Regrettably, this uncertainty persists during the on-going deficit reduction discussions. Those who received services paid for by Medicare will not be affected by the automatic budget cuts due to the failure of the Joint Select Committee on Deficit Reduction to reach a compromise. Nevertheless, I am concerned that providers are not also shielded from those cuts. That is why I am co-sponsoring H.R. 3519, legislation to protect Medicare providers from the 2 percent cuts that were part of the Budget Control Act of 2011. .Bloomberg News reports that the legislation would establish a task force on older investors at the Securities and Exchange Commission. This Senior Investor Taskforce would be required to identify challenges such as the financial exploitation and cognitive decline of investors older than 65, and to consider whether rules issued by the SEC or securities self-regulatory organizations should be changed to benefit them. .Susan has rheumatoid arthritis and was taking Humira, a drug that would cost more than ,000 out-of-pocket if she had to purchase it through a Part D plan. Prior to starting Medicare, she paid a .00 per month co-pay for Humira through her husband's insurance. Before starting on Medicare though, Susan decided to try a less expensive older generic, Methotrexate, which costs just .00 per month through her Part D plan. .Former doughnut hole coverage gap: After spending the initial coverage amount of ,005, you are responsible for 25% co-insurance for both generic and brand name drugs, plus a portion of the pharmacy dispensing fee which is approximately $$Your drug plan pays 75% of the cost of generic drugs and 5% on brand-name drugs. The drug manufacturer provides a 70% discount on brand-name drugs. Your total costs in this stage could run as high as ,345 between the end of the Initial Coverage Period and the Catastrophic stage of coverage begins. Altogether, beneficiaries could be responsible for as much as ,350 in TrOOP, which includes the drug costs paid by the beneficiary and the 70% discount on brand-name drugs provided by the drug manufacturer. Payments made by the drug plan DO NOT count TrOOP costs. .Lawmakers remained in their home states and districts this week for the August recess. They are expected to return to Capitol Hill on Tuesday, September 8th. In the meantime, many Members of Congress will attend local events and hold town hall meetings, giving constituents an excellent opportunity to voice their concerns and have their most pressing questions answered. .Understand what is covered and what isn't. First the good news: You are probably covered in case a meteorite strikes your home. Now the bad: Your coverage probably doesn't protect you from floods or even a sewer back up. You may be underinsured. Insurance industry surveys indicate, for example, that 43% of homeowners believe damage from heavy rain flooding is covered under the standard insurance policy. It isn't. To be protected you must purchase supplemental flood insurance or other types of riders to your homeowners policy. The same may be true of wild fires, mudslides, sink holes and other natural disasters. If you live in a high-risk zone, consider adding flood or other supplemental coverage. .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 his speech, President Obama also spoke briefly about a new retirement savings plan that will allow citizens to invest in low-risk Treasury bonds through "myRA" accounts. Shortly after the speech, he signed a presidential memorandum directing the Treasury Department to create the new plans. While TSCL agrees that saving for retirement is crucial for younger generations, we were disappointed that the President did not propose any efforts to assist today's seniors. Most Americans over the age of sixty-five rely heavily upon their Social Security checks to meet their daily needs. However, our research shows that seniors are unable to keep up with rising costs – their expenses are rising more than twice as fast as the Social Security cost-of-living adjustment. We strongly believe that Congress should act soon to restore the purchasing power of Social Security benefits. .MA enrollees could be impacted by the ACA's cuts in other ways, as well. They could begin to see higher premiums, deductibles, or co-pays in the coming years. They could also see reduced supplemental benefits like vision or dental coverage. According to another expert witness at the House Ways and Means Health Subcommittee hearing – Robert Book of the Health Systems Innovation Network – by 2015, MA beneficiaries will see an average reduction of ,530 in benefits due to the reduced funding from the federal government, and in 2017 that number will grow to an astounding ,700.