Political Quotes

“My amendment would exempt rules that reduce the cost of health care for Americans over the age of 65 from the unnecessary requirements of this legislation. Mr. Chair, our country's seniors face growing healthcare costs, and any delays in rules that could reduce those costs would be a terrible burden to place on America's seniors. According to the latest retiree healthcare cost estimates from Fidelity Benefits Consulting, a 65-year-old couple retiring this year will need an average of $260,000 in today's dollars to cover medical expenses throughout their retirement. That applies only to retirees with traditional Medicare insurance coverage and does not include costs associated with nursing home care. Fidelity estimates that a 65-year-old couple would need an additional $130,000 to ensure against long-term care expenses. That is because the median annual cost for the base rent at an assisted living community is about $41,000 per year. The average annual cost for skilled nursing is about $71,000 per year. Because much long-term care is provided by unpaid family caregivers or is covered by Medicaid, the average senior's lifetime out-of-pocket long-term care expenses are about $50,000. The legislation before us would open up the rulemaking process to lengthy delay tactics, allowing companies or entities opposed to certain rules to take advantage of the court system to stymie final rulemaking for years.…”