Protecting Medicare and Social Security from insolvency for seniors today and our children tomorrow is a top priority for Congressman Pascrell. Since its creation in 1965, Medicare has dramatically increased insurance coverage, improved access to care, and saved millions of lives.
According to the 2009 Medicare Trustees Report, Medicare's hospital trust fund will be insolvent by 2017. Bill is committed to finding long-term solutions to improve and strengthen Medicare while promoting fiscal responsibility. Rolling back the Bush Administration's efforts to privatize Medicare is a critical first step in extending the program's long term solvency. In 2008, Bill voted to roll back Medicare overpayments to private health insurance plans while eliminating pending cuts to physician payments in 2008 and 2009. Bill is looking forward to further eliminating these payment disparities while ensuring the longevity of the Medicare program.
The solvency of Medicare is not the only threat. The baby boom generation has presented challenges to the nation's ability to finance Social Security, a program that has allowed generations of retirees to live with independence and dignity. American families work hard and pay into the system - they should be able to count on Social Security when they retire. Continually working for the protection of Social Security, Bill has fought against legislation which threatened its solvency. When the Bush Administration proposed the creation of private accounts within the Social Security system, Bill strongly opposed the privatization of the program. This would have forced deep benefit cuts, increased risk factors, put the nation further into debt, and removed the guarantee that Social Security provides.
Bill also recognizes the changing needs of today's senior population and is supporting new ways to provide the best for our elders. For the majority of seniors who choose not to live in an institutional setting, Bill has been a strong proponent of community-based care that provides a range of services from coordinated health care to social and housing services in order to promote independence and healthy aging in place. An important part of maintaining independence is mobility. After serving on the House Transportation Committee for ten years, Congressman Pascrell is a strong supporter of increasing transportation access and opportunities for seniors.
In order to help seniors through these difficult economic times, Bill recently joined with his colleagues to pass the American Recovery and Reinvestment Act. This recovery measure establishes a new program to upgrade HUD-sponsored low-income housing for the elderly, provides essential funds for senior nutrition services, and increases support for Social Security recipients.