Resources for Seniors
Americans’ retirement security is slowly eroding
as companies renege on their promises of pensions and health benefits to
retirees, the Social Security program remains under ideological attack and the
cost of prescription drugs continues to rise.
Pensions
Recently, we have
seen more and more companies - even profitable ones - slash retirees'
hard-earned benefits and leave individuals who carefully planned for retirement
with an uncertain future. As a member of a U.S. House of Representative
committee with jurisdiction over pension legislation, Congressman Tierney has
for some time joined his like-minded colleagues in pressing for appropriate
action as this problem arose. Further, Congressman Tierney
authored The Emergency Retiree Health Benefits Protection Act (H.R.
1322). This legislation had over 95 co-sponsors in the 108th Congress - and the
need for action on this issue has only increased with the passage of Medicare
reforms. In recent years, of the employers that do offer health care coverage,
many have reduced the terms of coverage by increasing premiums, copayments, and
deductibles, resulting in a gradual erosion of employer-sponsored benefits. This
bill would stop profitable companies from profiting by cutting the hard-earned
health benefits of retirees.
Medicare Part D
Congressman Tierney is also working hard to
correct parts of the new Medicare prescription drug plan, Medicare Part D.
Instead of providing a guaranteed, defined
prescription drug benefit available to all under Medicare, he believes
the bill that created this new Medicare prescription drug plan, which was
considered in the middle of the night, put the special interests of HMOs
and big drug companies before the interests of seniors and the disabled.
To that end, he is a cosponsor of the Medicare Informed Choice Act of
2005 (H.R. 3861). This legislation would provide extended and additional
protections to Medicare beneficiaries who enroll for the new Medicare
prescription drug benefit during 2006. He is also a co-sponsor of the
Medicare Drugs for Seniors (MEDS) Act of 2006 (H.R. 4697), which has been
filed to simplify the program and allow Medicare to negotiate on behalf of all
seniors for lower drug prices and thus lower costs.
Social Security
Social Security privatization has been defeated
at least for the time being, but many Americans feel they are unable to retire
because they can't afford basic life necessities in this economy. Congressman
Tierney also believes that we must strengthen Social Security and work toward a
bi-partisan solution that would preserve the long-term viability of this
important program.
