Look, nobody gets wealthy off of Social Security. It's a subsistence level program. .In reality, no Social Security reduction is small, because the loss compounds over time. The problem is especially unacceptable when this problem can be prevented by Congress in the first place. Individuals who were born in 1949 and who retired at age 66 with average benefits have lost about ,915 through the end of 2021, due to the reduction in the AWI in 200Their benefits today are about per month lower than what they otherwise would have received had they been born one year earlier. Even worse is the loss over time. Assuming that an individual lives to age 90, retirees born in 1949 would lose an additional ,297 in lifetime Social Security benefits—or even more, if their benefits are higher than average. This type of benefit reduction is known as a "notch" in benefits, and those affected might be referred to as the "1949 notch babies." .Pre-Election Recess Continues .The situation is affecting lower-income seniors with modest resources because states require single seniors to exhaust nearly all of their assets, including their home equity, to qualify for Medicaid. Meyer reports that "Federal Medicaid rules allow states to exempt the home from consideration of financial eligiblilty if the family is making a good faith effort to sell, but not all states do." Depending on where they live, seniors may not qualify for Medicaid if they can't sell their home. .Alexandria, VA (October 18, 2011) Irene H., a senior living in Central Virginia, will achieve a milestone this fall that few other 86-year olds can boast of. The thrifty senior, who takes three prescription medications every day, including an expensive brand-name eye drop for glaucoma, will cut her prescription drug costs by more than ,000 since 200Her secret? Every year during the fall Medicare Open Enrollment period, Irene learns about the changes in her drug plan for the upcoming year, and then compares all her options for drug coverage. She changes plans when she finds better coverage at a better cost. .Sources: "Medicare Drug Plan Benefit Some, Others Fall Through Cracks," Robyn Shelton, The Orlando Sentinel, February 2, 200"Federal Costs Dropping Under New Medicare Drug Plan," Robert Pear, The New York Times, February 3, 200"U.S. Customs Cracks Down On Prescription Drug Shipments," Canadian Broadcasting Corporation, February 9, 200"Answers Sought on Medicine Seizures," Lisa Girion and Ricardo Alonso-Zaldivar, The Los Angeles Times, February 16, 2006. .Clobetasol propionate is one of four medications that accounted for the most significant generic price increases in 2014 according to information on the website of pharmacy benefit manager Express Scripts. The steep climb in generic drugs prompted a Senate hearing last year. The prices of more than 1,200 generic medications increased an average of 448 percent between July 2013 and July 2014, according to Senator Bernie Sanders (I-VT), ranking member of the Senate Subcommittee on Primary Health and Aging. ."The ability to withstand major downturns in the economy is particularly important in retirement, yet extraordinarily difficult for today's retirees and those nearing retirement," says Johnson. "There are a number of factors that are reducing available retirement income from traditional sources," Johnson says. .Get an annual check up. Case in point: I recently helped a senior who hadn't seen a doctor in years, despite being a smoker. It took some urging, but she finally got a physical. She was shocked to learn that her blood pressure was high — dangerously so — and wound up driving straight to the pharmacy with a prescription for blood pressure medication. Visits to the doctor are far less expensive when you get there under your own steam rather than via an ambulance gurney. Starting this year, Medicare covers a yearly annual "wellness" exam and you pay nothing, if your doctor "accepts assignment" or the amount Medicare pays for the service. Do this before I have to nag you, too.