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A wave of new Social Security benefit claims
With the signing of the Social Security Fairness Act into law on January 5, 2025, the Social Security Administration has, “To date, we have processed approximately 30,000 of these new initial claims and, depending on their age and other factors…
How much does the government spend on health care?
Spending on health programs accounts for a substantial share of federal spending; those programs are targets to achieve overall spending goals in current reconciliation discussions by the current administration. With Medicaid being the main focus of federal spending cuts, the…
Check in on your retirement goals
How often do you check on your retirement savings progress? According to a recent NerdWallet survey, only 23 percent of Americans had, in the prior 12 months, evaluated their progress toward retirement savings goals. Erin El Issa outlines how to…
Workers may not be financially prepared for the future
BlackRock, Inc., a multinational investment company, recently released statistics about how Americans plan for retirement. The statistics show that 33 percent of Americans have no retirement savings, and 69 percent have less than $150,000 saved. Caitlin Cahalan reports that American…
You have to March 31st to change your Medicare Advantage plan
Are you enrolled in a Medicare Advantage plan you’re not sure is right for you? You can make changes to your health and prescription drug coverage during the Medicare Advantage open enrollment period, which started January 1 and runs through…
Not yet old enough for full Social Security
The full retirement age for Social Security was 65 for many years. In 1983, Congress passed a law to gradually raise the age because people are living longer and are generally healthier in older age. Since starting in 2011, we…
Social Security announces changes
Under the newly created Department of Government Efficiency (DOGE), changes are being made at federal government agencies. The purpose of DOGE is to modernize federal technology and software to maximize government efficiency. One agency that has been “organizational realignment” is…
Medicare Part D Spending for 10 Selected Diabetes Drugs
There has been a substantial increase in the use of certain diabetes drugs in recent years. Certain diabetes drugs initially approved by the Food and Drug Administration (FDA) to help control blood sugar levels for individuals with type 2 diabetes…
The benefits of eliminating these taxes vary by income level
Representative Thomas Massie (R-KY) reintroduced the Senior Citizens Tax Elimination Act, H.R. 1040. This bill assists seniors by exempting Social Security benefits from federal taxation. What will this bill mean to Social Security recipients? Kailey Hagen explains how and who…
What to do if you owe taxes
Although Congress and President Trump have pushed to eliminate the federal taxes on Social Security benefits, the tax laws are still on the books. What happens if you owe taxes on your Social Security benefits and cannot pay? Kailey Hagen…