Health and Financial Security for Retirees

Florida’s 22nd district is home to a large community of retirees, and Congressman Ted Deutch is committed to protecting their health and financial security. As a member of the House Seniors Task Force, Ted believes that the ability to retire with dignity and financial security after a lifetime of hard work is a cornerstone of the American dream. In the 115th Congress, Ted will continue to champion the needs of America’s seniors, from strengthening Social Security and Medicare to protecting seniors from financial fraud and abuse.

Strengthening Social Security

Ted has made protecting Social Security for today’s retirees and future generations of Americans one of his top priorities in Congress. His comprehensive legislation to fix Social Security’s broken cost-of-living adjustment formula, phase out the cap on contributions to the program, and extend its solvency has been highlighted by the New York Times and endorsed by leading advocacy groups, including the Strengthen Social Security coalition.

Fighting Fraud and Abuse

With record numbers of Americans entering retirement and relying on the Medicare system, protecting Medicare for current and beneficiaries is a top priority for the South Florida community. That’s why Ted is leading efforts to better protect seniors from other types of financial crimes. He is the author of the Seniors Fraud Prevention Act, a bipartisan bill to combat financial fraud designed to target seniors. With more than $15 trillion in assets nationwide, retirees are increasingly targeted by sophisticated criminals peddling fraudulent investment plans, financial schemes, fake charity and sweepstakes drives, and other scams. The Seniors Fraud Prevention Act will establish a Federal Trade Commission office devoted to tracking scams that target seniors and working with law enforcement to protect our communities from fraud.

Strengthening Medicare Prescription Drug Coverage

Ted believes that seniors should never be forced to choose between paying for basic necessities and the medications prescribed by their doctors. That’s why he has consistently opposed partisan-attacks on the Affordable Care Act, which included desperately-needed fixes to the Medicare Part D prescription drug program. The law is actively closing the dreaded Medicare “donut hole” gap in prescription drug coverage, which saddled seniors with thousands of dollars in out-of-pocket costs for their medications. Already, more than 8.2 million seniors and disabled Americans have saved nearly $12 billion on prescription drugs under health care reform, and the donut hole will be completely closed by 2020. In the 115th Congress, Ted will continue to advocate for greater prescription drug savings for seniors, including by giving Medicare the authority to negotiate with the pharmaceutical industry.

Extending Solvency and Lowering Costs

The Affordable Care Act is also lowering costs for seniors and extending the solvency of the Medicare Trust Fund. It has improved access to primary care by eliminating out-of-pocket costs for seniors for annual wellness exams and preventative services like mammograms and colonoscopies. The law is also helping protect seniors from rising costs, with premiums for Medicare Part B staying stable for the past three years. Seniors enrolled in the Medicare Advantage program are also benefitting from cost-savings. Since 2010, the average Medicare Advantage premium has declined by approximately 10 percent and enrollment has surged by nearly 15 million beneficiaries. Beginning in 2014, the Affordable Care Act enacted additional cost-saving measures for Medicare Advantage members by requiring insurance companies to operate with greater efficiency.

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