March 6, 2014 Page 3 Calendar Tuesday, March 18 • City Council Meeting, 6-11 p.m., City Council Chambers, 1400 Highland Avenue. Next meeting: Jan. 21. Seniors Ongoing • Sea Story time, every Sunday at 11:30 a.m., at the Roundhouse Aquarium at the end of the Manhattan Beach pier. For more info visit www.roundhouseaquarium.org.• Medicare Advantage at Risk for Seniors and Disabled (BPT) - Nearly 15 million seniors and people with disabilities are enrolled in a Medicare Advantage plan in this country. That number adds up to almost one third of the total Medicare population. Some provisions in the new Affordable Care Act (ACA), if implemented, could jeopardize Medicare Advantage benefits for each and every one of those 15 million Americans. While Medicare Advantage benefits have already been reduced, they now face additional cuts, as much as $200 billion dollars over the next 10 years. Seniors and the disabled are expected to bear the brunt of these cuts, reducing the benefits they receive. “Medicare Advantage has allowed us to provide far better overall care to our patients,” says Dr. Donald Rebhun, HealthCare Partners medical director. “And that level of care is at risk if these additional cuts go through.” According to the Coalition for Medicare Choices, Medicare Advantage is a health benefits program available to individuals who are 65 or older or those with permanent disabilities. The coverage is provided through private health plans rather than the government and is required to meet or exceed the standards set by the original Medicare program. In addition to hospital and physician coverage, Medicare Advantage plans often include other benefits such as prescription drug, vision, hearing, dental, fitness, mental health and management of chronic illness. The proposed cuts could mean higher outof pocket costs, limited choice of doctors, fewer plans managing chronic conditions and fewer plans offering dental/vision coverage and enhanced wellness/fitness services. Data from the Medicare Current Beneficiary Survey shows that Medicare Advantage plans continue to be a vital source of coverage for low-income and minority beneficiaries. For example, 31 percent of African-American Medicare beneficiaries and 38 percent of Hispanic beneficiaries were enrolled in Medicare Advantage plans, and 41 percent of Medicare beneficiaries with Medicare Advantage plans had annual incomes of less than $20,000. These programs are particularly critical to the well-being of thousands of low-income individuals who may not qualify for Medicaid and would therefore lack access to chronic disease management services. Because of these cuts, out-of-pocket costs for seniors and individuals with disabilities could also rise and premium-free comprehensive drug coverage would be in jeopardy. “Thanks to the funding we receive from our risk-based contracts, we have developed creative and innovative programs and services that have delivered better clinical outcomes. These cuts will directly impact the care we can provide to our patients,” says Rebhun. If you or a loved one has a Medicare Advantage plan, take time to research the funding cuts and reimbursement changes. Make your voice heard and tell your federal and state representatives to stop further cuts and continue to protect your benefits. To reach your representatives, visit ProtectMyMA. com/Today. • ON MARCH 17 CELEBRATE ST. PATRICK’S DAY AT THE BOWL & PARTY ALL DAY LONG! FOOD SPECIALS GREEN BEER LIVE MUSIC WEAR GREEN & when you buy one game of bowling you’ll GET ANOTHER GAME FREE For more information please call Charlotte at charlotte@pvbowl.com; or 310.326.5120 Finance Invest in U.S. Savings Bonds This Tax Season (BPT) - Millions of Americans get a refund on their taxes each year. If you are one of them, why not use part of your refund to save for the future with a Series I Savings Bond from the U.S. Department of the Treasury? You can invest as little as $50 in this affordable, safe and convenient savings option, which can help “U.S. Savings Bonds are a good investment you meet your long-term savings goals and build a brighter future. “Tax season can be a great time of year to build savings,” says Jerry Kelly, national director of the Treasury Department’s Ready. Save. Grow. campaign. “I encourage anyone who is due a tax refund to consider using part or all of their refund to grow their savings with U.S. Savings Bonds.” If you would like to buy a savings bond with your tax refund, follow these steps: 1. Fill out Form 8888 - Complete this form to designate your desired dollar amount to buy paper Series I Savings Bonds or to deposit into your TreasuryDirect account. 2. Set up a TreasuryDirect Account - Although you can buy paper savings bonds with your tax refund, digital savings bonds are even easier to manage with an online TreasuryDirect account. For instructions on how to set up a TreasuryDirect account, visit www.treasurydirect.gov and click on the tip sheet and guided tour links. 3. Give paper savings bonds as a gift with tax refund dollars - You may use your tax refund to buy paper savings bonds as a gift to others. To do so, follow the specific instructions for Part II on Form 8888. The bonds will be mailed to you. 4. Buy digital savings bonds for yourself with tax refund dollars - Deposit an amount into your TreasuryDirect account by using Form 8888. Then access your TreasuryDirect account to buy savings bonds or other Treasury securities. 5. Give digital savings bonds as a gift with tax refund dollars - You may use your tax refund to give digital savings bonds as a gift to others. Deposit an amount into your TreasuryDirect account by using Form 8888. Then use your TreasuryDirect account to make a gift of this deposit. Resources that provide guidance on gifting savings bonds include a tip sheet, demo and video that can be found on www.treasurydirect.gov. To efficiently gift savings bonds to your child using your tax refund, open a TreasuryDirect account for your child within your own account. Why Series I Savings Bonds? Series I Savings Bonds currently offer an interest rate of 1.38 percent, and they’re exempt from state and local income taxes. What’s more, interest earnings may be exempt from federal income taxes when the earnings are used to pay for qualified higher education expenses. I Bonds are long-term savings instruments that can help you save for a home, retirement, college tuition or other life goals. You must hold an I Bond for at least one year after it’s issued, but it’s best to hold it for at least five years to avoid any early redemption penalty. To learn more about the value of savings bonds, the Treasury Department’s Savings Bond Calculator will come in handy. Save with savings bonds year-round U.S. Savings Bonds are a good investment at tax time - or anytime. Payroll direct deposit through your employer is a convenient option for building a regular savings habit. Every pay day you can automatically contribute to your TreasuryDirect account and build your nest egg. To learn more about payroll direct deposit and Treasury securities, go to the Ready.Save.Grow. website at www.treasurydirect.gov/readysavegrow. The preceding information was provided by the U.S. Department of the Treasury, Bureau of the Public Debt. TreasuryDirect is a registered mark of the U.S. Department of the Treasury. Ready.Save. Grow. is a service mark of the U.S. Department of the Treasury. • Turn your tax refund into savings. at tax time - or anytime.”
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