's not all," says Cates. "Beneficiaries lose the compounding effect they get with higher benefits," he notes. "Even when inflation returns to more typical levels, beneficiaries' lifetime Social Security income will continue to be lower," Cates explains. … Continued

The Finance Committee members spent much of Tuesday's hearing debating the primary motivators of rising healthcare costs, especially growing premiums in the individual market. Many on the committee seemed convinced that the ACA is to blame, while others said the Trump Administration is responsible. .Francis Collins, the head of the National Institutes of Health, has said the government has some intellectual property rights. Moderna seems to dispute that view, saying it is "not aware of any I.P. that would prevent us from commercializing" a COVID-19 vaccine. .This week, discussions to fund the federal government past September 30th – the end of the fiscal year – seemed to stall. Leaders in the House and Senate told reporters last week that they planned to take up a short-term continuing resolution (CR) by September 21st. However, this week, lawmakers on both sides of the aisle said many important details remain up in the air, and the timeline has shifted. .TSCL opposes these cuts for a number of reasons. Medical practices in particular have been hurt by the pandemic and should not have to face lower Medicare reimbursements. ."In the event that you have the choice to get vaccinated, I'd encourage you to take the vaccine that you're given," John Brooks, the chief medical officer of the Centers for Disease Control and Prevention's Covid-19 response, said at a briefing Friday." .Prevent a 50 percent Medicare premium hike from taking effect. According to the Medicare Trustees, an estimated 15 million Medicare beneficiaries will be hit with Part B premium hikes of 50 percent next year, along with increases in deductibles. TSCL believes that the abrupt and dramatic increase must be prevented, and we hope Congress will pass legislation like the Protecting Medicare Beneficiaries Act (S. 2148) or the Medicare Premium Fairness Act (H.R. 3696). .As we foresaw last week, Congress was not able to finish its work by the end of the day last Friday and had to pass two continuing resolutions (CR) in order to give themselves more time. The current CR runs through next Monday, the 28th. .Despite all the tragedy and difficulty coming out of the pandemic emergency there is a little good news, in our opinion. The spread of the coronavirus has reignited the push in Congress to expand domestic manufacturing of drugs, and renewed concerns the U.S. relies too much on foreign medicine makers. As we have been seeing, the need for medications can be urgent during a pandemic and lawmakers on both sides of the aisle have raised alarms about possible shortages. .If Congress does not pass the new legislation, there will be a 2% cut starting April 1 and then a 4% cut in Medicare funding amounting to billion in early 202The cuts would be in place for each of the next five years.