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Celebrating Social Security Fairness Act Milestone
The Social Security Administration recently celebrated a key milestone by announcing that we completed sending over 3.1 million payments, totaling $17 billion, to beneficiaries eligible under the Social Security Fairness Act (SSFA), 5 months ahead of schedule. When the SSFA…
The Social Security Board of Trustees’ 2026 COLA estimate
The annual cost-of-living adjustment (COLA) calculation uses the data collected by the Bureau of Labor Statistics from the third quarter of the year, specifically the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) readings from July through…
Do you know what the 2025 Medicare prescription cap?
Two types of Medicare plans cover your prescription drug needs: Stand-alone Medicare Part D plans or Medicare Advantage prescription drug (MAPD) plans. Private insurance companies manage these plans; however, they must adhere to the Medicare guidelines. However, each plan can…
Delaying retirement
As Americans approach retirement age, a growing number of them are delaying retirement, and more than fifty percent are expressing doubts about the future of Social Security. A recent survey found that almost two-thirds of pre-retirees are concerned about outliving…
Prepare to live in retirement for 40 years
Although life expectancy took a downward turn due to the COVID-19 pandemic, it is on the rise again, with the average life expectancy in the U.S. for 2025 at 79.40. With people living longer, your retirement and retirement savings will…
What does Medicare-approved amount mean?
Do you know the difference between what your provider bills Medicare and the amount paid by Medicare? It is called the Medicare-approved amount. The Medicare-approved amount is the total payment that Medicare has agreed to pay a health care provider…
A new proposal to solve Social Security insolvency
In an op-ed published Tuesday for The Washington Post, Sens. Bill Cassidy (R-La.) and Tim Kaine (D-Va.) proposed creating an additional investment fund for the Social Security Trust fund. “We propose creating an additional investment fund — in parallel to…
Should you have an emergency fund in retirement?
We have all heard from financial experts that we need an emergency fund equal to at least six months of our working salary, but what if you are retired? Life happens, things break, people get sick, and you find yourself…
Estimated 2026 Part B premium
Most of us did not read the entire 267 pages of the 2025 Medicare Trustees report. If you did, you would already know that the Trustees are projecting the 2026 Part B premium to be $206.50, an 11.6 percent increase.…
Social Security Achieves Key Milestones in Customer Service Transformation
The Social Security Administration (SSA) announced significant progress in its ongoing efforts to improve customer service while handling record transaction volumes. Some key milestones include the completing over 3.1 million payments to all who were entitled under the Social Security…