Important – Social Security, SSDI, SSI, Low Income – Your Benefits | Fixed Income Beneficiaries Receiving Social Security, SSI, SSDI, Low Income, Medicare, VA Beneficiaries

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Important - Social Security, SSDI, SSI, Low Income - Your Benefits Fixed Income Beneficiaries Receiving Social Security, SSI, SSDI, Low Income, Medicare, VA Beneficiaries
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Important information for Social Security, retirement, disability, SSDI survivors, SSI VA, RRB, low income, and no income. Some key information we need to watch closely over the coming days.

So just the other day, I was out on a separate topic talking about a variety of different dates that we need to watch closely through the month of April. If you happen to see that video from the other day, I walked through multiple different dates, probably eight or maybe nine different dates throughout the month of April that we need to watch closely. However, I do want to give some special attention to a couple of these dates here’s. Why? Because a couple of these dates are going to impact about 60 to 80 million Americans who are low income or living on a fixed income.

So these couple of dates here that I want to focus on and give some special attention to are very, very important. Now, I also do recognize there’s a lot of you in this community receiving fixed income benefits, maybe from Social Security, maybe retirement or SSDI survivors or SSI, VA, RRB, and a lot of low income, low-income seniors, elderly people with disabilities. There’s a lot of us here in this community. And like I said, my dedication is to help you out. So let me break down these couple of dates here and tell you why these are so incredibly important and why we’ve got to watch this very closely.

Because here’s the deal. These couple dates and the decisions made around these dates, like I said, they’re going to impact tens of millions of people. So let’s talk through these dates one at a time here. All right. So first off, and again, I know that I talked about this the other day, but here’s the deal.

I want to talk about this in a little bit more detail here. And I do want to lay this out for you to let you know that these are actually some very important decisions coming down here for a lot of fixed-income beneficiaries. All right. So number one is April 11. This is the key date on which Medicare must report the final analysis on that Alzheimer’s prescription that we’ve been talking about since November of last year, when the Medicare Part B premium was actually announced.

Remember, it went up 14.5% or $21 and change over what it was last year. So last year in 2021, the Medicare Part B premium was $148.50 a month. Well, they raised it by $21 in change this year in 2022. I think. You know what I mean.

There’s 63 million Medicare beneficiaries out there right now. So it’s a significant number of people out there. Right? All these people are experiencing this higher Medicare Part B premium. Well, that may be changing as of April 11.

That’s why you got to watch this date so incredibly important or so incredibly closely, because the decisions that are made around this final analysis that’s released by Medicare sometime on or before, no later than the end of the day, April 11, that is when it is due. But who knows? Maybe they’ll get an extension, but let’s hope they don’t. But anyway, they need to come up with their final analysis on this Alzheimer’s prescription. Let us know what they’re going to do as far as are they going to cover it?

If so, at what rates are they going to cover it? Are they going to cover it for a specified number of patients? Are there going to be other requirements in order to be eligible to get that prescription? What are the details about all of it? So that’s one reason we’ve got to watch it closely is because here’s why in 2022, you might not recognize this, but here’s the thing.

Out of that $21, I believe it’s $21.70 is what they raised the Medicare Part B premium in 2022 over 2021. Check this out. All the $21 premium increase, $11 of that premium is coming to actually build essentially a stockpile of money for that Alzheimer’s prescription. So you got 63 million Medicare Part B beneficiaries out there who are paying an extra $11 per month in their benefits for their premium every single month. That’s a lot of money, by the way, every single month to pay for this very expensive prescription item.

That’s why it’s important to watch this because literally half of the premium increase that we’re experiencing this year in 2022 is because of that one Alzheimer’s prescription. I’m not saying it’s a bad thing. I’m just simply saying if that prescription can help out a lot of people, then great, that’s nice. It’s good. And then fine.

Hopefully, they can get some really good benefits from that prescription. But basically what Medicare is doing is they’re having everybody pay an extra $11 in their premiums every single month since the start of 2022 to cover this very, very expensive prescription item that’s not that many patients at the end of the day are really going to be taking, based on my research on it. So anyway, they’re doing that. However, as a result of this announcement out of Medicare, by the end of the day on April 11, we’ll decide, OK, what’s Medicare going to do as far as the coverage of this prescription item. From there, we will then hear from the Health and Human Services Secretary, who has already said they’re going to wait for or he is going to wait for this final analysis out of Medicare.

And then he’s going to base his decision on what to do with the Medicare Part B premium going forward. Well, we’re crossing our fingers that hopefully, they reduce it by who knows how much, $10, $11 a month. I know it’s not much, but you know what? At the end of the day, if we run all the numbers out, it’s going to be about $120 a year at that rate. So again, I’m not going to be here.

I’m not going to say and speculate and kind of make up things as far as how much it could be. Honestly, I have no clue. That’s why we’re waiting for that very special announcement and the big announcement on or around April 11 when that information comes out of Medicare. And then, of course, the Health and Human Services Secretary also comes out and announces what they are going to do with the Medicare Part B premium going forward. So I’m just saying, even if they reduced it by, let’s just say $10 a month, that would be $120 a year.

Again, $120 a year these days is well, number one, it’s not going to get you much. But number two, it is money that all of us need very badly right now. Kind of makes sense. So anyway, I have no idea what that number maybe, but that’s why we got to watch it closely and see what that Secretary actually announces with the Medicare Part B premium and possibly the reduction to it. It’d be a good thing.

Yeah, it’d be pretty nice. All right. So let’s fast forward here a couple of days out to April 15. Now, I know that I’ve mentioned this date previously in some dedicated topic as well, but again, I want to reiterate this one because it’s very important because it’s going to impact millions of people. So here’s the deal.

On this date. It is when the public health emergency declaration is set to expire by the end of the day on April 15. So if it does not get extended out once again, which by the way, over the last two years here, it’s been extended out multiple times as it approaches the actual expiration date. It’s been extended out. The last time was in mid-January, and it got extended out 90 days.

So hopefully they’ll extend it out once again. But once the public health emergency declaration actually does expire or they cancel it. Well, that actually takes away a lot of privileges of the States to actually send out extra benefits in the form of Snap benefits and Medicaid coverages for many low income individuals. So we’re crossing our fingers right now that they will actually extend this thing out, maybe another 60 or 90 days. I’m not really sure.

But it’s all based on a lot of COVID situations and everything right now. Right. So as we probably know, because we’ve talked about a little bit here recently, COVID for the most part, we didn’t hear about it for maybe like a month or so. There maybe around. I don’t know, maybe February ish time, February maybe into early March or so.

We didn’t really hear a whole lot about COVID at all. It was just like nothing. Right. And all of a sudden here over the last couple of weeks, we’ve been seeing a little bit more information coming out, and there’s actually surging cases all across the world right now. A lot of Chinese cities are in lockdown.

We’re seeing record cases across multiple other countries, massive surges across European countries as well. And they’re actually predicting that we’re probably going to see some probably increased cases here in the United States in the next couple of weeks as well. Well, that’s not a good thing. But at the same time, if we’re waiting and we want the public health emergency declaration to continue to be in place and to stay there, well, then I guess you could say the COVID spikes might actually be a good thing when it comes to this declaration staying in place. So I guess it’s kind of like it’s like a good and bad at the same time, right?

It’s a give and take. One is bad, one is good. And I guess ultimately maybe something will stay in place. But anyway, so this is something else we’ve got to watch closely. Between the April 11 announcement, there are 63 million beneficiaries receiving Medicare at the same time between Snap and Medicaid.

I’m not sure about Medicaid, but I know for Snap, there’s about 43 million beneficiaries of Snap as well. However, to be totally clear, there is some overlap between these two. So regardless, at the end of the day, this is going to impact, like I said, millions and millions of people just between these two dates and the very important decisions that are made out of Medicare and ultimately, what is made by essentially the administration with the public health emergency declaration and the Health and Human Services Department. So they are basically the ones who have all the cards right now and kind of our livelihoods going forward are going to be based on these couple of very important decisions.

So as you can see here, you kind of get why I wanted to talk about this again, because it is important. And I do know that there’s a lot of you in this community who are, again, low-income, fixed-income seniors, elderly people with disabilities, maybe SSDI or SSI beneficiaries, survivors or retirement beneficiaries, VA beneficiaries, RRB. I know there’s a lot of low-income individuals here as well. And like I said, I want to do whatever I possibly can to explain things in such a way that makes sense. I know sometimes I don’t explain things the best way.

I apologize. I’m working on it. I’m trying to do whatever I can to help you out here. But as I do this research and as I come across all this information, I always want to make it very clear that, hey, these are the key dates we’ve got to watch here going forward. Now, of course, there will be more key dates going forward over the coming days and weeks, but these are the ones that are kind of on the docket as of right now.

These are ones that are on the horizon that again, I want to watch closely going forward because I know it’s going to impact a lot of you here. And ultimately, I want to continue to be your best daily advocate as that is my commitment like I’ve said so many times here, and I just want to do whatever I can for you. So anyway, if you have any questions or comments, please leave those down below. I do my best to read and respond to as many comments as possible. I’m going to be honest with you, though.

I can’t respond to every single one of them. I try, but it’s just impossible for me to do that. However, I do read as many as possible. So if you do have any comments or questions, leave those down below. If I need to make a dedicated video, of course I can always do that as well.

Please enjoy your day.

I’ll see you soon again. And thanks so much for being part of the community. I really do appreciate it. Enjoy. I’ll catch you again later.

I’ll see it for now.

 

 

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