Social Security New Update – $800 One-Time Payment for Social Security, SSDI and Medicare Beneficiaries

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Social Security New Update - $800 One-Time Payment for Social Security, SSDI and Medicare Beneficiaries
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Have an update on that on time. $800 payment for millions of beneficiaries receiving Social Security, retirement, disability, SSDI survivors, and Medicare benefits. All right. So this is actually in reference to millions of beneficiaries, like I said, receiving Social Security, retirement, disability, SSDI survivors, and Medicare benefits. Now, this was actually originally introduced about four or five months ago out of senior Senate Democrats.

They came up with this plan and they wanted to send out all of these millions of beneficiaries, which, by the way, they identified about 63 million beneficiaries that this one-time payment would be going out to while their original plan came out saying that they were going to send out anywhere between $600 and $1,000 as a one-time payment for these 63 million beneficiaries. Well, shortly thereafter, the original announcement came out, they came out and said $1,000 is what it’s going to be. Well, then shortly thereafter, about a week and a half or so later, the President came out and said $800, and that’s where it’s been ever since. So I do want to give you an update on where we currently stand with this one-time $800 payment or thereabout. But that’s what the President identified as.

So we want to make sure that that’s probably what it’s going to be if it even happens. However, I do want to give you the latest details as of where we currently stand on this payment and what’s going on with it, and maybe when you can expect to see it. All right. So let me give you the latest details on this and where we currently stand with everything going on as of right now. So as we’ve been knowing for a very long time now, Congress has been currently working on the build back better agenda.

Right. The original $6 trillion package. It then got whittled down to 3.5, and then it got whittled down to under $2 trillion. But either way, this is the package in which they were going to include this one-time $800 payment into it. Well, as a result of right now, we do know that a few months ago that original bill, the build-back better agenda, pretty much got pushed to the sidelines.

And now over the last couple of months here, they’ve been working on a new portion of this agenda, right. So it’s been called all kinds of different things. The revised bill, the smaller bill, the skinny build back better, all kinds of different names that they’ve been giving this bill. But essentially, they’re trying to narrow this thing down even further to discuss what’s actually going to be in this bill, what is actually necessary right now, and what’s going on with everything. So as of right now, when it comes to this bill, we’re still trying to figure out yes, believe it or not, they’re still trying to figure out what is going to be in this bill.

However, this one-time $800 payment is in reference to the Medicare expansion. So here’s what happened with this next build-back better agenda. Basically, what they wanted to do is expand Medicare benefits within it to include hearing, dental and vision coverage. While as a result of the negotiations, they dropped dental coverage and they temporarily dropped vision coverage, however, hearing coverage stayed in the bill. They’re trying to bring vision back, and it looks like that could be coming back in some aspects of it.

However, when it comes to dental, that is one that is probably not coming back. However, they still remain hopeful. So here’s what they’re trying to do. They want to implement this $800.01 time payment for these 63 million beneficiaries to help you out with your dental procedures and dental coverages going forward, at least for a little while, until you spend the $800. And then that would be basically it.

So what they wanted to do was they wanted to send out this one time $800 prepaid debit card for about the 63 million beneficiaries who would be eligible to receive this. So as of right now, they are still trying to expand Medicare coverage. In fact, we’ve been hearing a lot of talk lately about how these lawmakers are coming out recognizing that they need to expand Medicare coverage, and they’re actually trying to implement Medicare for all. Have been hearing that lately. That’s been in the talk a lot lately as well.

Medicare for all is one side of the aspect. And then on the other side of the spectrum, they’re also talking about how they want to expand Medicare for the current beneficiaries, but make it more coverage for many of these beneficiaries. So there’s a lot of different talk right now. There’s a lot of different avenues that they could take this whole discussion down and how they would want to actually expand Medicare. But this is one of the big things that it’s talking about that’s out there right now.

One other thing that they’re talking about as well. And this is getting a lot of news and a lot of attention is how they want to expand Medicare, but yet lower prescription prices. Have you been hearing that as well? Yeah, it’s been out there a lot lately. There’s a lot of lawmakers that are talking about how they can expand Medicare and make sure that they are lowering prescription prices.

So at the end of the day, realistically, it’s probably a good thing for a lot of people. But at the same time, we need to see some action rather than just all the talk all the time of all these things that they want to do. It’s great. Many of the things that they want to do are nice, but at the same time, we need to start seeing some of these things actually happening rather than just a bunch of talk all the time. Right.

I think all of us can agree it’s time to get some action rather than just talking all the time about everything that they want to do. Trust me, we can all talk about all the things that we want to do as well. Right. But realistically, at the end of the day, all that really counts is action. But anyway, I think all of us recognize that in the community, maybe Congress needs to get a little bit of a refresher on how the system works.

Right. Action is what is keeping key. So anyway, as far as this $800 prepaid card goes, I want to let you know, as of right now, they are still working on trying to expand Medicare services, but at the same time, they’re also trying to Whittle down this bill to about $1 trillion. The skinny portion of the build back better agenda. So this is still out there right now.

It’s still a potential thing. But I just want you to recognize as of right now, this could be on the chopping block for many of the different things that are in the build-back butter agenda. Many of these provisions, many of these aspects, many of the different elements of the build back butter agenda are basically up for grabs right now to be chopped out of the bill except for climate. That is one thing that they are not willing to negotiate on. There’s $550,000,000,000 in there for climate funding, and that’s essentially half of the new skinny portion of the bill.

And they are not willing to negotiate on that, but they’re willing to negotiate on basically everything else. So kind of interesting how that works, but I don’t know, seems kind of weird. But at the same time, when millions of Americans are struggling right now trying to make ends meet, money is not going very far these days. Money is very tight for a lot of people, especially those people living on a fixed income. But this was one of the ways that they wanted to help out by sending out this one time, $800 prepaid debit card.

And again, they originally said it would be used for dental services. But realistically, that’s still kind of a Gray area because here’s the thing. If they send out a prepaid debit card with $800 loaded onto it, how do they know that you’re going to spend it at a dental office? Is there some kind of technology in the car that says this is only redeemable at a dental office? I don’t know.

Again, how do they know that we’re not going out to the grocery store and buying $100 worth of groceries? You know what I mean? I’m just saying. I’m not saying you should do that. I’m not endorsing that at all.

I’m just saying how do they know, right? Again, that’s still kind of a Gray area. We’re still waiting for additional details on that right now. But in regards to this $800 card, just like so many other aspects of the build back butter agenda, the skinny bill, the other portions of this bill and everything that they want to get through with this, this could be one of those things that may be on the chopping block. It’s still up in the air right now, whether it will actually happen or not.

But one more thing I want you to remember, too, as well. This original proposal came out of senior Senate Democrats. Now, the original bill is actually being talked about in the Senate right now. The skinny portion of the bill, as well as in the House, they’re working on different things as well. So it’s almost like we’re getting two different portions of the skinny version of this bill kind of being worked out.

So here’s what I would anticipate happening. They’ll probably come together, the House and the Senate. They’ll probably come together with their own versions of the skinny portion of the bill. Back bedroom, kind of merge them together and figure out, okay, here’s what we’ve got from the Senate. Here’s what we’ve got from the House.

Here’s what we can all agree on. Let’s make it all part of the bill. Now. Let’s come back and figure out what came out of the Senate, what came out of the House, and kind of figure out, okay, are we willing to make concessions here? Are we willing to work together on these different provisions?

I kind of anticipate something like that would happen since they’re both independently working on their own versions of this bill. But the Senate is where all of this action is going to take place, realistically, because the Senate is very tight when it comes to the votes, right? 50 50 is where they need to make it happen. So in the House of Representatives, they do have a little bit more flexibility there because they have a little bit more votes there. They have a few more seats. It makes it a little bit easier there.

But when it comes to the Senate, it is very tight being an even 50 50 split. So anyway, just remember, the Senate is where it’s going to be tight, but rather the Senate is where this original proposal came out of to give the $800 prepaid debit card. So anyway, as I do get more details, of course, I will keep you posted. I wanted to come back and give you the latest update on this. Let you know where we currently stand with these $800 prepaid cards and what’s going on with them.

But just like everything right now, they are still up in the air, but they are still trying to work on expanding Medicare as well as lowering prescription prices. So when it comes to all that, considering there’s a lot of talk about Medicare right now and the 63 million beneficiaries, it still looks a little bit promising that these $800 cards could actually be a thing but let’s be real. We all recognize right now what we really need is a stimulus check that’s what we really need or realistically what we really need is ongoing monthly payments. Enjoy your day and I will see you again. bye

 

 

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