SEARCH
Current Location:
>
> This Story

starstarstarstarstar (1)
Log in or Register to rate this News Story
Forward Printable StoryPrint Send us your Comments

Never Miss a Story

Sign up for email alerts

 

More Industry Headlines

Samsung's tablet ultrasound can diagnose patients en route to hospital The technology can prove crucial when seconds matter

Ultrasound-powered chip monitors diseases and delivers therapies May be able to study nervous system and treat Parkinson's symptoms

Celgene invests in Sequenta's MRD test Test will participate in trials to create blood cancer medicine

AFT calls for improved Ebola hospital protocols Meanwhile, 43 people in Texas are removed from Ebola watch list

Americans with insurance still not going to doctor Will making cost and quality information transparent be the solution?

Mass. health care cost transparency law underperforming Pricing still murky after transparency law introduced

FDA approves Siemens' ultrasound with true volume 3-D TEE probe The system offers real-time blood flow and valve measurements in seconds

Robotic MR-guided needle performs brain surgery through cheek No need to drill through patient's skull

MEDICA's education conference: where innovations merge The four-day conference will discuss relationships between science and medical technology

Barco launches new diagnostic display system The system may provide radiologists with some needed relief

The trust fund
is expected to
run out by 2018.

CBO: Social Security Disability Insurance not sustainable

by Astrid Fiano , DOTmed News Writer
The Social Security Disability Insurance program will exhaust its trust fund by 2018, according to a Congressional Budget Office (CBO) report, largely due to the significant growth of recipients. Between 1970 and 2009, the program increased from 2.7 million to 9.7 million people.

The reasons for the growth in beneficiaries include aging of the population; changes in laws that reversed previous restrictive policies in obtaining benefits; the growth of women in the workplace; and changes in overall health of the population. The last reason is not clearly defined, but may relate to some conditions no longer having the same mortality rate, such as HIV/AIDS. Another factor for the growth seems to be lack of job opportunities due to the current economic crisis.

Story Continues Below Advertisement

SIUI introduces two ULTRACLOUD color Doppler systems - click for more info

The two new models provide premium imaging performance. Apogee 5500 is equipped with new 4D imaging tools which contribute to lifelike images and more reliable diagnosis while Apogee 1000 features lightweight laptop design



The program pays cash benefits to adults under age 66 who have worked in the past but are determined to be currently unable to perform "substantial" work. The CBO says that in 2009, the program paid benefits to nearly 8 million disabled beneficiaries and also two million beneficiaries' spouses and children.

The Disability Insurance Trust Fund is financed mostly through a 1.8 percent payroll tax. However, without action to reduce the program's costs, increase from tax revenue, or transference of other federal funds to the program, the CBO says the Social Security Administration will not have the legal authority to pay full DI benefits beyond 2018.

The CBO does suggest a number of changes that could help in addressing the potential exhaustion of the trust fund. These changes include increasing revenues dedicated to the DI program (payroll or other taxes), or reducing outlays by adjusting the program's rules (i.e., creating a stricter definition of disability, or benefit formula). Other approaches suggested are strengthening incentives for people with disabilities to continue to work through early intervention programs; incentives for employers to offer more support to workers with disabilities beyond regulations of the Americans with Disabilities Act (i.e. special accommodations to a disabled worker); the federal government directly paying a portion of a disabled worker's wages; or allowing people with disabilities to receive partial disability benefits for conditions that preclude full-time employment but allow part-time employment.

The full CBO brief can be accessed here.

Related:


Interested in Medical Industry News? Subscribe to DOTmed's weekly news email and always be informed. Click here, it takes just 30 seconds.
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2014 DOTmed.com, Inc.
ALL RIGHTS RESERVED