Counting on Social Security

The 2024 Social Security Trustee report found if Congress does not act, the combined trust fund reserves will be depleted by 2035. At that time, the income coming into the program will only be able to pay 83 percent of the…

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Retirement benefits of a HSA

Health Savings Accounts (HSAs) were established as part of the Medicare Prescription Drug, Improvement, and Modernization Act, signed into law by President George W. Bush on December 8, 2003, effective January 1, 2004. In the twenty years since the creation…

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The two problems with COLA

The Social Security Administration calculates the COLA by comparing the average of the CPI-W for July, August, and September of the previous year with the average for the same three-month period in the current year. The percentage change is the…

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Social Security’s Insolvency: Is it Time to Self-Insure?

This week’s issue of the 2024 Social Security Trustees Report product with it a mixed message–a slight improvement in the date for total depletion of the program’s financial reserves, along with a reminder that the program remains on a path…

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As the Dust Settles from Monday’s Trustees Report, Here Are Some Important Facts

It’s been an exciting few days since the 2024 Social Security Trustees Report was released, at least for those who follow this topic closely. Report after report has explored the upsides and downsides of the newest projections for the trust…

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“Ask Rusty – Shocked Because Medicare Increase Results in Loss of Social Security Benefits”

Dear Rusty:  My wife and I have taken a Social Security “Cut” — no 3.2% raise for us, due to something called “IRMAA,” based on our income. We actually took, together, a $400 a month cut. As far as I…

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