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Insulin Out-of-Pocket Costs in Medicare Part D
(By Juliette Cubanski and Anthony Damico for Kaiser Family Foundation published July 28, 2022) Addressing the cost of insulin continues to be at the forefront of policy discussions around prescription drugs. Legislation has been introduced in Congress that would cap…
Why It’s Important to Report Life Changes to Social Security
(Source – ssa.gov) Did you know that certain life changes can affect your benefits? Sometimes your circumstances may change after you apply for or begin to receive benefits. When that happens, it’s important for you to tell us about these…
Be realistic about Social Security
Social Security provides a foundation workers can build to plan for their retirement. However, Social Security benefits are much more modest than many people realize. Forty-nine percent of Americans didn’t realize what percentage of their income Social Security would replace…
Are you considering tapping your 401(k) plan to reduce your debt?
As the economy worsens, more Americans may consider using their 401(k) or other retirement accounts to reduce their debt. There are three ways people can tap their workplace retirement savings to cover their debt. But is this a wise choice?…
What will the Social Security Expansion Act mean to you?
The Social Security Expansion Act will give current Social Security recipients or will be eligible in 2023 – at least 62 years old – a bonus check of an additional $200 a month. Also, the bill would boost benefits for…
Waiting 12 months could make a huge difference
Among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. So, if you are those individuals who struggled to save during your working life,…
A simple strategy to boost your Social Security benefits
Bigger paychecks today will translate to larger Social Security checks later, but in today’s economy, raises may be little or none to come by. So how do you boost your earnings to increase your Social Security benefits in the future?…
Will you receive the maximum Social Security benefit?
As of June 2022, the average Social Security retirement benefits check is $1,623, according to the Social Security Administration. Of course, that amount can differ depending on the type of recipient. Retirees typically make more than the overall average. The…
Can I still work and collect my Social Security benefits?
Among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. With Social Security playing a major role in many seniors’ lives, it is important…
How having an HSA is a win-win situation
The experts tell us the cost of healthcare as we age will be one, if not the largest, expense in our retirement. The average couple retiring in 2022 will need over $300,000 saved after taxes to cover their healthcare costs.…