Medicaid Event June 25 Briefing Medicaid Managed Care In The Era Of Health ReformSince 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..TSCL Announces Support for New Bill.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. … Continued
Health Reform Event The Health Of Safety Net Hospitals HowCurrently, Social Security COLAs are based on the CPI-W, which tracks the spending patterns of young, urban workers. This index underestimates the inflation that seniors experience since it fails to capture the medical and housing costs that many spend most of their incomes on. TSCL estimates that a CPI for seniors would put the annual COLA at two-tenths of a percentage point higher than the CPI-W. Over the course of a retirement, this would amount to several thousands of dollars more in Social Security benefits..Why is the action so controversial?.This discrepancy between COLAs and real costs is squeezing senior households. Retirees are forced to draw down savings faster than planned, and work far longer than anyone ever imagined. In addition, the percentage of households with credit card debt headed by someone age 75 or older has doubled from 11 percent in 1998 to 22 percent in 2010 according to recent data from the Employee Benefit Research Institute. The sad fact is that people 65 and older are the fastest-growing segment of the U.S. population filing for bankruptcy. Seniors are getting deep into debt because of high medical bills, long-term care costs, and dwindling retirement savings. … Continued
