This week, one new cosponsor – Rep. Gregorio Kilili Camacho Sablan (MP) – signed on to the Consumer Price Index for Elderly Consumers (CPI-E) Act (H.R. 1030), bringing the total up to twenty. If signed into law, the CPI-E Act would base the Social Security COLA upon the spending patterns of seniors. Currently, it's based upon the way young, urban workers spend their money – a method that underestimates the spending inflation that seniors experience each year. .TSCL originally made this proposal with the massive support of our members. It is designed to provide fair compensation for the lower benefits Notch Victims receive. It has now been introduced as Bills in Congress. If passed, it will provide a Settlement payment of ,000 to each living Notch Victim or their beneficiary spouse. .The article continued, "The NBER study zeros in on how increases in prescription drug costs among Medicare recipients affect patient choices and comes to a stark finding: ‘Patient cost-sharing introduces large and deadly distortions into the cost-benefit calculus,' the report said." .The report adds that, "The pharmaceutical industry has already shattered records this year, spending an unprecedented million to lobby the federal government in the first three months of this year, according to the CSP, including .7 million from PhRMA. Stephen Ubl, the CEO of PhRMA, criticized H.R. 3 last month, claiming it would ‘destroy an estimated one million American jobs.' The U.S. Chamber of Commerce, the biggest lobbying spender this year, has also come out against the bill, comparing it to ‘government price controls' and claiming it would cost hundreds of thousands of jobs. .She had a very tempting decision. If she "opted out" and decided not to take supplemental coverage through her former employer, she could join a new Medicare Advantage plan and pay Want more information on the 2015 COLA Announcement? Read TSCL's latest press release .Do you think Social Security's funding should be strengthened? Consider attending a local town hall in your area. Sign up to ask questions, or approach a staffer of your Member of Congress to relay your ideas. Together, we can make the case that better retirement security can't be achieved through cutting the benefits that more than 61 million people depend on, but rather by everyone paying their fair share during their working years. .TSCL believes this is good news for the Social Security and Medicare systems, but there is no doubt that if the deferred taxes are never re-paid, it will cause major damage to both programs. .If adopted, the bill would strengthen and reform the Social Security program responsibly, without enacting any benefit cuts for older or disabled Americans. Among other things, it would: boost Social Security benefits by 2 percent, protect against inflation by basing cost-of-living adjustments (COLAs) on the CPI-E, create a new minimum benefit set at 125 percent of the poverty line, and cut taxes for over 12 million Social Security beneficiaries. .Second, one new cosponsor – Representative Bradley Byrne (AL-1) – signed on to the bipartisan Social Security Fairness Act (H.R. 1205), bringing the total up to 195 cosponsors. If adopted, this critical bill would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two provisions that unfairly reduce the Social Security benefits of millions of teachers, police officers, and other state and local government employees each year. Its passage would ensure that retired public servants receive the Social Security benefits they have earned and deserve. .A recent study by TSCL, which examines the price changes in the goods and services typically purchased by retirees, found that Social Security benefits lost 30 percent of their buying power since 2000. The loss of buying power jumped 7 percent in just one year, rising from 23 percent in 2016, to 30 percent in 201The steep one-year loss of buying power occurred as costs rose far more rapidly than the COLA and it is an early indication that the COLA for 2018 will likely be higher than usual. .The hearing examined in particular the drug company AbbVie, which makes Humira and Imbruvica, two drugs widely used by seniors. . Four Key Bills Gain Support in Congress .Most people don't know where to begin, and the process is designed to overwhelm you before you start. You, however, do not have to be one of these people. All you need to do is to call and set up a free counseling session with a local Medicare benefits counselor. Do this NOW. Locate the program in your area on the State Health Insurance Program website — https://www.shiptacenter.org. premiums for her hospitalization, doctors' and outpatient coverage. In addition, the plan also offered hearing, vision, dental and Part D drug coverage. .This week, one new cosponsor – Rep. John Sarbanes (MD-3) – signed on to the Protecting and Preserving Social Security Act (H.R. 1811), bringing the total up to eleven. If signed into law, H.R. 1811 would base Social Security cost-of-living adjustments (COLAs) on the Consumer Price Index for the Elderly (CPI-E) and it would gradually phase out the cap on income subject to the payroll tax. It would extend the program's solvency for decades into the future responsibly, without cutting benefits for seniors. .The age at which you start receiving full Social Security benefits varies depending upon the year you were born. For people like you who turn 66 in 2021, your full retirement age is 66 and two months. For more retirement planning information visit www.SocialSecurity.gov. .According to a report in The Hill, a Washington, D.C., newspaper, "There are further administrative steps that need to happen before the proposal will actually take effect and result in lower drug prices. The secretary of Health and Human Services will have to issue the details of the proposal, and there will be an array of questions as to how the policy will work in practice. .The sharp drop in benefits was unexpectedly steep and unduly harsh for those born from 1917 through 192According to economist Haldi, the decline in average benefit payments "was a highly unusual phenomenon, because benefits normally would be expected to increase slightly from one year to the next for people similarly situated. (7)"