Retirement Security

As millions of Americans approach retirement and their advanced years, it is critical that Congress continue to address the most challenging issues facing retirees and senior citizens.

The combination of rising health care costs and increasing numbers of senior citizens has made Medicare more expensive.  In Washington State, we have a particularly troubling situation because far too many of our hospitals and doctors are no longer participating in Medicare. 

Medicare physicians need predictable and adequate reimbursements to ensure access for our seniors.  Unfortunately, Medicare beneficiaries and physicians in Washington State face many challenges. Physicians in our state are reimbursed at lower rates than in other parts of the country, forcing practitioners to reject Medicare patients.  Congress addressed these unfair practices through the health care reform law by establishing a 15-member Independent Payment Advisory Board, which has significant authority to establish Medicare reimbursement rates while considering regional disparities and quality of care. Furthermore, to address much of Washington’s reimbursement concerns, I authored the MediFAIR Act, which would make Medicare rates fairer for Washington State by adjusting the funding formulas so our Medicare beneficiaries are no longer wrongly punished for the state’s efficient, quality care.

We must also address fraud within the Medicare system. Health care fraud is an issue I take very seriously and strengthening current laws to prevent Medicare fraud is crucial for making our health care system more efficient and less costly.  Medicare fraud is a large drain on our health care system and directs precious health care resources away from patients to line the pockets of criminals.  This is deeply concerning.  I support legislation to limit Medicare fraud in a comprehensive and effective way, including the Strengthening Medicare Anti-Fraud Measures Act of 2010.  It is critical that Congress continue to act to provide the resources to combat fraud and to strengthen current laws to prevent it.

Going forward, older Americans, who saw their retirement savings diminished, must be provided with practical solutions and options.  I am dedicated to policies that restore strength and competitiveness to the economy and create job opportunities for Americans of all ages.  In addition, sustaining existing programs that older Americans rely on, including pensions and social security, must be made a priority.

Social Security is a critical program that must be preserved and protected. It was originally designed to guarantee all retirees in our nation a basic, minimum income, and the need for such a social safety net is just as great today as it was then.  We need to recognize that we face a serious challenge. It is important that we address Social Security’s long-term solvency problem now.  It will be much easier while we have the time and flexibility to consider numerous options rather than waiting until later when our options for reform are limited.

Additionally, I take Congress’s responsibility to foster economic growth by maintaining fiscally sustainable federal budgets very seriously.  I supported the 1997 Balanced Budget Act and cosponsored legislation to enact PAYGO rules into law that resulted in budget surpluses.  The size of our deficit will undoubtedly bring all program spending under scrutiny in the future.  However, I understand that Social Security remains a critical program and I am very aware of the importance that Social Security plays in Americans’ retirement plans.

I strongly support initiatives to encourage individuals to save and create wealth outside the Social Security system to improve retirement security. I have supported increases in IRA and 401 (k) limits. I support making long-term care insurance tax deductible. We should give people the tools to take responsibility for themselves and to have a stake in their retirement security.