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.
 

Statutes/Laws affected:
Printer's No. 3228: P.L.351, No.91