Dual-earning married couples are estimated to face a loss of $18,100 in annual benefits in seven years without the passage of some sort of entitlement reform, according to a new study.
“We estimate that this would be equal to an $18,100 annual benefit cut for a dual-earning couple retiring at the start of 2033 – shortly after trust fund insolvency,” read a Committee for a Responsible Federal Budget (CFRB) analysis released on Thursday.
“At the same time, those retirees might experience reduced access to health care due to an 11 percent cut in Medicare Hospital Insurance payments. The cuts would grow over time as scheduled benefits continue to outpace dedicated revenues,” the analysis also read.
The watchdog group noted that the actual size of the reduction would vary based on the age, marital status, and work history of the retiree.
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Author: Joe Weber
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