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Pennsylvania House of Representatives
09/27/2024 01:14 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20230&chamber=H&cosponId=42742
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2023 - 2024 Regular Session

MEMORANDUM

Posted: May 22, 2024 02:25 PM
From: Representative Aerion Abney
To: All House members
Subject: Exclusion of Savings Bonds being counted towards income
 
I plan to introduce legislation which would exclude the principal and any interest accrued from savings bonds for seniors 65+ when calculating income eligibility for PACE and PACENET prescription drug programs.
PACE and PACENET provide critical assistance with the cost of medications for older adults. These programs have helped millions of Pennsylvanians afford prescription drugs and are funded entirely by the Pennsylvania Lottery.

We have recently seen dramatic increases in the costs of prescription drugs far above the rate of inflation or last year’s Social Security COLA. Individuals who have the foresight to buy savings bonds and are cashing them in should not lose eligibility for the important benefits provided by PACE and PACENET.

I hope you will join me in co-sponsoring this important legislation to help ensure eligibility to these vital programs for our seniors.
 



Introduced as HB2378


Memo Updated: May 22, 2024 02:26 PM