News
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Social Security Benefits Lose 22 Of Buying Power Since 2000
Medicare Pays More for Drugs than Medicaid .Sens. Tom Carper (DE) and Tom Coburn (OK) introduced S. 1123 on June 10, 201It has since been referred to the Committee on Finance. .President Trump also said this last weekend that over the next 2 weeks he will pursue an executive order requiring health insurers to cover pre-existing conditions. "We will be pursuing a major executive order" on pre-existing conditions, Trump said during a news conference in N.J. … Continued
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Ask The Advisor August 2012
Grassley to Push Hard in the Senate for his Drug Pricing Bill .What do you think? Should health and drug plans be responsible for removing illegals from Medicare rolls? Take a poll on the TSCL homepage today! .Social Security Totalization Agreements are designed so that workers and their employers would not be subject to double taxation, owing payroll taxes to both the country in which they work, and their home nation. In addition, totalization agreements allow workers to earn generic work credits good for receiving retirement benefits in either country. These credits from the United States and other countries can be totaled together to receive benefits. The U.S. currently has 24 totalization agreements with other nations, most having economies similar to our own. … Continued
According to an analysis by Johnson, the impact of switching to the more slowly - growing "chained" CPI would compound over time, with the deepest cuts accruing after people had spent 25 or 30 years in retirement. After 25 years, benefits would be cut by about 4.6 percent, and by 5.5 percent after 30 years. For someone with average benefits of ,245 in 2017, benefits would be 0 per month lower from using the chained CPI after 25 years, and 6 per month lower after 30 years, the analysis found. .Doing nothing and allowing the Social Security recipients to go with just a 1.3% COLA, would be highly detrimental to the Social Security income of all retirees, and would not extend program solvency. TSCL is working to make Members of Congress aware of the need for providing this boost to your Social Security benefits both to strengthen your retirement income and to protect you from huge spikes in the Medicare Part B premium. .Specialty-tier drugs are defined by Medicare, as those that cost more than 0 per month in 2019, and include drugs used to treat cancer, hepatitis C, multiple sclerosis (MS), and rheumatoid arthritis. Even when Part D enrollees reach the Medicare Part D catastrophic coverage phase, when co-insurance drops to 5%, beneficiaries who take these drugs can continue to face thousands of dollars in annual out-of-pocket costs, according to the Kaiser study. The study found that annual out-of-pocket costs for specialty drugs in 2019 are expected to average ,994 across the 28 specialty-tier drugs that are covered by drug plans. .By 2012, in just five years, the first wave of those former illegal immigrants who came to the U.S. in the 1970's at age 20, and became legal permanent residents in 1986, will turn 62 and old enough to file claims for Social Security. As immigrants draw close to retirement age they are more likely to check their Social Security records and request reinstatement of any unauthorized earnings for which they have evidence. This comes during the same period that Baby Boomers start retiring, and assets of the Social Security Trust Fund begin to decline. .The President's proposal is likely to increase the already-escalating tension between the drug industry and his administration. The new order comes on the heels of the four executive orders he issued regarding drug prices two weeks ago. .The House passed H.R. 1868 by a vote of 246-175 on March 19, with 29 Republicans voting in favor of the bill. .I am writing for assistance in applying for the Notch Settlement on behalf of my widowed mother who has been a supporter of this cause for several years. .The audit is part of long-delayed plans to recover money that the Centers for Medicare and Medicaid Services (CMS) says it overpaid to plans that exaggerated the severity of illnesses of patients treated. The problem is one that the federal government has struggled with, unsuccessfully, for more than a decade. According to one estimate that appeared in Health Affairs, CMS will overpay Medicare Advantage plans by 0 billion over the next decade if the current "coding intensity adjustment" system remains in place. .Johnson says that the federal government is looking at the wrong market basket to determine the annual change in prices in the goods and services used by retired and disabled Americans. According to Johnson, had the government used a more appropriate inflation index that measures costs experienced by people age 62 and older, the Consumer Price Index for the Elderly (CPI-E), retirees would get a COLA of 2.1 percent instead of 0.3 percent in 201"But instead, the COLA is based on the increased price of goods normally purchased by younger working adults," she notes.