By delaying the start of your benefit until your full retirement age of 66, your benefit will be 25% higher. Delay until age 70, and your Social Security payment will be 65% higher than if you start it at age 6This can make a huge difference in the monthly income you receive. For example, if entitled to a monthly benefit of ,000 at age 66, you would receive only 0 per month at age 6And if you can delay until age 70 you could take a retirement benefit of ,320. .In the meantime, the chairman of the influential Senate Finance Committee Chuck Grassley (R-Iowa) will re-introduce a drug pricing package (S. 2543) he assembled with the ranking member of his committee, Ron Wyden (D-Ore.), and soon call on Senate leaders to allow debate on the measure, a Grassley spokesman announced last week. .Interview with author Mark Miller .TSCL enthusiastically supports H.R. 1902 and H.R. 242, and we were pleased to see support grow for both of them this week. For more information, visit the Bill Tracking section of our website. .By Representative Donald Norcross (NJ-01) .TSCL agrees with Congressman Duncan, and we enthusiastically support the CPI for Seniors Act. In a letter of endorsement, Art Cooper – Chairman of TSCL's Board of Trustees – wrote: "Unfortunately, years of record-low COLAs like this one – including multiple years of zero COLAs – will have a devastating impact on the long-term adequacy of Social Security benefits for more than 59 million beneficiaries … Your bill would go a long way in ensuring the retirement security older Americans have earned and deserve, and we look forward to informing our members and supporters about your efforts on Capitol Hill." .By the time the Inspector General has performed its audit reports and given CMS its recommendations, CMS has limited, if any, time to collect before the statute of limitation expires. The OIG recommends that CMS should pursue legislation to extend the statute of limitations so that the recovery period exceeds the reopening period for Medicare payments. In addition, the OIG recommends that CMS develop a system to verify that the amount reported collected has actually been collected. TSCL heartily supports these commonsense recommendations. With Congress debating a major Medicare overhaul that would make seniors pay a higher portion of Medicare costs in the future, Congress should move quickly to close the statute of limitation loophole that's costing us millions in lost recoveries. .What Is Tracked In Determining The COLA? .TSCL's research has consistently found that Medicare Part B premiums rank as one of the fastest growing senior costs. Yet Medicare premium costs are not included in the measure currently used to determine the annual COLA — one major reason why COLAs do such a poor job of keeping up with rising healthcare costs. TSCL continues to lobby for a more fair and accurate COLA and supports legislation that would use a seniors' index — like the Consumer Price Index for the Elderly (CPI-E) — to determine the annual boost.