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Insider’s Report: This Is a Terrible Medicare Surprise
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According to a recent article in Kaiser Health News, “As early as three weeks after Medicare’s drug plan enrollment period ends on Dec. 7, insurance plans can change what they charge members for drugs — and they can do it repeatedly.” (5/3/22)
A California woman who used Medicare’s plan finder to select coverage last December, found that the price of one of her medications had jumped from $70 to $275 by January. It’s the classic bait and switch — but this shouldn’t be how our current drug pricing system works!
Already this year, drug companies have raised the prices on more than 450 prescription drugs! But according to Medicare’s website:
“Your plan may raise the copayment or coinsurance you pay for a particular drug when the manufacturer raises their price, or when a plan starts to offer a generic form of a drug.”
Fixing this problem would require a change in the 2003 Medicare Modernization Act, which established Part D drug coverage but forbade Medicare from negotiating the price of prescription drugs.
Since then, the National Committee has been fighting to pass legislation in Congress that would empower Medicare to negotiate drug prices — something that 92% of the public supports, including majorities of both Democrats and Republicans.
And there are other solutions to reining in soaring drug costs, including an out-of-pocket cap on Part D drug costs and limiting drug price increases to the rate of inflation. Unfortunately, Senate Minority Leader Mitch McConnell and so-called “fiscal hawks” in Congress remain committed to shielding Big Pharma from drug pricing reforms, while many of their constituents are skipping life-saving medications they can’t afford.
That’s why the National Committee continues to remind lawmakers that lowering drug costs remains a top priority of voters like you. And with your support, we’ll continue to put pressure on the Senate to pass meaningful drug pricing reforms.
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| Good Bills |
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Within the limited resources allocated to the Departments of Labor and Health and Human Services Appropriations bill, the National Committee has sent a letter to the chairs and ranking members of the House and Senate Appropriations Committees urging them to prioritize the programs that help seniors live independent and dignified lives. Without their investment in programs and services that protect older Americans against poverty, hunger, isolation, poor health, neglect, abuse, unemployment and other challenges, our government will fail to reach the aging population in need of these services. Under their leadership, the National Committee hopes that for fiscal year 2023, all of these programs will be funded at levels that enable them to meet a rapidly growing demand for services.
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| Ask Web |
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Our resident Social Security expert, Webster Phillips — a Senior Policy Analyst for the National Committee and a 31-year veteran at the Social Security Administration — is here to answer your questions about Social Security.
You can either search our archives for valuable advice on a broad range of concerns or submit your question here.
This week's question is: Is a person receiving Social Security disability also entitled to receive half of the husband’s Social Security retirement? Do a disabled husband and wife have to pay federal or state tax?
Click here to read the answer.
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| Poll Results! |
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In the last issue of Benefits Watch we asked our readers the following question:
At a time when 12,000 Americans are turning 60 every day, do you believe there is an urgent need for Congress to reinstate the House Select Committee on Aging and fully address the growing demands on family caregivers and our nation’s burgeoning retirement security crisis?
The results from our recent poll are fascinating, but they’re only available to National Committee members! Join the National Committee today and we’ll immediately give you the results of this important poll.
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Ask Web
Whether you’re currently retired or approaching retirement, we can help answer your questions and provide valuable advice on Social Security. |
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Join Now
Your support sustains our campaigns in Washington to protect and strengthen Social Security and Medicare. |
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Aging, Health and Care
Find useful resources on everything from caregiving and hearing care to long-term care and transportation. |
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| Medicare Advantage Plans Put Corporate Profit Ahead of Care |
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NCPSSM President and CEO Max Richtman says the National Committee "is not surprised" about an Inspector General's report showing that Medicare Advantage plans have been delaying and denying beneficiaries' care. "We've been sounding the alarm on this for years." (May 3, 2022, WICC, Radio interview with NCPSSM President & CEO Max Richtman)
Listen Here →
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