With Medicare outlays spiraling due to outlays for COVID-19, Congress recently passed legislation to head off an expected Part B premium spike, by restricting the increase for 202TSCL has been warning about the potential of a low cost of living adjustment and spiking Medicare premiums since July of this year..TSCL is in the early stages of understanding the full scope of the impact of COVID-19 on the Social Security Trust Fund, as we continue to work with Congressional Offices to enact legislation to boost benefits and strengthen program financing..The Social Security Administration announced today that the 2020 COLA will be just 1.6 percent, continuing the worrisome trend in which COLAs have averaged just 1.4 percent from 2000 to 20"Adequate COLAs are critical to retirement security," says Mary Johnson, a Social Security policy analyst for The Senior Citizens League. "Social Security is one of the only types of retirement income that provides this essential protection against rising costs. "When a retiree's costs rise faster than their COLA, the buying power of Social Security benefits erodes, leaving people with a benefit that doesn't go as far as it did when they first retired," Johnson notes. According to research by Johnson, Social Security benefits have lost 33 percent of buying power since 2000..This week, one new cosponsor Rep. John Tierney signed on to the Strengthening Social Security Act, bringing the total up fifty-seven. If signed into law, the bill would reform the Social Security program in three ways: it would adjust the benefit formula, resulting in more generous monthly benefits; it would adopt the Consumer Price Index for Elderly Consumers, resulting in more accurate cost-of-living adjustments, and it would lift the cap on income subject to the payroll tax. H.R. 3118 would extend the solvency of the Social Security Trust Fund responsibly, without cutting benefits for seniors..There were certain federal health programs set to expire at the end of May, but the expiration date was extended to Nov. 30 in one of the recently passed bills to deal with the coronavirus situation..According to a report in BGov News, "… younger seniors have shown a greater appetite for vaccines than their older peers. Initially, the opposite was true, as governments sent inoculation teams into nursing homes and assisted-living facilities. Recently, the numbers have flipped, adding support to the idea that some elderly residents -- especially those outside structured-living arrangements -- are simply having trouble navigating the system.".doctor decide if you qualify or one that requires that a person be unable to perform two activities of daily living. Some require more. Look for coverage.Out-of-network emergency services, which would include services furnished after a patient is stabilized unless notice and consent criteria are met..Then on Monday there was a report that Congressional negotiators were closing in on a government spending bill agreement after keeping the funding for Veterans Affairs Mission Act under the .4 trillion budget cap, a significant victory for the House Republicans who insisted on this provision, according to two congressional aides.
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It's clear we need to take action to protect Medicare for future generations and safeguard it against those who want to turn it into a coupon-style voucher system. For over half a century, Medicare has guaranteed older Americans' access to health care, and most seniors don't want to see something so essential endangered or gutted. But here's some good news: There are steps we can take to put Medicare on sure financial footing and build upon it to improve insurance coverage and affordability for older Americans not yet on Medicare..The U.S. is not the only country with that experience. Canada and Great Britain have had the same experience.." 'If it comes to getting my family members vaccinated, and all that's available is J&J or Novavax, I'd tell them to take it,' said Robert Hancock, president of the Texas College of Emergency Physicians." … Continued
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MA plans include Part D and other benefits: Nearly 90% of MA plans come with drug coverage and often include some additional benefits. Before switching it's important to check the MA plan coverage for the drugs you currently take and compare that coverage with your best Part D drug plan choice. If you haven't checked your Part D plan choices recently you may have less costly choices for stand-alone drug plans. The best way for you to compare MA plan and drug plan choices is to do a drug plan comparison based on the drugs you take using the drug plan finder on Medicare's website..Several provisions within the H-CARE act include; increasing payments to Rural Health Clinics, authorizing to million annually for grants to rural providers to help with the cost of implementing health information technology, requiring prompt payment to rural pharmacies by Medicare prescription drug plans and ensuring that rural Americans are appropriately represented on the Medicare Payment Advisory Commission..The study examined the increase in costs of 39 key items between 2000 and January 201The items were chosen because they are typical of the costs of most Social Security recipients, and include expenditures like Medicare Part B premium, that are not measured by the index currently used to calculate the COLA. Of the 39 items analyzed, 26 increased faster than the COLA over the same period. "This study illustrates why Congress should enact legislation to provide a more fair and adequate COLA," says The Senior Citizens' Executive Director, Shannon Benton. "To put it in perspective, for every 0 worth of groceries a retiree household could afford in 2000, they can only buy worth today," Benton adds. … Continued