Blog The Impact Of Falling Energy Prices On States Fiscal HealthIf adopted, the Seniors Have Eyes, Ears, and Teeth Act would expand Medicare coverage to include essential hearing, vision, and dental care. Under current law, the traditional Medicare program is prohibited from covering these basic health care services, and millions of seniors living on fixed incomes cannot afford to pay out-of-pocket for routine care or assistive technologies like hearing aids..Phasing in an increase in the payroll tax rate for workers and employers from 6.2% to 7.4% each over a period of twenty years. The gradual growth would mean an extra 50 cents in taxes per week each year for the average worker..But not all beneficiaries are protected by the hold harmless provision. The provision covers about three-quarters of beneficiaries who would not see any change in their basic Part B premiums in 2010, according to the Actuary for the Centers for Medicare and Medicaid Services. But one quarter of beneficiaries would face reductions to their monthly Social Security checks as money is deducted to cover the increased Part B premium costs. And although the "hold harmless" provision provides protection from the rising Part B premiums, that provision of law does not apply at all to Part D drug coverage or Part C Medicare Advantage plan premiums. If a person's Part D or Medicare Advantage plan premium goes up, he or she would have less Social Security to live on in 20An emergency COLA, however would offset those costs and prevent those reductions. … Continued
Fiscal Policy Are Sin Taxes Healthy For State Budgets 636664663CMS to Save 4.5 Billion Dollars over Ten Years.The Windfall Elimination Provision and the Government Pension Offset were included in the Social Security Act of 1983 to help shore up the Social Security program. I believe this has done little to secure the program and, instead, unfairly reduces the Social Security benefits of millions of public employees. Earlier this year, I reintroduced legislation, H.R. 973, the Social Security Fairness Act, to repeal these arcane policies..But that's not all. Congressional Democrats also want to add dental, vision and hearing coverage to Medicare but that goal is running into resistance from powerful health industry lobbies. … Continued