Upon introducing the Protecting Medicare Beneficiaries Act, Sen. Wyden said, "Today's fix will protect over 370,000 Oregonians and millions of seniors across the country from an abrupt and dramatic increase in Medicare costs. It is urgent that Congress take decisive action to ensure vulnerable Americans aren't harmed by this archaic policy." .If you're like most seniors, you probably depend on Social Security for at least half of your income. But how well does the annual cost-of-living adjustment (COLA) protect you from rising costs? TSCL will soon release some answers to this question with the results of its 7th Annual Survey of Senior Costs. In recent years these surveys have indicated that Social Security beneficiaries lose a considerable portion of their buying power — as much as 31 percent — in as little as the first decade of retirement. .But according to TSCL studies, Medicare Part B premiums are one of the single fastest - rising senior costs. Data from TSCL's annual survey of senior costs indicate that with next year's Part B increase, premiums will be 168% higher than 2000, rising on average 10.5% per year, even though there was no increase at all over the past two years. Part D premiums have grown roughly 60% since the program started in 2006, averaging about 6% per year. .You might be able to avoid doing so. Coronavirus stimulus legislation (CARES Act) that was signed into law in March waives required minimum distributions (RMDs) in 2020 for anyone who owns a 401(k), 403(b), or IRA. Instead of taking money from your retirement accounts this year, retirees can wait, or take less, to give investments time to recover. That's helpful, because most RMDs are based on the value of your retirement accounts on December 31st of the previous year. .TSCL believes these three Medicare improvements were long overdue, and we were pleased that lawmakers reached across the aisle earlier this year to address them once and for all. For more information about the Bipartisan Budget Act and the other Medicare improvements TSCL is advocating for on Capitol Hill, visit our website at . ."Based on the new data through August, there's a downward inflation trend," Johnson says. "Although my calculator indicates the COLA could be 6.1 percent, the chances of inflation remaining high enough for that to occur is only 10 percent based on 20 years of historic trends. The chances of the data dropping to 6 percent are twice that high, 20 percent. "With the July and August consumer price data, inflation is plateauing," Johnson says. .Because Medicare doesn't negotiate drug prices, there are huge variations in cost for the same drug between drug plans, and even between pharmacies in the same plan. The difference in drug prices between the lowest and highest costing plans and pharmacies can be in the hundreds, or even thousands, of dollars. The high cost of drugs are the single biggest reason that people don't fill a prescription! But the most frequent reason that a drug costs so much more in the highest costing plan is lack of coverage by the drug plan —the drug is not listed on the plan's formulary. Sometimes, the pharmacy is not in the plan's preferred "network", and even preferred pharmacies can have significantly higher costs. For example, the lowest cost plan for Sovaldi, a drug used to treat Hepatitis C, charges ,600 in co-insurance (for a one-year treatment). The highest cost drug plan charges 0,800, the full cost of the drug, because Sovaldi is not on the plan formulary. The lowest cost plan for Advair Diskus, which is used to control and prevent symptoms of pulmonary disease, charges a co-pay of .33 per month from a mail order pharmacy, or the highest cost plan charges 6.62 per month because the drug is not on the plan's formulary. .Sources: "Do You Like Your Doctor? Obamacare Drives UnitedHealth to Downsize its Medicare Physician Networks," Avik Roy, Forbes, November 18, 2013. .For more than three decades the government has quietly made numerous changes to how the cost of living is defined and measured — asserting that the changes make the CPI more accurate. The general public for the most part is unaware of the changes, and more importantly the financial impact on benefits has never been publically disclosed.