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Medicare Advantage saves money
Medicare recipients who migrate from traditional Medicare to the Medicare Advantage program have saved the federal government $144 billion over the last decade, according to the latest study by Elevance. They found: “What happens in the MA system indirectly affects…
Social Security is Translating More Materials in Native Languages
Social Security will now translate, print, and distribute materials in appropriate Social Security offices in Yup’ik and Diné, 2 Native languages. Offices nationwide display posters with the message, “Share Your Race and Ethnicity & Help Us Improve Service and Access”.…
Do you know about these changes?
The Social Security program changes every year, and 2025 will be no different. Since Social Security benefits are the largest source of income for many seniors, it is important to be aware of these changes. Trevor Jennewine reports on the…
Is a Medicare Advantage plan right for you?
It is the time of the year again when all those Medicare Advantage plans advertise how wonderful they are and give you all sorts of additional benefits, but are they right for you? During Medicare’s Open Enrollment season, which will…
How much savings should you have
What is your savings balance? The average middle-class American is $13,000, compared to the $128,000 in median savings of Americans with a net worth in the top 10th percentile. However, your personal goals should determine the savings you should have…
Is COLA keeping up with inflation?
Social Security recipients will receive a 2.5 percent cost-of-living adjustment (COLA) in January 2025. However, Kevin Thomson, CEO of 9i Capital Group, said: “The COLA increase is not substantial enough to outpace the growing costs faced by Social Security beneficiaries.”…
Undermining the nation’s retirement readiness
Could a government-run retirement program to increase coverage do more harm than good to the nation’s retirement security? The Retirement Savings for Americans Act (RSAA) aims to expand retirement coverage for workers by creating a federal retirement plan for those…
A third of retirees are overspending
The 2024 study by the Employee Benefits Research Institute found that 31 percent of retirees were guilty of overspending in retirement. This figure is up from the first study conducted in 2020 which 17 percent of retirees said their spending…
Three key moves to make in 2025
Even though Social Security benefits only replace 33 percent to 55 percent of earnings for the average worker, Social Security is the largest source of income for most beneficiaries. Without Social Security benefits, about 4 in 10 adults 65 and…
How you can save more money in 2025
New year, new rules for retirement savers. In 2025, 401(k) savers can save $23,500, and those 60 to 63 can save an additional $11,250 for a total of $34,750. “This can be a great way for people to boost their…