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Entitlements:Who’s Earned What?
Social SecurityMedicareMedicaid
Affordable Care ActOlder Americans Act
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2012Elder Rights Conference
The National Committee to Preserve Social Security and
Medicare
Laura FeldmanGrassroots Manager
www.ncpssm.org1800-998-0181
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Fairy Tales
There are two kinds of fairy tales
Those that begin with……..
“Once Upon a Time”
Those that begin with…….
“If elected, I Promise”
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“Entitle”
“To furnish with a right or claim to something.” (American Heritage Dictionary)
(Legally) Access to benefits by right of law
(Psychology) A symptom of narcissism
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Entitlements
Earned Eligible Expected Elective Egocentric
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American’s have debated since 1776 on the Role of Government
How much government is too much? What is the role of government? How many rights should states have? How much power to the President? How many individual rights? Taxation? Regulation? Personal freedom?
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Social Security
An EARNED benefit
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Social Security Act of 1935 “It shall be the duty of the Secretary
of the Treasury to invest such portions of the amounts credited to the account as is not, in his judgment, required to meet current withdrawals. Such investment shall be made only in interest bearing obligations of the US or in obligations guaranteed as to both principal and interest by the US.”
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Social Security by the Numbers
2015: Benefits exceed income, excluding interest, when Boomers start drawing Social Security benefits
2033: Trust Fund Assets exhausted Approximately 75% of benefits will
continue to be paid if no changes are made to system.
Social Security will not go BROKE
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Social Security Facts 2011
55 million people received benefits 38.5 million retired workers and their
dependents 6.3 million survivors of deceased
workers 8.6 million disabled workers and their
families 158 million paid Social Security payroll
taxes in 2011
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What is Social Security worth?
$450,000 equivalent to a life insurance policy for a family with two children
$450,000 equivalent to a disability insurance policy for a family with two children
69% of Social Security benefits go to retired persons
17% of Social Security benefits go to people with disabilities
14% of Social Security benefits go to survivors
The average Social Security benefit is $14,100 a year, less for women
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Social Security & the Deficit
Social Security has not contributed one dime to our nation’s debt
Annual surpluses in Social Security have been used for years to help mask the true size of the federal debt
Social Security currently has accumulated a surplus of 2.6 trillion dollars
Social Security is not the trouble; it is the target
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Reasons to strengthen Social Security
Social Security is our safety net against poverty for many Americans
Social Security is a guaranteed benefit
Social Security provides disability benefits for all eligible workers
Social Security benefits provide inflation protection
Social Security is an earned benefit
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2011 Payroll Tax “Cut” In 2011 workers will pay 4.2% in to
Social Security instead of 6.2% This will cost the SS Trust Fund $120
billion in lost contributions in 2011 Amount to be paid back with borrowed
funds from general revenue in 2012 Extending the “holiday” would leave
Social Security dependent on general fund revenues rather than workers’ contributions and double Social Security’s 75 year projected shortfall
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Social Security Messages
SS is not responsible for our budget deficit SS is owed 2.6 trillion from the federal
government SS is our money not the governments In this recession, SS has been the only
source of financial security for many American’s.
SS can pay the beneficiaries in full until 2037
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Common Sense Solutions
Increase maximum amount of earning subject to FICA to 90% of average wages, SS cap is now $110,800 which is 84% of average wages
Slight increase in payroll tax Make program universal by covering
newly hired state and local employees
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What can you do?
Contact your Representative & Senator Write a letter to the editor with a
personal story Join the National Committee Vote for a candidate who reflects your
interests for economic & health security
NC Legislative hotline 800/998/0180
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Health Care
Who is ENTITLED to health care?
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The Affordable Care Act
passed in March 2010
On March 23, 2010 President Obama signed the Patient Protection and Affordable Care Act. The new law will extend coverage to over 30 million uninsured Americans
Some changes are already taking place and parts of the law will take until 2014 to be fully implemented
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Health Care Goals
To slow the rising cost of health care To end pre-existing condition clauses To end life time caps on health
insurance policies To extend the life of the Medicare
Trust Fund To cover 30 million uninsured To improve benefits and lower cost
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Straight Facts on Health Reform
The law will improve care for all Americans by:
1. Reduce costs for age and gender rating2. End pre-existing condition clauses3. Cover children on their parents policy until
age 264. Ban caps on lifetime coverage5. Ban dropping coverage when sick6. Help small businesses with tax credits
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Better Health Coverage for people ages 50-64
Immediate high risk pool for uninsured
Help employers to pay for early retirees health care
End annual limits on coverage End pre-existing condition clause Better preventive & chronic care
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Women and Health Reform
Up to 4.5 million women will be eligible for coverage through Medicaid
About 11 million women will receive insurance subsidies
Ban gender rating Women will have access to
obstetrical and gynecological care Reduce age rating
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Medicare
An ELIGIBLE benefit
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Medicare
Medicare, like Social Security, is based on a promise that if you pay in during your working years, you EARN the right to guaranteed benefits.
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Medicare and the 2011 Affordable Care Act
Medicare, established in 1965 is the federal health care plan for people 65 years and older and those under 65 with certain diseases or disabilities
In 2011, 48.5 million people were covered by Medicare: 40 million age 65 and older and 8.5 million disabled people
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Medicare and Health Reform
The law will reduce Medicare costs and extend the Medicare Trust Fund by 7 years
1. Slow the rate of payment to providers2. Reduce fraud and abuse3. Reduce payments to Medicare
Advantage plans & increase benefits4. Create a new Medicare Advisory Board
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Medicare Policy Challenges
Contains spending growth Protects the most vulnerable elders Fixes physician payment rates Lowers prescription drug costs Improves value with added benefits
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Original/Private Medicare
Original Medicare plans provide the same coverage in all 50 states.
Parts C & D are “private” Medicare supplements with over a thousand different plans across the United States provided through state based insurance companies regulated by Medicare.
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Medicare Maze
Part A=Hospital Care Part B=Outpatient, doctor care A & B, together are original Medicare ----------------------------------------------- Part C=Medicare Advantage or
managed care supplemental Part D=The Prescription Drug Benefit
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Medicare & Health Reform Savings
Reduce Medicare Advantage plans overpayments
Reduce prescription drug costs and close the donut hole by 2020
Reduce Medicare fee-for-service payment rates
Reduce fraud and abuse costs
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Health Care Benefits for Seniors in 2011 &
Beyond
Free medical check up each year Most preventive screenings are free Prescription drug discounts in the
donut hole on brand name and generic drugs
Bonuses for primary care providers Better coordination of care and follow
up after hospitalization
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Medicaid
An ELIGIBLE benefit
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Medicaid
Our nations primary insurance program for high-need individuals, old or poor.
A joint federal and state-run program that provides health care coverage for low income people and those who need long-term services or nursing care.
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The Older Americans Act
An ELIGIBLE benefit
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Medicaid & Long Term Care
50% of all nursing home residents are paid for by Medicaid
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Older Americans Act
The Older Americans Act established the Administration on Aging and the Aging Services Network, including 632 Area Agencies on Aging; 240 Title VI Native American Programs; and over 30,000 service provider organizations.
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Older Americans Act Services
Supportive Services and Senior Center programs
Nutrition Services and Education Disease Prevention and Health Services National Family Caregiver Support Program Elder Rights Protection Grants for Native Americans Community Services Senior Opportunity Act
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TAXES
I EARNED my money the hard way I’m ELIGIBLE for the deductions I
take I EXPECT to keep my hard earned $ I ELECT to not pay for others I am not EGOCENTRIC, I’m good for
the economy
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Final Thoughts on Senior’s Health &
Retirement Security
Health reform is NOT A Government take over of health care
The law is a “process” not an event The Affordable Care Act is an “uniquely
American” solution to provide quality health care for more American’s at a lower cost
Timely and proper implementation will be key to Success or Failure to begin to contain healthcare costs for all Americans
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Social Security’s FutureIs up to all of US
Social Security today has 163 million people paying in to the system
Social Security’s surplus is 2.6 trillion Social Security is now raising the full
retirement age to 67 over 25 years Social Security keeps most seniors
out of poverty and in their own homes
Social Security is an earned benefit
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Where you can find the National Committee
www.ncpssm.org Entitledtoknow.org Facebook.com/NationalCommittee Youtube.com/nationalcommittee
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THANK YOU
For more information, please view the National Committee website or contact me at 1-800-998-0181
[email protected] To speak with your Senator or
Representative, use the NC Legislative Hotline at 1-800-998-0180
3/2012
