MzDuffleBaglady's Blog

A Republican lawmaker said politicians on Capitol Hill are "not being honest" when they say they won't touch Social Security.

Why It Matters

Sometimes referred to as the "third rail"—an untouchable public policy due to its overwhelming popularity—Social Security is relied on by tens of millions of Americans. An estimated 53 million retirees—roughly 16 percent of the population—were collecting monthly payments at the end of 2024.

President Donald Trump has said on numerous occasions that he has no plans to cut Social Security benefits. But the program is facing a looming insolvency crisis that could see benefits automatically cut in the years to come.

What to Know

Utah Senator John Curtis said politicians are "not being honest" about the future of Social Security in an interview on NBC's Meet the Press on March 23.

"We're not being honest when we look people in the eye and say we're not going to touch it. If we don't touch it, it touches itself," Curtis told moderator Kristen Welker. "You know that, right? That's not being honest with the American people, and I think that's one of the things that makes them not trust us, when we say something that they just know is not true."

U.S. Senator John Curtis arrives for the Senate Republican leadership elections at the U.S. Capitol on November 13, 2024 in Washington, DC. Kevin Dietsch/GETTY© Kevin Dietsch/GETTY

Writing on X, Curtis clarified he was talking about Social Security's looming solvency issues. The program is facing depletion of its Old-Age, Survivors and Disability Insurance (OASDI) program trust funds, which help shore up benefits along with regular taxation on the workforce.

SmartLifestyle TrendsSS Recipients Under $2,384/Mo Now Entitled To 12+ Benefits in March

Ad

If a solution is not found in the coming years, benefits could be cut by 17 percent in 2035, according to a 2024 report from the Social Security Administration's (SSA) Office of the Inspector General.

"Younger Americans deserve an honest conversation," Curtis wrote. "Many don't believe they'll receive anything because the program is heading toward insolvency. The sooner we save Social Security for our children and grandchildren, the less dramatic the changes will need to be."

Trump and Social Security

The president has said on numerous occasions that he will not cut Social Security benefits. In March 2024, he told Breitbart: "I will never do anything that will jeopardize or hurt Social Security or Medicare."

Trump also said in January this year that his administration would "love and cherish" Social Security, Medicare and Medicaid.

"We're not going to do anything with that, unless we can find some abuse or waste," he said. "The people won't be affected. It will only be more effective and better."

What People Are Saying

Curtis said in the NBC interview: "We all need to say, those in retirement and those near retirement, we're not going to touch it, you're safe. But let's have that conversation, because my kids don't think they're going to get it. So why can't we have a conversation with them about moving some of the variables around, and the sooner we do it, the less dramatic it has to be. If we don't do it, we have worse decisions thrust upon us."

Stephen Kates, principal financial analyst for RetireGuide.com, previously told Newsweek: "Americans, on average, depend on Social Security benefits for close to 40 percent of their retirement income. If nothing is done to address shortfalls, the expected 20 percent reduction in benefits will significantly impact many retirees' ability to maintain their lifestyles."

What's Next

Curtis said in the interview he would "introduce a change to Social Security" in the coming months. Newsweek has contacted Curtis' office for comment via email.

Related Articles

Start your unlimited Newsweek trial

• Cost
• Cost-sharing
• Enrollment
• Get Help

Medicare Part D is a federal program that began in 2006. It provides Medicare beneficiaries with access to retail prescription drugs at affordable copays. Prior to 2006, people on Medicare paid mostly out-of-pocket for their medications for over 40 years.

Medicare Part D is coverage for retail prescription drugs that you obtain from a retail pharmacy. This voluntary program allows you to access medications at a more affordable rate. It also provides insurance against catastrophic drug costs.

You do not enroll in Medicare Part D via Social Security. Instead, you will choose a Medicare Part D plan offered by a private insurance company in your state.

Medicare Part D Cost

How much is Medicare Part D?

Medicare Part D costs include several things. First, there is a monthly premium that you will pay for the insurance itself. Then there is cost-sharing that you will pay at the pharmacy for your medications. That cost-sharing may include some deductible spending if your Part D plan has a deductible.

Let’s break those down for you.

Medicare Part D Monthly Premiums

The monthly premiums for Part D drug plans vary depending on the specific plan that you choose. Each insurance company sets its own rates.

In 2025, there are many Medicare Part D plans to choose from in each state – sometimes 20 or more.  Plans range from as low as $7 in some states to over $200+. Every insurance company sets its own formulary (list) of medications that are covered by the plan. Therefore, they can determine what monthly premium they will charge for the plan each year.

The cheapest Part D drug plan in your state is not always the best one for you. It’s important to choose a plan with a formulary that offers the medications you need.  If you just enroll in the cheapest plan without checking the plan’s formulary, you may later learn – after you are locked in – that the plan does not cover one of your medications.

Some people with higher incomes may have to pay more for their Medicare Part D plan. If you earned more than a certain amount filing individually or jointly, then Medicare will also require you to pay extra for your Part D coverage. This is called the Income Monthly Adjusted Amount or IRMAA. You can read more about IRMAA costs on our Medicare cost page.

Medicare Part D Cost-Sharing

When you go to the pharmacy to pick up your prescriptions, you will pay your share of the costs. Some plans have a deductible, and then there are the copays that you pay for the medication itself.

Medicare Part D Deductible

The Center for Medicare and Medicaid Services sets the minimum guidelines for Part D plans each year. Each insurance company offering Part D plans must follow these guidelines. All drug plans have 4 stages, and Medicare sets the threshold for each stage each year.

The first stage is the Medicare Part D deductible. In 2025, this deductible is $590. This means that each insurance company can require up to a $590 deductible from you upfront before your benefits kick in. The insurance company can also charge a lower deductible if it chooses to do so. However, no plan can charge a higher deductible than what Medicare allows for that year.

In general, the drug plans that charge the deductible upfront will have lower monthly premiums and lower drug copays. Some companies waive the deductible, but then you will see that the premiums and copays are usually higher than plans that charge the deductible.

Medicare Part D Copays

Medicare Part D plans usually have 5 tiers for their medications in their formularies. A Tier 1 is usually a preferred generic medication. Tier 2 would be non-preferred generic. Tier 3 would be the preferred brand, and so on. The insurance company will set the copay for each tier. For example, one company might charge a $3 copay for Tier 1 medications while another charges $5. This is why it’s important to review the plan’s formulary to make sure your medications are covered and to know what you can expect to pay for those medications.

Medicare offers a Drug Finder Tool, which can be found at www.medicare.gov. You can use this tool to enter your zip code and medications. The Drug Finder Tool will show you which plans in your state will be the most cost-effective for you.

You must do your annual homework with Part D to ensure the lowest out-of-pocket drug spending for the next year.

Extra Help for Part D Costs

Our federal government offers help with paying for your Part D drug plan expenses if you qualify. This is called the Low-Income Subsidy. Anyone can apply for this at Social Security, but help is awarded based on proving low income and limited resources. You must have an annual income that falls below 150% of the Federal Poverty Level based on your household size.

Beneficiaries who qualify will receive assistance with paying their monthly Part D premiums, their annual Part D deductible, and their copays for retail medications. There are different levels of qualification. The subsidy level generally determines how much assistance you will get with your monthly premiums. Someone qualifying for a full subsidy would have 100% of their Part D premium paid for up to the benchmark allowed by Medicare for that year.

For example, if you get an award notice for a full subsidy, and the benchmark for the year is $34, then the LIS program will pay up to $34/month toward your premiums. Choosing a drug plan with a premium of $34 or less in that scenario would mean you pay nothing for your drug plan. Furthermore, you will pay no deductible if your plan has one. Your copays for medications are greatly reduced. If you think you may qualify, it is worth contacting Social Security for an application.

Medicare Part D Enrollment

Medicare Part D is a voluntary program, but without it, you may pay a lot for medications that you need down the road. If Medicare will be your primary coverage, you should enroll in Part D when you first become eligible at age 65.