Duty of the Commission

Not later than 1 year after the initial meeting of the Commission, the Commission shall submit to Congress a report on the Old-Age, Survivors, and Disability Insurance program under title II of the Social Security Act and the Medicare program under title XVIII of the Social Security Act, including— (1) the impact of using alternative indexes on beneficiaries and the Trust Funds, including the Consumer Price Index for the Elderly (CPI–E); (2) the impact of using alternative premium formulas for the Medicare program under title XVIII of the Social Security Act on beneficiaries and the Federal Supplementary Medical Insurance Trust Fund, including premium formulas that consider financial hardships and socioeconomic status; (3) program reforms to increase the sustainability of the Old-Age, Survivors, and Disability Insurance program under title II of the Social Security Act and the Medicare program under title XVIII of the Social Security Act; and (4) program reforms to prevent fraud, increase integrity, and reduce improper payments.