CMS Medicare Update (posted February 25, 2014) -
In January of 2011, the Affordable Care Act established an income related monthly adjustment amount (IRMAA) under the Part D program (prescription portion of Medicare) which is known as the Part D-IRMAA. The Part D-IRMAA is an amount added to the Part D monthly premium for individuals whose modified adjusted gross income (MAGI) exceeds certain threshold amounts. The Social Security Administration has published a document which explains the rules for higher-income beneficiaries. Note: Members who are currently paying a higher premium than the minimum for their Part B coverage are the same members who will be affected by this Part D adjustment amount.
Members who are affected by this ‘IRMAA’ provision will be billed by the Social Security Administration/Medicare for this additional premium charge. If billed, the affected member must pay this amount directly to that entity. If the member does not pay this Part D-IRMAA amount, the State-sponsored Medicare Advantage with Prescription Drug plan (MAPD) will be terminated by Federal CMS and the member will lose his/her group health, vision and prescription insurance benefits.
Click here to read the Social Security Administration’s Medicare Premiums: Rules for Higher-Income Beneficiaries.
NOTE: If your 2012 Modified Adjusted Gross Income (as reported on your 2013 tax return) is $85,000 or less for an individual/ $170,000 or less for a married couple, this information does not affect you. For more information please contact your local Social Security office.
SUAA Files Pension Lawsuit on March 6 -
The State Universities Annuitants Association (SUAA) on behalf of its members and a group of active and retired university employees filed a lawsuit on Thursday, March 6, in Champaign County Circuit Court challenging Senate Bill 1, [PA 98-599] which causes significant cuts to pubic pensions and adversely affects State University and Community College employees who are paid through the State University Retirement System (SURS). Read the complaint and more information here.
Your Media Picks – submitted by HCAA members for HCAA members
Looking for a good book, a thought-provoking movie, an article chock full of information, or a media-rich website? See what your colleagues are recommending, or share your own “find” by submitting this online form.
- Title: Ready for Your Electronic Tattoo? (click on linked name to go directly to online article)
- Media: online Computer World article
- Recommended by: anonymous
- Teaser: Find out what is “brewing” with regard to technology developments coming your way soon! Creatable cell phones, vitamin passwords, and especially electronic tattoos – how and why you may want to be using them sooner than you think!
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- locate understandable assessments of what is happening in Springfield with regard to your pensions
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We hope you enjoy your visits here and find the information useful.