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By Adam Andrzejewski for RealClearWire
The Social Safety Administration has made billions in overpayments in recent times, with the whole stability standing at $26.3 billion on the finish of fiscal 12 months 2021, in response to an Inspector Basic’s report. Now, the SSA is sending payments to retirees in an effort to recoup their overpayments.
The report discovered on the finish of fiscal 12 months 2021, the SSA had recovered $4.7 billion in overpayments, however nonetheless had $21.6 billion in unrecovered overpayments.
Whereas the administration maintains that these figures usually are not as dangerous as they sound, given the over $1 trillion in advantages funds it distributes yearly, the inspector common discovered that 73,000 overpayments costing $368 million resulted from a scarcity of efficient controls over benefit-computation accuracy.
Now, the SSA is on a mission to reclaim the overpayments. KFF Well being Information not too long ago reported , “The SSA is making an attempt to reclaim billions of {dollars} from lots of the nation’s poorest and most susceptible — funds it despatched them however now says they by no means ought to have acquired.”
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Rebecca Vallas, a senior fellow on the Century Basis suppose tank, informed KFF, “Overpayments push already struggling beneficiaries even deeper into poverty and hardship, which is immediately counterproductive to the objectives” of safety-net applications.
The SSA can also be not being clear about its overpayments, denying a Freedom of Data Act request for documentation of each overpayment discover it has despatched over a number of years.
These overpayments have price taxpayers billions and wreak havoc on retirees who obtain assortment notices for funds they’ve already spent via no fault of their very own. The SSA must be held accountable and rapidly cease overpaying.
Learn Subsequent: CBO Projects Social Security Funds to be Exhausted by 2033 Without Changes
The #WasteOfTheDay is dropped at you by the forensic auditors at OpenTheBooks.com
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