This week, the Social Security and Medicare Boards of Trustees released their highly anticipated annual reports on the financial status of the two programs. In addition, lawmakers remained in their home states and districts to continue the two-week spring recess..In fact, unlike the additional Medicare tax on high earners, this 3.8% net investment tax was not even a specific provision of the Affordable Care Act. It was a provision of a separate bill, the Health Care Education and Reconciliation Act of 2010 which was passed about two days after the Affordable Care Act. By setting up the revenues so that they would flow to the General Fund, Congress by-passed earmarking those revenues for Medicare Part A or Part B Trust Fund. That means when the funds are used for other government spending, the Medicare Trust Funds are not earning any interest from the federal government for the use of those funds..Many believe that the public stage has politicized the debate and is preventing the group from reaching a breakthrough. With only one week to go before the Presidents Day recess, the next meetings will likely move behind closed doors..Three Key Bills Gain Support."Beneficiaries were increasingly able to use technology to bridge the care gap. Fifty-eight percent said their provider offers both phone and video appointments..Are you making the most of your money? A new online website and tool, EconomicCheckUp®, can help you get a better understanding of your financial situation and find personalized, appropriate solutions to save money. You can use it to find work, learn to better manage your budget and explore options to reduce debt, or to explore options to use home equity..The House recently voted to pass my bipartisan Senior Security Act, which takes senior fraud and scams head on and will help the Security Exchange Commission and, federal prosecutors, crack down on these senior-preying criminals. I introduced this bill with Republican Congressman Trey Hollingsworth of Indiana..The Notch Fairness Act, H.R. 615, introduced by Representative Ralph Hall, would allow Notch Babies their choice of a higher monthly benefit or a lump-sum of ,000 payable in four annual installments. The legislation would allow eligible survivors of Notch Babies, persons who receive Social Security benefits based on the account of a Notch Baby, to receive up to 100% of the benefit payable to the deceased..Berna Heyman, a retired librarian who has Wilson Disease testified how she was a victim of obscene price gouging. Her annual co-pay for the drug Syprine rose from 0 in 2013 to ,000 in 2014, with her drug plan paying over 0,000. When she and her doctor applied for Valeant pharmaceutical's patient assistance program, she was denied financial assistance from the manufacturer because she was on Medicare.

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A third option was introduced by Senator Rand Paul in June. His plan would repeal the SGR and base payments on the same formula that is used to calculate cost-of-living adjustments for Social Security benefits. It would cap annual pay increases for providers at three percent, allowing physicians to practice without the threat of annual reimbursement cuts.."Independent analysts think the drug is worth more like ,000, but Medicare has no authority to charge a lower price. Instead, the federal program is likely in effect obligated to cover the new drug now that it has FDA approval. The tools it has to make a determination about whether or not to cover aducanumab and for whom are fraught with legal and ethical risk.".To say the least, it is controversial and there is reason to doubt it works. We know for sure that it is incredibly expensive. Having said that, here is some of the information we have seen. … Continued

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Since 2000, Social Security benefits have lost 23 percent of their purchasing power due to inaccurate inflation adjustments based on the CPI-W. This year, for instance, seniors would be receiving a 2.1 percent Social Security benefit increase if the COLA were based on the CPI-E. Instead, they are receiving a 0.3 percent COLA that is offset completely by increased Medicare Part B premiums..Get your health expense records up to date and review the Annual Notice of Change from your current plans: Drug and health plans send out their Annual Notice of Changes for 2022 in September through October of this year. Review those details to learn what might affect you in 202Start a list of costs, break down what you will pay for all premiums, any out-of-pocket costs that you typically pay. List what you spend out - of - pocket on dental, vision and hearing services, as well as any expenses such as eyeglasses and hearing aids. If you are comparing current Medigap coverage with Medicare Advantage, you will need to know what sort of services you are using and what you typically pay out - of - pocket now for those services, if anything. Worksheets maintained for tax purposes, statements, check registers may be an excellent source of this information.."Americans Make Hard Choices on Social Security: A Survey With Trade-Off Analysis," National Academy of Social Insurance, October 2014. … Continued

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