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Seniors

Older Americans Act

As the population of older adults continues to grow, programs that keep seniors healthy, active, and engaged in their communities are good investments.

The Older Americans Act (OAA) is a cornerstone of our nation's commitment to seniors. I led the effort to pass a bipartisan update of the OAA in 2020. This law supports programs like Meals on Wheels, and it will also provide additional resources to service providers in Oregon and around the country to support the ability of older adults to live and age with dignity. The OAA strengthens protections against elder abuse, improves nutrition services, and updates the Family Caregiver Support Program. Increasing funding for programs that support older adults helps them stay in their homes where they can remain connected to their communities and avoid costlier long-term care.

Retirement Security

The future can be uncertain for the millions of Americans without retirement savings. In the 21st century economy, more workers switch jobs frequently and they are less likely to be covered by a traditional employer-sponsored retirement savings plan.

My bipartisan Retirement Savings Lost and Found Act was signed into law as part of the 2023 government funding bill. This new law will create an Office of the Retirement Savings Lost and Found to provide workers with tools to locate and manage accounts after leaving an employer. Tracking retirement savings accounts after leaving an employer can be extremely difficult, and many people lose access completely. The Retirement Savings Lost and Found Act will give workers tools to access and preserve their hard-earned savings.

Social Security and Medicare

Social Security and Medicare are essential programs that provide financial security and allow older adults to age with dignity. Economic challenges are not an excuse to dismantle, privatize, or compromise these earned benefits. The Social Security trust fund is solvent, and we must keep our promise to seniors by strengthening it. There are sensible reforms that can be made to bolster these programs while protecting and preserving Medicare and Social Security for current and future recipients. For example, I support raising the limit on income that is taxed for Social Security. I have cosponsored the Social Security 2100 Act, which would require our country's highest wage earners—those making more than $400,000 per year—to contribute more to the program.

Cost-of-living adjustments (COLA) to Social Security payments are essential for beneficiaries to live their lives without the risk of falling into poverty. I understand how difficult it can be to pay for prescription medications, housing, and other expenses when Social Security payments don't keep pace with rising costs. I support tying future COLAs to the Consumer Price Index for the elderly (CPI-E), an index that more accurately measures the expenses of older adults.

Rising prescription drug costs are a burden for many Americans, particularly seniors. We have made some progress with the passage of the Affordable Care Act, which made prescription drug coverage more affordable for many by reducing the gap in Medicare Part D known as the "donut hole."

The Inflation Reduction Act will reduce the price of prescription drugs by allowing Medicare to negotiate drug prices for certain medications, and will cap seniors' out-of-pocket costs at $2,000 a year. The bill also caps insulin costs at $35 per month for Medicare beneficiaries. The Inflation Reduction Act will stabilize Medicare Part D by holding annual premium growth to current levels, which will incentivize drug manufacturers and insurers to keep drug prices low.