seniors
Stressed over money topics, try to rethink them
Today’s economic atmosphere is stressful without all the misleading or incomplete information, making it worse for most people. So, what to do about it? Russ Wiles explains how reframing or rethinking the challenges or obstacles in a different light may…
Social Security may not be as reliable as it seems.
According to the data from the Social Security Administration, among Social Security beneficiaries age 65 and older, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. According to…
Will your COLA increase keep up with your healthcare costs?
Social Security beneficiaries will see an increase in their Social Security checks of 3.2 percent in 2024. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers…
Medicare Advantage plans offering food and produce benefits
In the upcoming plan year, 1,475 Medicare Advantage plans will offer food and produce benefits to their low-income enrollees. In the new analysis published by the consulting firm ATI Advisory, this is a two percent increase from five years ago.…
What you need to know about Medicare Advantage plans
Medicare open enrollment –annual election period (AEP)- refers to an enrollment period from October 15th through December 7th, during which Medicare plan enrollees can reevaluate their existing Medicare coverage. If you are 65 or older, you have probably received a…
What do the Medicare Savings Programs cover for low-income Medicare beneficiaries?
The Centers for Medicare and Medicaid Services (CMS) finalized a rule to help low-income Medicare beneficiaries to the Medicare Savings Programs. What is the Medicare Savings Program? Medicare Savings Programs cover premiums and, in most cases, cost sharing for Medicare…
Don’t rush into claiming Social Security at 62
You can start receiving your Social Security retirement benefits as early as age 62; however, if you start receiving benefits early, your benefits are reduced. Yes, you have been paying into the system all these years, and you want to…
The American Academy of Actuaries are urging Congress to act now
The American Academy of Actuaries has issued a new brief urging Congress to act sooner than later to stop the automatic 20 percent cut to individuals already receiving Social Security benefits. They warned if Congress does not come up with…
Medicare Advantage isn’t right for everyone.
Medicare open enrollment – also known as the annual election period (AEP)- refers to an enrollment period from October 15th through December 7th, during which Medicare plan enrollees can reevaluate their existing Medicare coverage. It is also when those pesky…
Things you should be doing right now to maximize your future Social Security benefit
You are entitled to full Social Security benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to the age of 70, your benefit amount will increase by eight percent…