Monterey, CA President Biden To Focus On Nursing Home & Assisted Living Reform
Free N95 Masks Coming Soon To A Drugstore Near You
The Biden administration is expected to begin distributing a whopping 400 million free N95 masks to Americans all over the country. The masks are coming from the Strategic National Stockpile and will be distributed via local pharmacies and community health centers. The number of masks being distributed comprise about half of our National Stockpile.
Biden Lays Out Plan To Cut Drug Prices
President Joe Biden recently signed an executive order that aims at lowering drug prices, and it actually has teeth. One provision is that the government can now take legal action against companies that collude to try and keep generic drugs from coming to market. Another allows states and Indian tribes to import drugs from Canada. He also directed the FDA’s parent agency, the Department of Health and Human Services, to issue proposed rules within 120 days to allow hearing aides to be sold over the counter. The four largest makers of hearing aides control 84% of the market. Because they are so expensive, only 14% of the 48 million Americans suffering from hearing loss use the devices. Still, some criticized the order because it doesn’t give Medicare the power to directly negotiate prices with drug companies. “Negotiation of prices is the biggest and best solution,†to lowering drug prices, said Diana Zuckerman, president of the National Center for Health Research, a nonprofit based in Washington D.C.
President Biden Fires Head Of Social Security Administration
In a rare move, a senior government official, Andrew Saul—the Commissioner of the Social Security Administration, was asked to resign by the President of the United States and refused. As a result, President Biden, after receiving advice from White House Counsel that he could legally remove him, fired him. Saul had a contract to serve a six-year term expiring in January of 2025 which only allowed for his termination for “neglect of duty†or malfeasance in office.â€Â However, the Supreme Court recently ruled requiring cause for removal of a federal employee was unconstitutional. Perhaps preparing for a legal battle with Saul, The White House issued a scathing press release which said, “Since taking office, Commissioner Saul has undermined and politicized Social Security disability benefits, terminated the agency’s telework policy that was utilized by up to 25% of the agency’s workforce, not repaired SSA’s relationships with relevant federal employee unions including in the context of COVID-19 workplace safety planning, reduced due process protections for benefits appeals hearings, and taken other actions that run contrary to the mission of the agency and the president’s policy agenda.â€Â President Biden also called for the resignation of the agency’s deputy commissioner David Black, who submitted his resignation. Kilolo Kijakazi, the Social Security Administration’s deputy commissioner for retirement and disability policy, will serve as acting commissioner.
https://federalnewsnetwork.com/people/2021/07/biden-fires-saul-as-ssa-commissioner/
Biden Lays Out Plan To Cut Drug Prices
President Joe Biden recently signed an executive order that aims at lowering drug prices, and it actually has teeth. One provision is that the government can now take legal action against companies that collude to try and keep generic drugs from coming to market. Another allows states and Indian tribes to import drugs from Canada. He also directed the FDA’s parent agency, the Department of Health and Human Services, to issue proposed rules within 120 days to allow hearing aids to be sold over the counter. The four largest makers of hearing aides control 84% of the market. Because they are so expensive, only 14% of the 48 million Americans suffering from hearing loss use the devices. Still, some criticized the order because it doesn’t give Medicare the power to directly negotiate prices with drug companies. “Negotiation of prices is the biggest and best solution,†to lowering drug prices, said Diana Zuckerman, president of the National Center for Health Research, a nonprofit based in Washington D.C.
Monterey, CA Tips On ROTH IRA Conversions
Tax rates are likely to go up under the Biden administration, and one hedge against this is to convert an existing IRA or 401(k) to a Roth IRA. You will have to pay taxes on the amount converted but then the IRA grows tax free. Talk to a tax advisor—and make sure you wait closer to year-end before doing it in case tax rates increase this year. Or let Monterey Bank or one of our other local banks walk you through the rules. There are few—for instance, there are no Required Minimum Distributions from this type of IRA. Talk to Monterey Credit Union, Monterey County Bank or many of the other local financial institutions to open an account, or a financial advisor for advice.
Family Caregivers Could Benefit Under Biden Administration
President Biden is calling on Congress to pass legislation that would allocate $450 billion over 10 years to enable Medicaid recipients to choose to be cared for at home or in the community rather than be placed in a residential facility. Family caregivers would receive a tax credit of $5,000 per year. Let’s hope it passes!