Social Security Reform Act

[AI summary unavailable — showing source text] Social Security Reform Act - Title I: Social Security Programs - Increases supplemental security income payments under the Social Security Act to $2,400 a year for individuals and $3,000 a year for couples. Defines a disabled person, under the Old-Age, Survivors, and Disability Insurance program, as one who can no longer engage in substantial gainful activity in regular work or in any other work which he has engaged with some regularity in the recent past. Eliminates the 12-month period of illness prognosis requirement and reduction of waiting period for disability benefits. Entitles disabled widows and widowers to full benefits without regard to age. Provides an additional drop-out year for each 15 years of coverage, for purposes of establishing the period upon which average monthly wage is calculated. Combines the hospital insurance and supplementary medical insurance programs of Medicare and eliminates the monthly premium payment. Extends Medicare coverage after the third month when disability payments begin. Eliminates the coinsurance requirements of Medicare. Makes available specified out-of-hospital prescription drugs at a fee of $1. Establishes a formulary committee to insur…