How Much Would Delaying Retirement After Full Retirement Age Increase My Benefit? .The Senior Citizens League enthusiastically supports the Protecting and Preserving Social Security Act and the Social Security Fairness Act, and we were pleased to see them gain new cosponsors this week. In the months ahead, we will continue to advocate for their passage on Capitol Hill. For progress updates, visit the Bill Tracking section of our website. .Eight Ways to Lower Your Prescription Costs .In response to heightened concerns over antibiotic resistance, two dozen of the world's largest pharmaceutical companies have formally launched a billion for-profit venture fund to replenish the global medicine chest with novel treatments. .A study on the buying power of Social Security benefits by Johnson has found that Medicare Part B premiums are the single fastest growing cost that retirees have, increasing 195 percent since 2000. Most retirees also have premiums for a Medicare supplement (Medigap) and Part D drug plan, or a Medicare Advantage health plan with drug coverage. Medigap premiums have increased 158 percent since 2000, and out-of-pocket spending on prescription drugs increased 188 percent. .But changes to illegal immigration enforcement can have long-term financial implications for federal benefit programs, including Social Security and Medicare. With work-authorization and valid Social Security numbers, even noncitizens can potentially become entitled to Social Security benefits with enough years of earnings or a change of legal status. At issue is whether work prior to obtaining legal status and valid Social Security numbers would count toward entitlement to Social Security and Medicare benefits — under current law it does. .The orders were issued on a Friday which left little time for analysts to review them and comment prior to the weekend. However, since then we have learned new information, we want to share with you. .It came in the mid-1950s, before health insurance for outpatient care was common, before new drugs were protected by multiple patents, and before medical research was regarded as a way to become rich. It was not patented because it was not considered patentable under the standards at the time. .The benefit reduction would be caused by a feature of the Social Security benefit formula that is sensitive to economic recessions and high unemployment. The first step in calculating benefits is to adjust the individual's earnings using the average wage index (AWI) in order to convert the value of past earnings into today's dollars. The AWI is also used to adjust the earnings levels that determine the portion of their average monthly earnings that people are allowed to keep as their benefit.