Medicare Part D #02 - August 2019

Hong Kong is a great international commercial and financial center because of the rule of law. Similar to the United States, Hong Kong has benefited from the development of the common law and the rule of law created by centuries of conflicts and political agreements mostly occurring in England.

Welcome to FreedomWorks Foundation’s sixteenth regulatory review of 2019! Our Regulatory Action Center proudly updates you with our favorite tidbits from the swamp. We want to smash barriers between bureaucracy and the American people by delivering regulatory news straight to FreedomWorks activists. Check back in two weeks for the next edition.

It has been about four years since I have blogged. One of my last blogs was about excessive government spending. Since the blog continued excessive spending has increased the federal debt and is putting an immoral unpaid tax bill on American children and grandchildren.

Created in 2003 as part of the Medicare Modernization Act, Part D of Medicare was designed to provide financial aid for prescription medication purchases of Medicare beneficiaries. As of 2018, 43 million people receive prescription drug coverage under Part D; 58% of those are on a stand-alone prescription drug plan, as opposed to the Medicare Advantage plans that provide supplementary coverage. Though is is open to all Americans who receive Part A and/or Part B benefits, Part D is an entirely optional program.

Earlier this year, a recently retired Minnesota man by the name of Rob Undersander and his wife applied for federal benefits under the Supplemental Nutrition Assistance Program (SNAP), formerly known as food stamps. After a three-week waiting period, Undersander was astonished to find that he had been granted federal benefits totalling $278 per month. After donating his benefits to charity, Undersander contacted his Congressmen in order to tell them about his peculiar situation.

1) Don’t we already have term limits?

The good news is that there are more retirement assets in the United States than ever in our nation’s history - more than $29 trillion. But some of us may have savings gaps in our nest egg. If so, we will be working much longer. But our extended work life can be more productive and creative if we heed some lessons.