Advocacy Alert: Budget Committee scheduled to act on Medicaid package next Tuesday

The Wisconsin State Legislature’s powerful Joint Committee on Finance is scheduled to vote on the Medicaid portion of the 2021-23 biennial state budget next Tuesday, June 15. The Wisconsin Medical Society and physician specialty organizations have been advocating for a variety of Medicaid budget items that would enhance access to our state’s high quality, physician-led care:

• Extending Medicaid services to post-partum mothers from the current 60 days to one year.
• Addressing the nation’s lowest Medicaid reimbursement levels for emergency physicians, which generally are at just 37% of Medicare rates for the same services.
• Investing in primary care access by increasing reimbursement for an often-used E/M CPT code (99213).  

All three of the above items were included in Wisconsin Doctor Day 2021, where hundreds of physicians from around the state joined together in a day of advocacy, meeting virtually with lawmakers and their office staff about physician Medicaid priorities that help our state’s Medicaid participants access needed health care services.

What you can do
Contact your State Assembly Representative and State Senator and ask them to support these important investments that would help our state’s sickest and poorest citizens access health care. Even if your elected officials are not members of Joint Finance, they will generally have a Finance Committee “budget buddy” assigned to them. You can find your elected officials’ contact information on the state legislature’s home page by entering your home address into the “Who Are My Legislators?” box on the right side of the page. You can also join the Advocacy in Action group on WisMed Community to be the first to receive advocacy alerts. 

Contact Chief Policy and Advocacy Officer Mark Grapentine, JD for more information.

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PPE offer ending June 15; closeout discount

Thank you for supporting the Wisconsin Medical Society and the ActionPPE initiative. Together we delivered more than 5 million units of PPE to physicians and health care professionals across Wisconsin and America. ActionPPE will be ending online sales effective June 15.

As a final benefit, please take advantage of the 30% DISCOUNT we have secured for our Members. Control syringes, needles, exam gloves and more!

This great offer is available while supplies last and expires on June 15!

Together, we did a great job of protecting health care professionals, our patients and helping keep our practices open. Take this last opportunity to stock up on quality supplies.

Go to actionppe.org/wms, use code THANKYOU30 and save 30%!

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WisMed Meet Up Happy Hour - by popular demand

Enjoy a fun happy hour from the comfort of your couch! Join your fellow Wisconsin Medical Society (Society) members for the next virtual WisMed Meet Up. Feedback from previous Meet Ups have requested a happy hour, so don't miss this chance to connect with your peers across the state while enjoying a cocktail, mocktail or favorite beverage.

Details:
WisMed Meet Up: Virtual Happy Hour
Thursday, July 15, 6-7 p.m.
Register here 

Raffle prizes will be awarded!

All Society members are welcome. Contact membership@wismed.org for additional information.

Thank you to WisMed Assure for sponsoring this event. 

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State Worker’s Comp group briefed on health care success

At their most recent meeting on June 8, the state’s Worker’s Compensation Advisory Council (WCAC) heard from a think tank highlighting how Wisconsin’s work comp system continues to be a national model. The presentation from the Workers Compensation Research Institute comparing various states showed that Wisconsin’s work comp system:

• leads in patient satisfaction with the quality of care received following an injury
• leads in patient satisfaction with ease of accessing that care
• has the shortest period of injured workers’ temporary disability
• is among the best states in injured workers reporting an inability to return to work both one year and three years after suffering a work-related injury

The WCAC includes members from the state’s Labor and Management communities who negotiate toward an “agreed-to” bill each state legislative biennium. Any agreement reached is drafted as legislation and presented to the state legislature for consideration. The Wisconsin Medical Society is one of four entities that are health care liaisons to the WCAC. Unlike Labor and Management members, health care liaisons do not vote on any legislative recommendations.

Labor and Management haven’t yet exchanged proposals this session; it is anticipated that Management will once again propose a health care services fee schedule for the worker’s comp system, despite recent news of yet another work comp insurance premium decrease (see this story from the May 27 Medigram). Tuesday’s presentation added more facts and data showing what’s at risk if an artificial fee schedule makes providing worker’s comp care less attractive for the health care community.

Stay tuned to Medigram or reach out to Society Chief Policy and Advocacy Office Mark Grapentine, JD for additional information.

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In memoriam: Jeffrey Nelson, 1948-2021

Written by Alan I. Schwartzstein, MD

Last Wednesday, June 2, the Wisconsin Medical Society (Society) lost one of its finest former staff members, Jeffrey Nelson. Jeff was in good health at age 72 when he suddenly collapsed at home that afternoon from a ruptured brain aneurysm. The medics and ER doctors did all they could, but as we all know this is often a fatal condition.

His partner, Barbara Main, informed me Jeff did not suffer. 

Jeff served Society members as one of the extraordinary field representatives, as Director of Membership & Business Development from 2000 until his retirement in 2016. He drove to his assigned districts to meet with members, provide updates on Society activities, attend county medical society meetings and play in local golf outings, among other duties. He also drove Wisconsin Medical Society Presidents around the entire state during their year of service. He was universally liked and respected by the physicians of the Society, along with the staff.

Jeff had a prior career as a social worker at Meriter and UW Hospitals, but told me that serving 'my Wisconsin doctors' of our state gave much meaning to his life. With his personality and service, he was the quintessential person for his role as a field representative.

Jeff and I played enough golf at Society outings that it led to regular rounds all over Southern Wisconsin after his employment also. Most recently this included my spouse Laurie and Jeff’s partner Barbara. The four of us played just two weeks ago, and Jeff was in good health and humor.

Jeff will be missed by many. I hope others join me at his memorial service on July 30 at Cress Funeral Home in Madison; details available in his obituary. I know Jeff would appreciate having ‘his doctors’ show up.

I am fortunate to have called him friend.

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Reducing tax payments

From time to time, you may wonder if there are ways to reduce your tax payments. There are ways, so let’s explore a couple options.

The US uses a progressive income tax structure. As you earn income throughout the year, your first dollars are taxed at the lower tax rates. As you earn more and more, the last few dollars are taxed at higher tax rates. The highest rate is called your marginal tax bracket. Most people think every dollar is taxed at their marginal tax bracket, but it is only the last few dollars earned. Here is a short video that provides a bit more detail.

During your working years
If you are just starting out, have modest income and are still in a lower tax bracket, then paying taxes now is generally preferred. One way to do this is to make Roth contributions to your 401(k) or 403(b). In contrast, if you are in your peak earning years and need a tax deduction, traditional/pretax contributions to your 401(k) or 403(b) is preferred. This reduces your taxable income today and moves the tax payment into the future when you may be able to pay it at a lower tax rate.

Ordinary income tax brackets by age.
Green: taxable income
Lines: income tax brackets

Between retirement and age 72
Quite often, there is dip in taxable income (and therefore tax bracket) after retirement. However, taxable income may climb right back up again at age 72 when required minimum distributions start. The years between retirement and age 72 are key tax planning years to reduce lifetime taxes. By accelerating income into these low tax years, typically using Roth conversions, you can reduce your lifetime taxes. 

In addition to these strategies, taxes can be reduced by using tax efficient funds, making timely charitable gifts, locating investments in the right types of accounts and more. For personalized help with your tax planning, please contact Mark Ziety, CFP®, AIF® at 608.442.3750.

Mark Ziety, CFP®, AIF®
WisMed Financial, Inc. part of the Wisconsin Medical Society

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