Posted on 22 September 2011
By Mark Miller
Should affluent seniors pay more for Medicare than everyone else? How about Social Security? Should we cut benefits for wealthy Americans?
Ideas for “means testing” these critical retirement programs are front and center as deficit reduction talks move back into high gear in Washington. Many Republicans are arguing that Social Security benefits should be cut for wealthy Americans — an idea also backed by the bi-partisan Simpson-Bowles deficit report. Meanwhile, President Obama proposed higher Medicare premiums for high-income seniors this week as part of the deficit plan he submitted to the Congressional Super Committee.
But what does means testing really mean, and what does it mean to seniors on Social Security and Medicare? This week’s column at Reuters Money looks at what means testing means for Medicare; next week, I’ll follow up with thoughts on Social Security.