Rep. Courtney Meets with Seniors to Discuss Social Security, Reduced Health Care Costs
NORWICH, CT – On the heels of the 88th anniversary of the Social Security program and the one-year anniversary since enactment of the Inflation Reduction Act, Rep. Joe Courtney visited Quinebaug Valley Senior Center to discuss how these programs are supporting seniors and lowering costs.
In Connecticut’s Second Congressional District (CT-02), 155,146 residents receive Social Security benefits, including over 120,000 retirees. Unfortunately, if Congress does not act to strengthen benefits, workers who retire after 2034 will receive only 77 percent of their full Social Security benefits. Courtney had a dialogue with members at the senior center about the Social Security 2100 Act, led by Congressman John Larson and co-sponsored by Courtney. It will strengthen Social Security’s finances and the program’s benefits, not cut benefits as some in Congress have proposed. The bill is endorsed by the AFL-CIO, the National Committee to Preserve Social Security and Medicare, the CT Alliance for Retired Americans, and more.
Additionally, since the Inflation Reduction Act’s enactment a year ago, 2,600 people in CT-02 are saving an average of $560 annually because of the law’s cap on insulin prices for seniors on Medicare. 18,000 people in CT-02 are also benefiting from the Inflation Reduction Act’s tax credits that lower health care premiums and help everyday Americans, which is saving the average person $1,840 in premiums this year.
“For 88 years, Social Security has served as our most effective anti-poverty program for seniors, children, and veterans. That’s why I am continuing my work with Congressman Larson to protect and strengthen Social Security benefits through the Social Security 2100 Act,” said Rep. Joe Courtney. “Now, the Inflation Reduction Act is providing essential savings for seniors and many Americans through reduced health care costs, including the $35 per month cap on insulin for seniors on Medicare. Over the next two years, even more health care saving benefits from the Inflation Reduction Act will take effect and help residents across eastern Connecticut afford the health care and prescription drugs they need.”
Over the next two years, Americans will see additional health care saving benefits from the following actions:
- Medicare begins to negotiate prices with drugmakers for the first time in 2024
- Cost-sharing decreased in the catastrophic phase in 2024 and eliminated in 2025
- Out of pocket costs for prescription drugs capped at $2,000 per year beginning in 2025
To learn more about the Inflation Reduction Act, click here.
To learn more about the Social Security 2100 Act, click here.
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