Forum Articles keep you informed about retiree income, including Pensions and Social Security and Healthcare, including Medicare and the Privatization of Medicare.
Social Security and Medicare Trustees Reports 2022
The Trustees for Social Security and Medicare issued their annual reports on Thursday, June 2, 2022. Social Security has 66 million beneficiaries and Medicare covers nearly 64 million people in 2022. Key information in the reports for current and future retirees included:
The Old-Age and Survivors Insurance (OASI) Trust Fund, which pays retirement and survivors benefits, will be able to pay scheduled benefits on a timely basis until 2034, one year later than reported last year. At that time, the fund’s reserves will become depleted and continuing tax income will only be sufficient to pay 77% of scheduled benefits.
Bill Kadereit, President
National Retiree Legislative Network
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The NRLN board created the American Retiree Education Foundation (AREF) in 2014 as a 501(c)(3) tax-deductible, nonprofit education foundation to expand the research and educational reach of the NRLN and to enable NRLN to sharpen its focus as an organization lobbying for the passage of federal legislation and regulations that benefit retirees.
For example, the white paper on Protecting Pension Assets which is used to educate members of Congress on the need for legislation to prevent pension plan sponsors from using plan assets for non-pension expenses was funded by AREF. Access the white paper here.
You can help fund the AREF without costing you anything extra when you make a purchase online from Amazon through its AmazonSmile program.
GoodRx offers free discount card and coupons at:
List of Best Prescription Discount Cards for 2022 posted at:
The NRLN has produced Video/Podcast Series 2, Episode 3 for 2022 – Congress Must Take Action to Reduce the Price of Prescription Drugs. In this episode, Ed Beltram, NRLN VP-Communications, and I address the high cost of prescription drugs, how an Rx discount card provides savings, NRLN lobbying efforts to reduce drug prices, and House and Senate bills we support.
LISTEN TO THE PODCAST ABOVE!
After clicking the “play arrow,” click the screen enlarge icon in the right corner of the screen to expand the video. Click the screen compress icon in the right corner of the screen to make the video smaller.
Appeals Court Ruling Favors Medicare Patients
A federal appeals court has ruled that Medicare patients are entitled to an appeal process at the Centers for Medicare and Medicaid Services (CMS) when their hospital stay classifications are changed from “inpatient” to “observation” status.
You may recall the NRLN has issued Action Alerts on this issue that has resulted in retirees not being aware they were misclassified as “under observation” by hospitals. After release, if they spent weeks in rehab centers, they received bills for tens of thousands of dollars. This ruling could result in significant financial savings for Medicare Part A patients. If a senior needed skilled nursing care following a stay in a hospital, Medicare would not cover the cost unless he/she was in the hospital as an “inpatient” for at least three days (not including the date of discharge). There was not a process to appeal to Medicare a hospital’s classification of “outpatient.”
Under the court’s decision, Medicare beneficiaries whose status was changed from “inpatient” to “observation” can now appeal the hospital’s classification to Medicare. The Court of Appeals for the Second Circuit upheld the trial court decision that had found that Medicare’s lack of appeals procedures on this issue violates the Due Process Clause of the constitution.
How much did your U.S. Representatives and Senators take as campaign contributions from the Pharmaceutical and Health Products Industry for their recent election campaigns and the current 2019-20 one? Could this be a reason why bills to reduce the price of prescription drugs are not being passed?
To see data that the NRLN has compiled from OpenSecrets.Org, Center for Responsive Politics, CLICK THE BUTTON BELOW.
All Senators and Representatives are now shown by state and amount for ease of reviewing your state’s delegation.
NRLN Provides New “Report Card” Feature on Members of Congress. Do your Senators or Representative support bills that help retirees?
Ask your Senators to work for passage of the Affordable Insulin Now Act to cap insulin at $35 per month
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