A bill to amend the Social Security Act to increase to $6,000 the amount of outside income which (subject to further increases under the automatic adjustment provisions) is permitted each year without deductions from social security benefits, to provide that income of all types (other than certain payments based on retirement or on illness or injury), shall be included in determining whether an individual's benefits are subject to such deductions, to eliminate the 5-month waiting period which is presently required in order for an individual to be eligible for disability benefits, and to eliminate the requirement that an individual must have been entitled to disability benefits for at least 24 consecutive months in order to qualify for medicare on the basis of disability.

Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to increase to $6,000 the amount of outside income a recipient may earn in one year without a reduction of benefits under such Title.

Amends Title II and the Railroad Retirement Act of 1974 to provide that income of all types, except payments for retirement injury or illness, shall be included in determining whether an individual's benefits are subject to deductions. Eliminates the requirement that an individual must have been entitled to disability benefits for at least 24 consecutive months to qualify for Medicare on the basis of disability.

Eliminates the five-month waiting period presently required for individuals to qualify for disability benefits under the Old-Age, Survivors and Disability Insurance program.