Doctors, hospitals, and other providers would also be affected payments would be reduced to nursing homes, teaching hospitals, and other facilities, and doctors would no longer be paid according to the fee schedule laid out in the flawed sustainable growth rate formula. While some of these changes including the repeal of the SGR would be welcomed by TSCL, we do have serious concerns about the increased cost-sharing that many beneficiaries would see under the plan..After passing The Middle Class Tax Relief and Job Creation Act late last month, Congressional leaders quickly began selecting conferees to be named on the payroll tax conference committee. The bi-partisan panel will negotiate details beyond the 60-day payroll tax holiday extension and "doc fix" that will expire March 1st..The Centers for Medicare and Medicaid Services recently announced that the standard Medicare Part B premium will be 8.50 in 2021, an increase of .90 per month from 4.60 in 2020. That increase, which I earlier feared would be considerably more, was restricted by legislation enacted last fall. But even with legislation.TSCL Plays Role in Preventing Part B Premium Spike in 2021 The annual Social Security cost of living adjustment is just 1.3% this year, making it one of the lowest ever paid. But the standard monthly Medicare Part B premium increased by a modest .90, from 4.60 to 8.50, much less than TSCL initially feared it would be. TSCL's efforts to inform Congress and the.New Legislation Limits Stiff Increase Expected for 2021 Medicare Part B Premium 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..President Trump Signs Executive Order to Expand Private Medicare Plans.Action from Congress is needed to address Social Security's looming shortfall. Without it, the Social Security Trust Fund is estimated to run short by 203Should that occur, benefits would be reduced by about 22% to match the level of payroll taxes coming in..According to an article by StateNews.com, pharmaceutical manufacturers have been pouring millions of dollars into this year's Congressional campaigns..Retirees frequently say that their annual cost-of-living adjustment does not adequately keep pace with rising costs. To learn if this is the case, this study, now in its eleventh year, looks at 40 expenditures that are typical for people age 65 and up, comparing the growth in the prices of those goods and services, to the growth in COLAs..The proposal is at odds with how older Americans think Congress should address Social Security revenues, according to TSCL's 2017 Senior Survey, which is conducted nationally through the mail and online. When asked about options to shore up Social Security financing, 58 percent of participants said they support proposals that would very gradually increase the payroll tax rate by 1 percent each for workers and employers. The largest percentage, 73 percent, support raising the amount of wages subject to Social Security, currently 7,200, to cover all wages..Should I Allow My New Health Law Coverage To "Automatically Renew"?
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During that period COLAs have averaged just 1.4%. In 2010, 2011, and 2016 there was no COLA payable at all and, in 2017, the COLA was just 0.03 percent. "But COLAs have never remained so low, for such an extended period of time, in the history of Social Security," says Johnson, who has studied the COLA for more than 25 years. Over the 20 - year period covering 1990 to 2009, COLAs routinely averaged 3 percent annually, and were even higher before that period..The rapid growth in Medicare Part B costs is consuming an increasing share of beneficiaries' income. What proposals do you support to slow the growth in the out-of-pocket costs?.On Wednesday, the Social Security and Medicare Trustees released their annual reports on the financial outlook of both programs. As expected, they found that Social Security and Medicare are experiencing long-term financing shortfalls. Social Security's combined trust funds are expected to be depleted in 2034, which remains unchanged from last year's report. Medicare's Hospital Insurance trust fund is expected to be depleted in 2028 two years earlier than the trustees projected last year. … Continued
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It turns out than among seniors who are not vaccinated, the biggest problem may be access to the vaccine as opposed to opposition to getting the shot..On Tuesday, the Social Security Administration announced that beneficiaries will receive a 0.3 percent cost-of-living adjustment in January the lowest Social Security COLA ever paid. It will increase the average monthly benefit by just around five dollars, and it is likely to be offset completely by increased Medicare Part B premiums..Also, TSCL plans to be on the Hill next week visiting with the staffs of Republican Senators to find out where they are with regard to health care legislation, and in particular the Grassley-Wyden bill. … Continued