medicare
Can Social Security recipients catch a break?
The 2023 Social Security Cost-Of-Living Adjustment (COLA) may be the highest ever received by most Social Security beneficiaries alive today. The projections for 2023 COLA at around 8.7 percent is the biggest since 1981 when beneficiaries received an 11.2 percent…
Learn more about Medicare and determine the type of coverage you’ll need
Medicare is an essential health insurance program serving millions of Americans; it is the second largest program in the federal budget. With all the money spent on Medicare, a total of $917 billion in 2020, Medicare only covers specific services…
What will one’s NET Social Security increase be in 2021?
Medicare and Social Security are so intertwined that a common question we here at The AMAC Foundation get is this: “what will my net Social Security increase be?” That is, people seek to know how their monthly check will increase after…
Medicare and Costs Related to COVID-19
There are quite a few fast-moving parts involved with the evolving coronavirus pandemic, and one of the more frequently asked question areas these days is the handling of costs associated with COVID-19 testing and treatment. To address these questions, the…
MEDPAC Report Calls for Immediate Medicare Tax Increase
MedPAC, the independent nonpartisan legislative branch agency established by the Balanced Budget Act of 1997 to provide the U.S. Congress with analysis and policy advice on the Medicare program, released its March 2020 report to Congress last Friday. Citing a projected depletion of the…
Medicare: Looking at Some of the Basics
Medicare is one of those programs that we all know about, but do we really? It’s always good to step back and take a fresh look at programs like this to be sure we have a good understanding of the…
Healthcare Spending in Retirement: Now Approaching $300,000
Even with Medicare, retirees today can expect to absorb an enormous tab for healthcare during their later years. According to The Motley Fool’s Katie Brockman, this tab can be expected to reach $296,000. Her analysis is based on the results of…
Ask Rusty – About Medicare and Social Security
Dear Rusty: I know that when a person turns 65 he or she must enroll in Medicare. I have been informed that the charge for this would be deducted from the Social Security benefit, if it has been claimed. Otherwise,…
What If I Sign Up for Medicare Before Social Security?
Maurie Backman notes that signing up for Social Security before Medicare matters little as far as the mechanics of it all. Age 62 is currently the most popular age to file for Social Security, even though seniors have between ages 62 and 70…
The Unnoticed Trillion Dollar Budget Gap
In the 1980s critics of overspending pointed to record deficits (averaging $167 billion a year then) and were often met with replies from supply-siders—“Don’t worry about federal deficits. They’re big enough of take care of themselves.” President Reagan even uttered…