44.5% of U.S. Social Security Claimants Overpaid

44.5 of U.S. Social Security Claimants Overpaid

The Social Security Administration (SSA) Inspector General (IG) published a report on June 4, stating that a “review of 1,532 beneficiaries in current pay status as of October 2003…. found that over a 10-year period (from October 2003 through February 2014), SSA assessed overpayments for 44.5 percent of sampled beneficiaries.” That amounts to $2.9 million for the 1,532. Furthermore, the report goes on to state that 4 million beneficiaries in “current payment status” during that period were overpaid a colossal $16.8 billion in total. It is believed only $8.1 billion has so far been recovered, with a percentage simply written off.

The SSA further missed collecting one particular payment as the “beneficiary” in question collected disability payments on his father’s Social Security account, while continuing to work. Afterwards, he continued to work and hid this from the SSA. Only after the IG began reviewing SSA records did the matter come to light. The “beneficiary” was sentenced to 4 months of home detention, 3 years probation and forced to repay $17,763 of the money he had illegally received as benefits while working.

How much more financial mismanagement can this government demonstrate prior to the day Obama moves out of the White House? If you are concerned about the true destiny of your tax-dollar, please Like & Share this post.

Let's connect

and please share facebook-share twitter-share linkedin-share googleplus-share