Minneapolis Heart Institute Programs And Services Preventive Cardiology Clinic Care TeamAs a result of the COLA projection, it is expected that Medicare's "hold harmless" policy will be applied to a majority of beneficiaries. Around 70 percent of Medicare's current enrollees will continue paying the 4.90 Part B premium in 2016 instead of the projected 9.30 monthly rate, which will be applied to new beneficiaries and some other groups..TSCL is strongly opposed to plans to "chain the COLA." Such a switch has been estimated to reduce Social Security benefits by about 7% over a 30-year retirement. An average benefit of ,300 in 2017 would be about 5 per month less at the end of the period than it would be using the current CPI. An index that causes higher taxes, and lower retirement benefits, make the chained CPI a bad deal for older Americans..On Wednesday, the Social Security and Medicare Trustees released their 2015 reports on the financial outlook of the two programs. At a press briefing, Treasury Secretary Jack Lew said: "Today's reports confirm that both Social Security and Medicare are secure today and will remain secure in the years to come. Consistent with previous years, today's reports also show that these programs are facing challenges that need to be addressed." … Continued
Blog In Memoriam New Mexico Senator John PintoOn Monday, the non-partisan Congressional Budget Office released its highly-anticipated report analyzing the AHCA legislation from Republican lawmakers that would replace the Affordable Care Act if signed into law..The Congressional Budget Office recently released its fall economic and budget update which estimates that due to the COVID-19 pandemic, Medicare outlays will grow 12% over 2020, double the rate what was forecast in April. If that estimate proves to be the case, that suggests the Part B premium increase could be twice as high as the earlier forecast - about .40 per month..To read the full statement from Chairman Cates on Thursday's Supreme Court decision, click HERE. … Continued