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Search resuls for: "Social Security Commission"


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Kate_sept2004 | E+ | Getty ImagesUpdates to definition of public-assistance householdThe agency on Thursday announced a new rule to expand the definition of a public-assistance household. Now, households that receive Supplemental Nutrition Assistance Program, or SNAP, payments and those where not all members receive public assistance will be included. "By simplifying our policies and including an additional program geared towards low-income families, such as the SNAP, we are removing significant barriers to accessing SSI," Social Security Commissioner Martin O'Malley said in a statement. SNAP is the first public income maintenance benefit to be added to the public-assistance household definition since 1980, according to the Social Security Administration. Other rule changes to help beneficiariesThe Social Security Administration is also working to address outdated practices through two other rules that are set to go into effect on Sept. 30.
Persons: Martin O'Malley, Darcy Milburn, Milburn, Brown Organizations: Assistance, SNAP, SSI, Social Security Administration, Social, Social Security, National Disability Institute, SSA
Valerie Macon | Afp | Getty ImagesThe trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected, according to the annual trustees' report released on Monday. The Social Security trustees credited the slightly improved outlook to more people contributing to the program amid a strong economy, low unemployment and higher job and wage growth. "This year's report is a measure of good news for the millions of Americans who depend on Social Security, including the roughly 50% of seniors for whom Social Security is the difference between poverty and living in dignity — any potential benefit reduction event has been pushed off from 2034 to 2035," Social Security Commissioner Martin O'Malley said in a statement. What reports reveal about Social Security, MedicareSocial Security's new 2035 depletion date applies to its combined trust funds. The Medicare Hospital Insurance trust fund — used to fund Part A benefits — saw the biggest improvement in this year's trustees report.
Persons: Valerie Macon, Martin O'Malley, O'Malley, Organizations: Social Security Administration, Afp, Getty, Social Security, Social, Medicare, Insurance Trust, Disability Insurance Trust, Medicare Hospital Insurance, Insurance Trust Fund, Department Locations: Burbank , California
Advocates for a bipartisan commission argue the approach may help smooth out the differences between the parties. But whether a bipartisan commission is the answer to Social Security's funding woes is the subject of fierce debate. Social Security benefit cuts unpopular, poll showszimmytws | iStock | Getty ImagesA new poll from Social Security Works and Data for Progress of 1,191 likely voters highlights one big concern about that approach — that it would require benefit cuts. 'It has to be done in a bipartisan way'Any changes to Social Security will require bipartisan agreement. "You don't want Social Security to become a partisan issue," said Bill Hoagland, senior vice president at the Bipartisan Policy Center.
Persons: Tom Cole, Jake LaTurner, Cole, Danielle Deiseroth, Nancy Altman, Altman, Bill Hoagland, Hoagland Organizations: Istock, Getty, Social Security Commission, Democrats, Social Security, iStock, Progress, actuaries, Greenspan, Center Locations: Kansas
President Joe Biden speaks about protecting Social Security, Medicare, and lowering prescription drug costs, during a visit to OB Johnson Park and Community Center, in Hallandale Beach, Florida, on Nov. 1, 2022. Kevin Lamarque | ReutersSocial Security and the debt ceiling debateThe future of Social Security and Medicare have increasingly come up in the debate around the debt ceiling. Both Biden and House Speaker Kevin McCarthy have vowed to keep changes to Social Security and Medicare off the table. That would include Social Security's pension and disability, Medicare Part A and highway trust funds. Social Security changes require bipartisan support
Kevin McCarthy previously said cuts to Medicare and Social Security are out of debt ceiling negotiations. But some House Republicans are eyeing creating panels to evaluate those programs in a debt limit deal, per Bloomberg. McCarthy and Biden met last week to discuss raising the debt limit, and Biden maintains it should be bipartisan. "If you read our Commitment to America, all we talk about is strengthening Medicare and Social Security. As Bloomberg reported on Monday, though, some House Republicans are still looking at including those programs in debt limit talks.
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