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Medicare Premiums for 2010

Most Medicare beneficiaries will not see a Part B monthly premium increase as a result of a “hold harmless” provision in the current law.  This allows for 73 percent of beneficiaries to be protected from an increase raising the 2010 Part B monthly premiums from $96.40 to $110.50.  The Administration continues to urge Congressional action that would protect all beneficiaries from higher Part B premiums and eliminate the inequity of a high premium for the remaining 27 percent of beneficiaries.

By law, the Centers for Medicare & Medicaid Services (CMS) is required to announce the Part A deductibles and Part B premium amount – a notice that is published annually in the Federal Register. 

Under the Medicare law, the standard premium is set to cover approximately one-fourth of the average cost of Part B services incurred by beneficiaries aged 65 and over.   The remaining Part B costs are financed by Federal general revenues. This monthly premium paid by beneficiaries enrolled in Medicare Part B covers a portion of the cost of physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and other items. 

In calculating the monthly Part B premium each year, the CMS Office of the Actuary includes a contingency margin to provide for possible variation between actual and projected costs.  The size of the contingency margin estimated to be needed for 2010 is affected by two main factors.

First, the current law formula for physician fees, which will result in a reduction in physician fees of approximately 21 percent in 2010 and is projected to cause additional reductions in subsequent years, is one factor affecting the 2010 contingency margin.  For each year from 2003 through 2009, Congress has acted to prevent physician fee reductions from occurring.

In recognition of the strong possibility of increases in Part B expenditures that would result from similar legislation to override the decreases in physician fees in 2010 or later years, it is appropriate to maintain a significantly larger Part B contingency reserve than would otherwise be necessary.  The asset level projected for the end of 2009 is not adequate to accommodate this contingency. 

Second, the Social Security Administration announced there would be no increase in Social Security benefits for 2010.   As a result of the hold-harmless provision, the increase in the Part B premium for 2010 will be paid by only a small percentage of Part B enrollees. Most Part B enrollees will pay the same monthly premium that they paid in 2009 ($96.40 was the 2009 standard monthly premium). 

Approximately 27 percent of beneficiaries are not subject to the hold-harmless provision because they are new enrollees during the year (3 percent), they are subject to the income-related additional premium amount (5 percent), they do not have their Part B premiums withheld from social security benefit payments (19 percent), including those who qualify for both Medicare and Medicaid and have their Part B premiums paid on their behalf by Medicaid (17 percent).

As required in the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA), beginning in 2007 the Part B premium a beneficiary pays each month is based on his or her annual income.  Specifically, if a beneficiary’s “modified adjusted gross income” is greater than the legislated threshold amounts ($85,000 in 2010 for a beneficiary filing an individual income tax return or married and filing a separate return, and $170,000 for a beneficiary filing a joint tax return) the beneficiary is responsible for a larger portion of the estimated total cost of Part B benefit coverage.  In addition to the standard 25 percent premium, such beneficiaries now pay an income-related monthly adjustment amount.  These income-related Part B premiums were phased-in over three years, beginning in 2007.  About 5 percent of current Part B enrollees are expected to be subject to the higher premium amounts.

 

American Recovery Act of 2009

On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009.


The new law provides a one-time payment of $250 to retirees, disabled individuals and Social Security beneficiaries and SSI recipients receiving benefits from the Social Security Administration and Railroad Retirement beneficiaries, and to veterans receiving disability compensation and pension benefits from the U.S. Department of Veterans’ Affairs.
The Shaw Group does not handle these payments nor questions regarding this one-time payment. We would suggest if you have not received your payment to contact SSA directly. You may also find additional information at www.socialsecurity.gov.

 


Cost of Living Adjustment

More than 55 million Americans will see a 5.8 percent increase in their monthly Social Security and Supplemental Security Income (SSI) benefits in 2009. This Cost-of-Living Adjustment (COLA), the largest since 1982, is based on the rise in the Bureau of Labor Statistics' Consumer Price Index for Urban Wage Earners and Clerical Workers from the third quarter of the prior year to the corresponding period of the current year.


The COLA will begin with benefits that Social Security beneficiaries receive in January 2009.  Increased payments to Supplemental Security Income beneficiaries will begin on December 31.

 


 

SSA List of Compassionate Allowance Conditions
 
 The Social Security Administration has released a new list of Compassionate Allowances. The conditions are Acute Leukemia, Adrenal Cancer - with distant metastases or inoperable, unresectable or recurrent, Alexander Disease (ALX) - Neonatal and Infantile, Amyotrophic Lateral Sclerosis (ALS), Anaplastic Adrenal Cancer - with distant metastases or inoperable, unresectable or recurrent, Astrocytoma - Grade III and IV, Bladder Cancer - with distant metastases or inoperable or unresectable, Bone Cancer - with distant metastases or inoperable or unresectable, Breast Cancer - with distant metastases or inoperable or unresectable, Canavan Disease (CD), Cerebro Oculo Facio Skeletal (COFS) Syndrome, Chronic Myelogenous Leukemia (CML) - Blast Phase, Creutzfeldt-Jakob Disease (CJD) - Adult, Ependymoblastoma (Child Brain Tumor), Esophageal Cancer, Farber's Disease (FD) - Infantile, Friedreichs Ataxia (FRDA), Frontotemporal Dementia (FTD), Picks Disease -Type A - Adult, Gallbladder Cancer, Gaucher Disease (GD) - Type 2, Glioblastoma Multiforme (Brain Tumor), Head and Neck Cancers - with distant metastasis or inoperable or uresectable, Infantile Neuroaxonal Dystrophy (INAD), Inflammatory Breast Cancer (IBC), Kidney Cancer - inoperable or unresectable, Krabbe Disease (KD) - Infantile, Large Intestine Cancer - with distant metastasis or inoperable, unresectable or recurrent, Lesch-Nyhan Syndrome (LNS), Liver Cancer, Mantle Cell Lymphoma (MCL), Metachromatic Leukodystrophy (MLD) - Late Infantile, Niemann-Pick Disease (NPD) - Type A, Non-Small Cell Lung Cancer - with metastases to or beyond the hilar nodes or inoperable, unresectable or recurrent, Ornithine Transcarbamylase (OTC) Deficiency, Osteogenesis Imperfecta (OI) - Type II, Ovarian Cancer - with distant metastases or inoperable or unresectable, Pancreatic Cancer, Peritoneal Mesothelioma, Pleural Mesothelioma, Pompe Disease - Infantile, Rett (RTT) Syndrome, Salivary Tumors, Sandhoff Disease, Small Cell Cancer (of the Large Intestine, Ovary, Prostate, or Uterus), Small Cell Lung Cancer, Small Intestine Cancer - with distant metastases or inoperable, unresectable or recurrent, Spinal Muscular Atrophy (SMA) - Types 0 And 1, Stomach Cancer - with distant metastases or inoperable, unresectable or recurrent, Thyroid Cancer, and Ureter Cancer - with distant metastases or inoperable, unresectable or recurrent.


 

Mr. James R. Shaw, President and CEO of The Shaw Group - Shaw Management Corporation, Belleville, Illinois, was named a board member of the Area Agency on Aging of Southwestern Illinois. Joy Paeth, Chief Executive Officer for Area Agency on Aging for Southern Illinois explains why they chose Mr. Shaw, "it is our mission to advance positive aging among individuals, organizations and communities.  Mr. Shaw’s experience assisting persons with disabilities, background in Social Security and sincere desire to serve will help the Area Agency on Aging further this mission.“

 


 

Mr. James R. Shaw, President and CEO of The Shaw Group - Shaw Management Corporation, Belleville, Illinois, was named President of the National Association of Disability Representatives (N.A.D.R.) September 1, 2004. N.A.D.R., Inc. is a not-for-profit organization of Professional Social Security Claimants Representatives who provide Social Security educational seminars, offer a free national referral service and maintain a strong informational network among its members. Mr. Shaw has been a charter member and served Vice President of N.A.D.R for four years. During his Presidency, Mr. Shaw's efforts focused on working with Jo Anne B. Barnhart, former Social Security Commissioner, on her Social Security Demonstration Projects. During his 2 year tenure as President the first Demonstration Project test was administered to non-attorney representatives across the U.S.P.L. 108-203 allowed those who passed the test to have direct fee payments from Social Security on both Title II and SSI claims, the same as attorneys who practice Social Security law.

Mr. Shaw's Social Security experience has spanned 35 years, 20 of which he has dedicated to his company, The Shaw Group - Shaw Management Corporation located in Belleville, Illinois, where he and his experienced staff help clients secure their Social Security Disability benefits. They have helped their clients in more than 4,000 cities in Canada, Puerto Rico, and the United States.

 


SSA Has The Answers

According to Internet experts, only a software company that produces popular video games had more hits on the "Frequently Asked Questions" section of its website last year than Social Security did. Social Security has more than 600 questions and answers listed on its site. If you cannot find one that answers your question, you can submit your own and get an E-mail response. Got a question? Get an answer!
http://ssa-custhelp.ssa.gov/cgi-bin/ssa.cfg/php/enduser/std_alp.php

 


Social Security Delivers Most Popular Baby Names

The most popular baby names in the United States for 2007 remain Jacob and Emily. The couple is becoming quite comfortable as leaders of the pack - Emily has been the most popular girl's name each year since 1996; Jacob has been the most popular boy's name since 1999.

"Each year, Social Security produces the most popular baby names list based on all Social Security card applications for children born the previous year," said Jo Anne Barnhart, Commissioner of Social Security.

A list of the 1,000 most popular baby names for 2006, and lists categorized by state, can be found on our website - where users may also apply for benefits, request replacement Medicare cards and calculate future benefits.

For more information - or for help naming your baby-to-be - read our news release.
http://www.socialsecurity.gov/pressoffice/pr/baby-names2007-pr.htm

 

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