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> means you can stop paying $1000+/month to someone who is already a millionaire, that's still a savings even if it adds $20 in overhead.

Only if these hypothetical millionaires you are stopping make up more than 1/50 of the people you are means-testing. You are not only paying for those who fail the means-test, but for all those who are passing it.

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> Only if these hypothetical millionaires you are stopping make up more than 1/50 of the people you are means-testing.

Then why don't we use the non-hypothetical numbers? More than 10% of retirees are millionaires and the $1000+ in payments is actually $2000+ on average and even more for the people who made enough money to be millionaires.

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