The Honorable Lisa Rochester
513 Hart Senate Office Building
Washington, D.C. 20510
The Honorable Ron Wyden
221 Dirksen Senate Office Bldg.
Washington, D.C. 20510
The Honorable Chuck Schumer
322 Hart Senate Office Building
Washington, D.C. 20510
Dear Senators Rochester, Wyden and Schumer:
On behalf of the millions of members and supporters of the National Committee to Preserve Social Security and Medicare, I am writing to endorse the Medicare Cost Cap Act (S. 4886), which proposes to establish a $5,000 out-of-pocket annual cap for traditional Medicare beneficiaries’ hospital and physician services (Parts A and B) beginning in 2028. Members of the National Committee come from all walks of life and every political persuasion. What unites them is their passion for protecting and strengthening Social Security, Medicare, and the other programs that are so vitally important to older Americans.
S. 4886, which is also championed by Senators Merkley, Lujan, Markey, Warren, Reed, Duckworth, Welch, Booker, Gillibrand, Padilla, Van Hollen, and Murray, would substantially help seniors by reducing skyrocketing Medigap premiums, and by protecting millions of seniors who rely primarily on their Social Security benefits for income.
Similar to the $2,100 cap on prescription drug costs implemented by the Inflation Reduction Act, the Medicare Cost Cap Act would also simplify the Medicare Savings Program (MSP) by eliminating asset tests and raising income limited to 200 percent of the federal poverty level ($31,300 for an individual in 2026), as well as aligning eligibility criteria across other Medicare cost-sharing programs.
The National Committee endorses this excellent legislation, and we look forward to working with you to move the bill forward into federal law.
Sincerely,
Max Richtman
President and CEO