Anonymous
Anonymous asked in Society & CultureCultures & GroupsSenior Citizens · 2 months ago

Is Social Security getting a little bit of a boost from all the elderly covid deaths?

14 Answers

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  • Anonymous
    1 month ago

    all I got was 11 dollars more from social security and guess what? medicare went up again. give you a raise and take it back

  • 1 month ago

    No.  The Social Security money was spent as soon as we paid it in during our working years.  We are now living on what younger workers are paying in, and if there is any left over, the government spends it on something else.  

  • Anonymous
    1 month ago

    It could be but not all elderies are dying it is younger folks too.

    Just think about it, the more ppl that dies the less you will get when you collect.

  • Sam
    Lv 7
    1 month ago

    With that and what Mexico has paid for Trumps wall, you might be able to buy a latte at Starbucks. 

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  • 2 months ago

    Sick demented questions by a 20 year old.

  • Anonymous
    2 months ago

    It's a strange way of looking at things but the answer could well be 'yes'.  Benefits, pensions, free this and that would all no longer be required by those people and all those things have been costing a lot of money.  I'm one of those elderly people and really do not want to risk getting this awful disease so am protecting myself as much as is humanly possibly.  We'll all die one day but covid is not the way any of us wish to go.

  • 2 months ago

    Unfortunately, yes. Like Judith said; we also lost a lot of younger workers that we depended on to keep the system going. But we have a reserve since President Reagan up the deducts from paycheck and got around 3 trillion surplus for S.S. and it kicked in a few years ago to take up the slack. But even that will run out in 15 to 20 years if congress does nothing between now and then.

  • Anonymous
    2 months ago

    Once the vaccines start expect the deaths to skyrocket.

  • kswck2
    Lv 7
    2 months ago

    Not in any significant way. 

  • Anonymous
    2 months ago

    It's hard to say because of the cost of healthcare being so high. 

    Remember, Medicare is Title XVIII of the Social Security Act. So if Title II trust funds see any savings from Social Security beneficiaries dying sooner than they would have because of COVID-19, that is likely more than offset by hundreds of thousands of dollars of additional Medicare costs, which admittedly draws from Title XVIII trust funds instead of Title I trust funds, but that's really just a bit of robbing Peter to pay Paul because if one runs out, the other set it bail it out. So if I had my guess, I think that paying $1,000 a month for another 5 or even 10 years in monthly Social Security benefits might have been cheaper than Medicare paying 100% of their hospital bills resulting from them contracting COVID-19. I only say "might" because you also have to try and figure out what they would've used in Medicare also had they survived, which becomes impossible to predict because we don't yet know the long-term health effects of COVID-19 for elderly patients who have contracted it and survived. 

    While the average hospital bills of younger people hospitalized with COVID-19 has been around $45,000, for middle-aged people up to the age of 60 has been $73,000, for the elderly, those old enough to be on Social Security retirement, that cost skyrockets to $189,000 because hospital stays become significantly longer, intensive care becomes far more common, and having to induce a comma and put on a ventilator becomes far more likely.   

    say a 70-year-old patient gets COVID-19 and dies with a $189,000 hospital bill, but had he lived, he'd have lived to 80 (something we can't actually predict with current data about COVID-19), and say his Social Security benefit was $1,000 a month. Social Security has saved $120,000, but then you don't know what he would've incurred in other Medicare expenses over those 10 years, especially as a survivor of COVID-19. It could be higher than $69,000, or maybe not. 

    So it's hard to say if Social Security is actually better off or not. That, I suppose, is for the best, given how the question implies a quite ghoulish proposition. At best, it dances on the graves of the dead, people's loved ones. At worst, it advocates letting people die when they have years of life left in them, maybe even a decade, just so America can save a few bucks. That's a proposition we might expect a big corporation to take up, and the government would prosecute the living hell out of them for doing so on behalf of The People of the United States, the case literally being named The People of the United States vs. XYZ Corporation. That's not a proposition we expect We the People of these United States' government to take up, the government whose purpose is to protect and serve Americans, not sacrifice some Americans on the alter of other Americans' greed.

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