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What you should know about potential Social Security shortfall
According to the 2026 Social Security Trustees report released earlier this week, the fund is now expected to begin depleting by the fourth quarter of 2032. At that point, the fund would be able to pay 78 percent of scheduled…
Ending Social Security paper checks
The Social Security Administration announced on June 2nd, “to improve efficiency, reduce costs, and enhance security in federal payments, the Department of the Treasury is phasing out paper checks.” According to the agency, as of June 2026, fewer than 1%…
Getting Married Soon and Changing Your Name? Start with Social Security
Wedding season is a time of celebration, new beginnings, and for some, changing your name after marriage. If you decide to change your name after getting married, it’s important to update your Social Security card to match your new legal…
Unusually high rates of prior authorization denials
The Department of Health and Human Services’ inspector general’s latest report found three specific Medicare Advantage plans had the highest denial rate for long-term care requests. “The range of denial rates from 8 percent all the way up to 80…
A comfortable retirement is not all about the money
Experts remind us that to have a comfortable retirement, you need to have saved at least $1 million, but is that all it takes to have a comfortable retirement? Some experts forget that your lifestyle plays an important role in…
The latest estimate of the 2027 COLA
The Social Security COLA is an annual Cost-of-Living Adjustment designed to ensure that benefits keep pace with inflation. The Social Security Administration uses inflation data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The formula…
Medicare Part A trust fund depletion date
Medicare Part A hospitalization trust fund will be depleted in 2033, according to the 2026 Medicare Trustees’ report. However, the Medicare Part A hospitalization insurance program should generate enough ongoing revenue to pay about 89 percent of the promised benefits…
Simple solutions for regaining financial stability
The latest report from the Transamerica Center for Retirement Studies reports that over 50 percent of retirees say they left the workforce sooner than planned. Even if you retired early by choice, there may be consequences that you were not…
Social Security Board of Trustees: Projection for Combined Trust Funds Remains Consistent with Prior Year
The Social Security Board of Trustees yesterday released its annual report on the financial status of the Social Security Trust Funds. The combined reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected…
The results of claiming Social Security early
You can start receiving Social Security retirement benefits as early as age 62, but doing so reduces your monthly payment for life. Although the reduction is permanent, age 62 is still the most popular age to start Social Security benefits.…