This Week in Medicare News: The Latest Stories You May Have Missed

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Don’t miss out! Here are your latest breaking Medicare and Social Security headlines! 

House Passes $2.2 Trillion Democratic Coronavirus Stimulus Bill

BY JACOB PRAMUK (CNBC): The House passed a $2.2 trillion Democratic coronavirus stimulus plan on Thursday night even as Democrats and the Trump administration struggle to strike a relief deal. 

The chamber approved the legislation in a 214-207 vote. Eighteen Democrats voted against the measure as lawmakers in competitive districts grow wary of the ongoing impasse over aid. (read more)

UPDATE: Trump Attempts to Send $100 Cash Cards to Seniors; Drug Companies Ditch Deal

BY JOAN BIDDLE: Part of President Trump’s “America First Health Plan” is the emphasis on lowering prescription drug prices, especially for seniors. After the drug industry told the President that the discount cards weren’t going to happen, Trump turned around on Thursday, September 24, and upped the price. Now Trump is saying that he is sending seniors $200 drug discount cards in the mail. Where is this money coming from? Experts are calling TRUMPERY.  (read more)

Medicare Annual Election Period 2020: 6 Things You Can Do and 1 Thing You Can’t

BY DANIELLE KUNKLE ROBERTS (Boomer Benefits): If you’re enrolled in Medicare, there are certain dates you can’t afford to ignore. October 15, the first day of the Medicare Annual Election Period, is one of them.

The fall Annual Election Period is for everyone enrolled in Medicare. Unlike the new Medicare Advantage Open Enrollment period in January, which is limited to members of Medicare Advantage plans, anyone can use the Annual Election Period (AEP) to switch up Medicare coverage. (read more)

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Why Are Drug Prices So High? The Answer: Drug Company Profits

BY JOAN BIDDLE: Drug costs continue to be a problem for seniors in the U.S. A new House panel has revealed that several major drug companies inflated their prices in order to boost profits and fund executives’ bonuses. The big pharmaceutical companies took advantage of Medicare rules to inflate their own wealth.

After an 18-month investigation, the House Oversight and Reform Committee found that the following dug companies inflated their prices by hundreds of thousands of percent: (read more)

What Could Help You Decide the Best Time to Start Claiming Social Security

BY RICHARD EISENBERG (Next Avenue): Millions of Americans are rightly concerned about the future solvency of Social Security. But there’s another key Social Security concern: the prevalence of people starting to claim their Social Security benefits early, depriving them of larger payments from the government by delaying.

When to begin claiming Social Security “is one of the most important decisions an individual will make,” said Gary Koenig, vice president of financial security at the AARP Public Policy Institute. (read more)

When it Comes to Social Security, These Strategies Can Pay Off for Married Couples

BY HOWARD GOLD (MarketWatch): When you’re part of a couple, you make financial decisions together. That’s especially true for the critical decision about when to start collecting Social Security benefits, which can mean a lot of money over many years.

In a perfect world, everyone would wait until he or she turns 70 to claim benefits, even if it means having to sell stocks at a loss, because that’s when you max out your benefits and every year you wait gets you an automatic 8% increase. Sometimes, though, taking Social Security at 62, when you first become eligible, can make sense, no matter what the Personal Finance Police tell you. (read more)

Don’t forget! Medicare open enrollment starts October 15. Get a free quote and find the BEST plan for you today. 
 

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