Social Security Trustees estimated the following in their 2024 report:The Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay 100% of total scheduled benefits until 2033. At that time, the fund’s reserves will become depleted and continuing program income will be only sufficient to pay 79% of scheduled benefits. (59.5 million receive these retirement benefits.)The Disability Insurance …
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Joe Sciulli, President, Lucent/Nokia Retirees ChapterLucent/Nokia Retirees Chapter Has a Long History with NRLN by Joe Sciulli, President, Lucent/Nokia Retirees ChapterThe Lucent Retirees Organization (LRO) was formed in January 2003 for retirees from Lucent Technologies which was a spinoff of Western Electric/AT&T Network Systems and Bell Labs. Soon after the formation of LRO it joined the National Retirees Legislative Network (NRLN). …
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Funds for Medicare Advantage Part C benefits are drawn from the Hospital Insurance (HI) Trust Fund (accounting for 48% of total spending on Medicare Part A benefits in 2023). Funds for Part B and Part D (outpatient prescription drugs) benefits are drawn from the Supplementary Medical Insurance (SMI) trust fund. Beneficiaries enrolled in Medicare Advantage plans pay the Part B …
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The Medicare Trustees’ 2024 report noted, the Supplemental Medical Insurance (SMI) Trust Fund is adequately financed into the indefinite future because, unlike the other trust funds, its main financing sources — enrolled beneficiary premiums and the federal contributions from the Treasury — are automatically adjusted each year to cover costs for the upcoming year. Although the financing is assured, the …
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The Medicare Trustees’ 2024 report stated that the Hospital Insurance (HI) Trust Fund will be able to pay 100 percent of total scheduled benefits until 2036, five years later than reported last year. At that point, that fund’s reserves will become depleted and continuing program income will be sufficient to pay 89 percent of total scheduled benefits.The HI Trust Fund …
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Vern Larson, Avaya Retirees Chapter PresidentAvaya, a corporate telecommunications company, was created on October 2, 2000, as a spin-off from Lucent Technologies. The NRLN Avaya Retirees Chapter was formed in April 2016 because retirees were concerned that their pension plan was underfunded by 30 percent. On Jan.19, 2017, Avaya filed for Chapter 11 bankruptcy the first of two times. The bankruptcy …
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June 18, 2024The Honorable Xaiver Becerra, Secretary Health and Human Services 200 Independence Avenue, S.W. Washington, D.C. 20201Dear Secretary Becerra:After you read the attached June 15 article about Dan Lispi who is battling cancer and Anthem, his Medicare Advantage (MA) insurance company, I urge you to agree that Anthem deserves 0 Stars instead of its average Star rating from CMS …
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Michael Calabrese | National Retiree Legislative Network ERISA Advisory Council United States Department of Labor Hearing on PENSION DE-RISKING AND FIDUCIARY STANDARDS FOR DISTRIBUTED ANNUITIES | July 18, 2023Introduction Michael Calabrese, Senior Policy Advisor to the National Retiree Legislative NetworkMy name is Michael Calabrese, Senior Policy Advisor to the National Retiree Legislative Network, also known as the NRLN. The NRLN is a non-partisan, …
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For several years I have researched and written about how Medicare Advantage (MA) has been using federal government subsidies to offer special benefits that are denied to original Medicare enrollees. In my latest position paper (August 17, 2022), I noted that MA will cost taxpayers $53 billion in 2022 and the projection is that by 2030 the costs will be …
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Delphi Retirees Chapter Members’ Corporate LinageWikipedia serves and as an ancestry family tree for Delphi Retirees Chapter members. Their roots go back to National Cash Register Company (NCR) co-workers Charles Kettering and Edward Deeds. Working in Deeds’ barn in their spare time around 1908 they worked on developing a high-energy spark ignition system.Formation of DelcoIn 1909, Henry Leland of Cadillac …
