LoDI Refund Claim

From: John Wohlberg PBBx

The City has reached a settlement with the Internal Revenue Service (IRS) involving FICA (i.e. Social Security & Medicare) tax refunds to both the City and eligible uniformed members of the City’s Correction, Fire, Police and Sanitation Departments. The years covered by this settlement are 1989 through 2005.

Eligible uniformed members of these departments who were on authorized Line of Duty Injury (LoDI) leave at some point during the years 1989 through 2005 will likely be eligible for a refund of the FICA taxes paid on LoDI payments received for a period of six months or less. Correction, Fire and Police Department members are eligible from 1989

http://www.nyc.gov/html/opa/html/lodi_refund/lodi_refund.shtml

Wal-Mart to Offer $4 Generic Prescriptions

Wal-Mart, the nation’s largest retailer, will test a program to sell generic prescription drugs to its workers and customers at sharply reduced prices, according to people briefed on the plans and will sell generic versions of about 300 widely prescribed drugs for as low as $4 for a standard prescription, On average, generic drugs cost between $10 and $30 for a 30-day prescription.

Wal-Mart will test the lower prices at 65 stores in the Tampa, Fla., area and, depending on consumer response, is likely to expand the program next year.

http://www.nytimes.com/2006/09/21/business/21cnd-walmart.html?

MEDICARE PREMIUMS AND DEDUCTIBLES FOR 2007

FOR IMMEDIATE RELEASE
CMS Media Affairs

The standard Medicare Part B monthly premium will be $93.50 in 2007, an increase of $5.00 or 5.6 percent from the current $88.50 Part B premium, considerably lower than was earlier projected. This premium is the smallest percent increase in the Part B premium since 2001 and less than half of the dollar increase in the premium for 2006.

Premiums and Deductibles for 2007

Part A Premium: $410 (paid by about 1 percent of beneficiaries)
Part A deductible: $992
Part B standard premium: $93.50
Part B deductible: $131

Background

The Centers for Medicare & Medicaid Services (CMS) updates the premiums, deductibles, and co-payments made by Medicare beneficiaries each year. These adjustments are made according to formulas set by statute. The law requires that the standard monthly premium for Medicare Part B must be sufficient to cover 25 percent of the program’s costs for aged beneficiaries, including the costs of maintaining a reserve against unexpected spending increases. The federal government pays the remaining 75 percent. Statutory formulas are also used to determine the Medicare Part B deductible, the Part A deductible for hospital stays, and other enrollee contributions.

Medicare Costs to Increase for Wealthier Beneficiaries

It is expected to affect one million to two million beneficiaries: individuals with incomes exceeding $80,000 and married couples with more than $160,000 of income. For individuals with incomes over $200,000, the premium, now $88.50 a month, is expected to quadruple by 2009.

The surcharge was established under a little-noticed provision of the 2003 law that added a prescription drug benefit to Medicare.
“The surcharge will come as a shock to many people because they have not received any warning.” In July, Medicare officials estimated that it would be $98.40 a month. The surcharge will be phased in from 2007 to 2009.

Here is how it will work: The surcharge for 2007 will be computed by the S S A, using income data obtained by the I R S from tax returns for 2005. If an individual has modified adjusted gross income of $80,000 to $100,000, the surcharge will be 13.3 percent, which adds about $13 to the monthly premium, for a total of about $111.50. For a single person with income of more than $200,000, the surcharge will be 73.3 percent, or about $72 a month, for a total premium of about $170.50.

When the transition is complete in January 2009, according to Medicare actuaries, the total premium for a person with income of $80,000 to $100,000 will be 1.4 times the standard premium. A person with income of $100,000 to 150,000 will pay twice the standard premium. A person with income of $150,000 to $200,000 will pay 2.6 times the standard premium, and a beneficiary with more than $200,000 of income will pay 3.2 times the standard amount.

If the basic premium rises 10 percent a year — a relatively conservative forecast — the most affluent beneficiaries will be paying premiums of more than $375 a month in 2009.

http://www.nytimes.com/2006/09/11/washington/11medicare.html

Ken's Memorial Mass

Dear Members,

I was proud of the very large Club turnout for Ken’s Memorial Mass. We had 45 members and their spouses attend. Arlene was very impressed with the turnout as was her family. REMA also sent a representative Frank Matijevick. He traveled from Port St Luce. Bill Carle traveled from Georgia and back. Many members contacted me to say they were unable to attend. Thank you for showing your support for a great member.

The Priest said that Ken loved life and he married Arlene when he was 88 years young. Most men are dead at that age. Ken loved living and helping others. Some people think of dying and they do. Ken will always live.

Ken's Memorial Mass-Saturday

DEAR MEMBERS,

KEN’S MEMORIAL MASS WILL BE SATURDAY AT 10:00 AM IN ST ANN’S CHURCH 26 DOGWOOD TRAIL, DeBARY 32713.

AFTER THE MASS THERE WILL BE A GET TOGETHER IN THE BANQUET ROOM, KNOX VILLAGE, 101 NORTHLAKE DR, ORANGE CITY 32763. TELEPHONE 386-775-3840.

THE CONSENSUS IS THAT WE WEAR OUR LIGHT BLUE CLUB SHIRT OR THE DARK BLUE SHIRT.

KEN RICE Memorial Mass

DEAR MEMBERS,

KEN PASSED AWAY AT 4AM THIS MORNING IN MAJESTIC OAKS HOSPITAL, KNOX VILLAGE, ORANGE CITY. KEN IS BEING CREMATED. ARLENE SAID THERE WILL BE A MEMORIAL MASS IN ST ANN’S CHURCH 26 DOGWOOD TRAIL, DE BARY 32713, EITHER THURSDAY OR FRIDAY. ARLENE HAS THREE DAUGHTERS FLYING IN TO HELP HER THROUGH THESE TRYING TIMES.

I HAVE ALREADY HEARD FROM A FEW OF OUR MEMBERS STATING THEY ARE GOING TO ATTEND KEN’S MASS. I EXPECT A VERY LARGE TURNOUT FROM OUR CLUB.

Fraternally,
Eddie Woods
President