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Medicare “Open Enrollment” Is On – Time to check your coverage!
The annual Medicare “Open Enrollment” period started on October 15th and will continue until December 7th. This is the period, in the fall of each year, when you can review your current healthcare coverage to ensure it meets your personal…
Your Medicare Costs Are Going Up in 2024
On October 12, the Centers for Medicare & Medicaid Services (CMS) announced what those of us on Medicare will be paying monthly next year, and the news – as expected – wasn’t great. Medicare costs are going up pretty much…
What is the Best Age to Claim Social Security?
Spoiler alert: There is no one “best age” to start your Social Security benefits – each person is unique and their specific personal circumstances are what determines what that person’s optimum claim age is. Another spoiler alert: Age 62 is…
Working & Collecting Social Security? Some Things to Know
2024 is just around the corner, and with it comes changes to the Social Security program, several of which are of particular interest to those who are collecting benefits before their full retirement age (FRA) and are also working. First…
Four Key Moments from the Ways and Means Social Security Subcommittee Hearing on Improper Payments
WASHINGTON – With $16 billion in improper payments over the last five years, beneficiaries living on fixed incomes who rely on Social Security for their livelihood face challenging outcomes where they may receive less than they are owed or are overpaid…
Retirement Planning: Thoughts to Help Avoid the “Financial Vortex”
In a post on BusinessInsider.com, contributor Cork Gaines explains how Goldman Sachs views the absence of effective retirement planning can spawn a “financial vortex” that can create havoc for future retirees. The term “vortex” is frightening to many, since it…
Not Everybody Receives Social Security
Many believe that Social Security is universally available to those reaching retirement age. Not so, says a post by The Motley Fool’s Kailey Hagen in a recent post on their website. She examines three separate examples of three cases in which…
COLA’s Impact on SNAP Benefits…a Bit of a Challenge?
The 3.2% cost-of-living adjustment (COLA) announced for January 2024 is certainly a welcomed boost for Social Security recipients. But as everyone knows, it only allows for catching up on price increases that have already happened, and the process as applied…
The “Average” Social Security Benefit…For What It’s Worth
It’s fairly typical for people to want to see where they stand in relation to those around them, and when it comes to looking at Social Security benefits, that’s probably true. A post today by The Motley Fool’s Maurie Backman…
Thoughts on Avoiding the Tax Bite on Social Security Earnings
It should not come as a surprise to new Social Security beneficiaries, and it’s certainly not news to more than half of the beneficiary population already enduring the pain that comes with seeing as much as 85% of that earned…