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Insider’s Report: We’re on the Cusp of a Historic Victory for Seniors and Medicare!
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Shortly, the Senate will vote on legislation that will finally allow Medicare to negotiate prescription drug prices with Big Pharma. It is expected to pass in the Senate by a razor-thin majority. The bill will then go to the House for their consideration where it is expected to pass.
As we’ve written to you about recently, drug price negotiation will save the Medicare program some $288 billion over ten years and exert downward pressure on prescription prices in general. This is welcome news for millions of seniors on fixed incomes who are skipping medications because of prohibitive costs!
As a reminder, the Senate bill:
- Empowers the Secretary of Health and Human Services to negotiate the price of 10 of the most expensive drugs that lack market competition beginning in 2023.
- Caps Medicare Part D beneficiaries’ out-of-pocket drug costs at $2,000 per year. Currently, there is no hard limit on how much Medicare patients — whose median annual income is $29,650 — must pay out of pocket for prescriptions;
- Requires drugmakers to pay rebates for any price hikes exceeding the rate of inflation.
- Expands the “low-income subsidy” program for seniors needing co-pay assistance to those earning 150% of the poverty level.
This bill represents a critical step in allowing Medicare to negotiate drug prices for the first time ever and it will help bring financial relief to seniors. We wouldn’t be on the cusp of this monumental victory for seniors without your backing and that of our million+ members and supporters.
Your petitions, letters, emails and phone calls to Congress helped the National Committee exert maximum constituent pressure on lawmakers to buck the powerful influence of Big Pharma in the interests of millions of older Americans who struggle to pay for their medications. Thank you for helping make this historic victory possible!
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| Good Bills |
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The National Committee applauds the House Committee on Ways and Means Chairman, Richard Neal, for marking up the “Improving Seniors’ Timely Access to Care Act” (H.R. 3173 / S. 3018). Recently, the Inspector General for the U.S. Department of Health and Human Services (HHS) found that 13 percent of denials made by Medicare Advantage (MA) plans for prior authorizations were improper. That’s reason enough for why this legislation is so desperately needed to help MA beneficiaries receive the same service and treatments available under traditional Medicare.
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| Beware: Medicare Scams |
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According to a recent article published on CNBC, Medicare scams are on the rise. Medicare beneficiaries may receive phone calls, emails, mail or text messages from scammers claiming to be from Medicare hoping they’ll provide them with personal information so they can file bogus Medicare claims.
Here are a few things you can do to help protect you or a loved one from falling victim to Medicare fraud:
1. Guard your personal information, including your Medicare number.
2. Don’t respond to solicitations from companies you don’t recognize or click on links or respond to emails from people you don’t know. You should know that no one from Medicare will call or text you unless you’ve already made contact asking for assistance.
3. Check your benefits statement and look out for any charges that you don’t recognize or don’t make sense.
4. Watch out for free offers or incentives. And remember if it sounds too good to be true, it probably is.
5. Report suspected fraud by calling 1-800-MEDICARE (1-800-633-4227).
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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: I received benefits on my deceased ex-husband’s Social Security record until I remarried. Now that I am divorced, can I begin receiving benefits on his record again?
Click here to read the answer.
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| Take Our Poll |
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Find useful resources on everything from caregiving and hearing care to long-term care and transportation. |
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| Hirono backs bill to improve Social Security |
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Hawaii US Sen. Mazie Hirono has co-sponsored and reintroduced a bill that would improve the solvency of Social Security and equalize the tax burden so that the wealthiest segment of society would pay a similar percentage as others. The bill has the backing of a coalition, including the National Committee to Preserve Social Security and Medicare and the Alliance for Retired Americans. (July 23, 2022, Maui News)
Read More →
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