Congress Takes Strong Action to Address Social Security Clawbacks

The Senate Finance Committee has unveiled plans to step up oversight of Social Security’s overpayment problem. They are aiming to meet with the agency once a month until the issue is resolved, according to Finance Committee Chair Ron Wyden (D-Ore.). In reference to ongoing reports by KFF Health News and Cox Media Group on billions of dollars in overpayments, Wyden commented that “the problem hadn’t been fixed.” He raised concerns about the impact on vulnerable individuals facing substantial overpayments and emphasized the urgency of fixing this problem. Congressional support for legislation that would raise asset limits for millions of Social Security recipients for the first time in decades is also growing. Committed to getting this issue resolved, Wyden acknowledged the critical role played by these reports in shedding light on the pressing need for a solution. He further highlighted the significance of addressing the root causes of overpayments and co-sponsored a Senate bill to tackle the issue. The bill, led by Sens. Sherrod Brown (D-Ohio) and Bill Cassidy (R-La.), seeks to raise asset limits to $10,000 and $20,000 for individuals and couples, respectively. Access the full story here
Read More rnrn