Human Services Advancing Infant And Early Childhood Mental HealthThis year, for the first time since the early 80's, the Social Security Trust Fund that pays retirement and survivors benefits fell into deficit and is paying out more than it receives in payroll taxes and taxes on Social Security benefits. In years in which there was an excess of Social Security taxes, the federal government used the surplus revenues for other purposes and then credited the Trust Fund with special non-marketable government bonds representing IOUs. But with the recession and prolonged economic recovery, the taxes that fund Social Security plunged. At the same time, enrollment is soaring as seniors who have lost their jobs turn to Social Security early. When the Trust Funds don't receive enough tax revenues, then the government must find the cash to redeem the IOUs to pay benefits. The only options Congress has is unsustainable levels of borrowing, tax increases, or cutting benefits..While most prescription drugs are paid for by beneficiaries and their Medicare Part D plans, Medicare Part B spends about billion on pricey drugs that must be given intravenously or by injection by trained healthcare professionals. Medicare pays the healthcare provider the average sales price, plus 6% for the costs associated with the purchase and storage of the medications. For example, if a drug costs ,000, the doctor would receive an additional 6% payment, or , but if a similar drug costing ,000 were used instead, the doctor would receive 0 instead..Nonetheless, TSCL will keep a close eye on the bill's movement in the coming weeks, since it could have a significant impact on the Social Security and Medicare programs. For updates, visit the Legislative News section of our website. … Continued
Patient Education Your Recovery At Home Your EmotionsLowering drug prices is a singular area where bipartisan legislation could make it into law this year. On Monday, Senator Jeanne Shaheen in introduced legislation that would cut the cost of insulin by 75% compared with the level expected in 2020. The proposal would create a new pricing model that limits the use of rebates for Medicare Part D and the private insurance market, Sens. Tom Carper, Susan Collins and Kevin Cramer have already signed on as co-sponsors to the legislation..Net qualified disaster losses from a federally declared disaster..The Obama administration will decide soon whether to appeal Monday's injunction to the U.S. Court of Appeals for the 5th Circuit. In the meantime, TSCL will keep a close eye on the immigration discussions since the President's recent orders could result in permanent and significant obligations for the Social Security and Medicare programs down the road. We will post updates here in the Legislative News section of our website. … Continued