According to the Congressional Research Service, for an age 65 retiree with average wages, a maximum benefit disparity of 10% would have arisen between the highest benefit under the old rules and the lowest benefit under the new rules if the 1977 assumptions had materialized. Under the economic conditions that actually arose, the disparity was 25%-two and one half times greater..The 30 percent who are not protected by hold harmless include:.In the first year of the new healthcare law, a large percentage of enrollees through the federal exchange tended to be older adults, many having pre-existing conditions. In addition, there were individuals who enrolled when they received notice that their former health plan was ending, and still other uninsured consumers did so attempting to comply with the new law to have health coverage or pay a fine.."Medicare, the federal health insurance program that covers Americans over 65, is facing an impossible dilemmShould it cover a new and expensive medication for Alzheimer's disease, which afflicts 6 million Americans and for which there is no existing treatment, even though the drug might not actually work?".My legislation isn't meant to punish all drug manufacturers. These businesses play an important role in researching and developing new, effective medications, and we want them to succeed. Congress has passed legislation that makes sure drug manufacturers have enough time to recoup their research and development costs before generics are allowed to compete. My bill will simply prevent abuse of the system--extending that protected period out, way beyond what was intended..In years when there has been no, or almost no cost-of-living adjustment, Medicare Part B premiums have spiked significantly. TSCL is highly concerned that another Medicare Part B premium spike could.Benefit Bulletin: June 2020 Medicare Premiums Could Spike Due to Coronavirus.For many years TSCL has led the fight to provide additional compensation to those affected..Despite the slowing of the CPI, earlier this year, Medicare actuaries estimated that the base Part B premium paid by most seniors will climb about 8%, from .90 per month to 9.10, starting next January..Finally, the Protecting and Preserving Social Security Act gained one new cosponsor in Senator Claire McCaskill, who brings the new cosponsor total to three. If signed into law, S. 1600 would base the Social Security COLA on the Consumer Price Index for the Elderly. The bill would also ensure that high income earners pay their fair share of taxes into Social Security.

Slideshow How Does The Quality Of The Us Healthcare System Compare To Other Countries

Annual Open Enrollment Period: The annual Medicare Open Enrollment period runs from October 15, through December 7, 201During this period you can compare and switch Part D stand alone drug plans and Medicare Advantage plans.."The switch looks deceptively small on paper," says TSCL's Executive Director Shannon Benton. "But it would have a big impact on Social Security income," she says..The program is still controversial because it is expected to cost at least .6 billion and will be funded by taking money from other places within the Medicare budget. One health official briefed on the revised plan called it a 'horrible idea' that would inappropriately dip into Medicare's trust fund, adding that the timing still raises questions. … Continued

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Maintenance and repair: This doesn't refer to occasional jobs like painting and replacing a roof, for which you may need to tap savings or a home equity line of credit. This category covers the far more common on-going repair headaches like leaky plumbing, failed furnaces, and drafty windows. Housekeeping and gardening services and equipment also come under this expense category. As seniors age, the need for services grows as health and living circumstances change. A common rule of thumb is to establish from 2% to 4% of the value of your home as your annual maintenance and repair budget. If 2% is too big of a stretch, forcing you to spend down your savings faster than you intended, you may want to think about downsizing your home as a new year's resolution, and look for newer, more modest housing in a less expensive area or even renting..TSCL Expects COLA Will Be About 1.4%.My brand name drug is supposed to go generic this year. Will my drug plan cover the generic and if so will I be notified? … Continued

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