Headlines
Optimism on 2024 COLA dampened by expected increase in Medicare Part B premium
The Senior Citizens League (SCL) regularly monitors how current inflation might translate to a Cost of Living Adjustment (COLA) in the forthcoming year and, for a while now, has been predicting a modest 2.7% bump in Social Security benefits for…
The Corporate Shift to Medicare Advantage for Retirees
“Back in the old days” many large companies, as well as municipal governments, offered retirees healthcare for life, usually through an array of funded options for insurance plans which supplement the benefits available through the nation’s main senior healthcare program…
Four Key Medicare Warnings
Medicare, for all of its grandiosity, should come with four blaring warning labels, according to NerdWallet’s John Rossheim in this article. If you’ve already tried to navigate the transition from employer healthcare to Medicare, then you’ll appreciate this entertaining description…
Disconnect between Optimum and Actual Social Security Claim Ages
The results of a very large survey are in – most people claim Social Security at an age which is far less than optimal for their personal circumstances. Fact is, a large majority of retirees will need to rely on…
Op-ed: Lies caused the Social Security crisis
“Equities for me, but not for thee” is the best quote from this op-ed by Brent Arends. He pens a sort of “what if” Social Security funds had been invested in higher yielding equities over low performing Treasuries since that…
Op-ed: We don’t have 10 years to think about Social Security’s insolvency problem
Brenton Smith, policy adviser for the Heartland Institute and frequent writer on Social Security issues, states, “The passage of time is financial cancer to Social Security.” Smith recaps what a decade or more of both political parties doing nothing has…
Social Security Cuts Coming. Advice is Bulletproof Retirement NOW
The Social Security cuts of 23% across the board coming in 2033 (give or take) is little news to those who follow that news, but it is understandably news to others. Financial experts have advice for those getting ready for…
Enjoy July 4th holiday & a little trivia too
We at Social Security Report are off work today but have some historical trivia here for July 2-4. First, read this letter from John Adams of Massachusetts to his wife Abigail, written July 2nd (yes 2nd), after The Second Continental Congress…
Knowing the Retirement Age Chart is Key
Citing updated data from the Center on Budget and Policy Priorities (CBPP), Sean Williams notes Social Security lifts 21.7 million people out of poverty annually, nearly 15.4 million of which are aged 65+. The CBPP estimates that the poverty rate…
Sobering View of Social Security’s Future
The Congressional Budget Office (CBO) regularly takes measure of Social Security’s financial outlook – as do the Trustees of Social Security – with CBO’s approach usually somewhat more conservative in predicting when Social Security will become unable to pay full…