Health Bringing Health Care Prices To LightDoesn't Social Security pay money to many people who are not really paying into it? - L.V..During our slow, arduous economic recovery that followed the financial crisis and recession of 2008 and 2009, many government programs, Social Security in particular, were stretched to the limit. A number that made headlines last year was the Social Security Trustees' estimate that the Social Security trust funds would run a billion cash deficit in 20Most of the time when the Social Security trust fund is referred to, we mean two trust funds - the old-age and survivor's insurance trust fund, that pays retirement and widows benefits, and the disability insurance trust fund..Out-of-network emergency services, which would include services furnished after a patient is stabilized unless notice and consent criteria are met. … Continued
Nancy OchiengNet Investment Income Tax, Federal Register, accessed on June 6, 2009..TSCL Supports New Legislation.With regard to your specific concerns on Social Security COLAs, as you are fully aware, after a person becomes entitled to receive Social Security benefits, his or her monthly benefit was designed to increase annually to maintain purchasing power over time. The amount of the COLA is based on inflation as measured by the Consumer Price Index. If the CPI rises, Social Security benefits for the next year increase proportionately. If the CPI falls, Social Security benefits stay the same. Like you, I too have long been critical of this formula that measures the level of inflation in our economy because older Americans have different needs than the "typical" American. In addition, the current CPI fails to adequately reflect the fact that seniors rely more on medical goods and services, which have a much higher inflation rate. … Continued
