seniors
About Increasing Social Security’s Full Retirement Age
With Trust Fund depletion looming on Social Security’s financial horizon, there is no shortage of ideas for resolving the program’s financial woes to avoid a potential across-the-board cut in everyone’s benefit in less than a decade. Included in most discussions…
Medicare Advantage plan Prior Authorizations often delay critical Cancer treatments
Through very aggressive marketing, Medicare Advantage plan enrollments have grown exponentially in recent years, with now over half of all Medicare beneficiaries enrolled in a Medicare Advantage plan. FYI, Medicare Advantage (MA) plans are offered by private insurance companies as…
Is Social Security “Broke Beyond Belief?”
According to a self-described “retirement planning evangelist” the American Social Security program is “broke beyond belief” and may not be able to pay full benefits as soon as 2034. That, of course, is a rather harsh, yet understandable, description of…
When Should You Claim Social Security?
It’s the question our AMAC Foundation Social Security Advisory Service is most frequently asked – “When should I claim my Social Security benefits?” And the underlying hidden inquiry is “how can I maximize my Social Security benefit?” Truth is, there…
Is your Social Security income taxable?
Wondering if your Social Security income is taxable? Or if you have to file a tax return? This article by Maite Knorr-Evans explains several scenarios to help you determine what the answers to those questions are for your situation. Read…
Retirement savings crisis
Is there a retirement savings crisis in America? Yes; according to a recent survey, over three-fourths of Americans agree that there is a retirement savings crisis. Over half of the respondents cited their concerns that they cannot achieve financial security…
You might enjoy a really nice benefit if…
What is the maximum benefit you can collect if you retire this year? If you are turning 70 this year and filing for the first time for Social Security, you could collect a monthly benefit of $4,873. However, not everyone…
The newest COLA estimate
The Bureau of Labor Statistics reported the March 2024 Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.5 percent over the last 12 months. Based on this announcement, the Senior Citizens League has estimated the cost-of-living…
House Ways and Means Committee to Hold Hearing on WEP and GPO
On Tuesday, April 16th, the U.S. House Ways and Means Committee will hold a hearing on bill H.R. 82 – the Social Security Fairness Act. This bill repeals provisions that reduce Social Security benefits for individuals who receive other benefits,…
Medicare rules for Hospice payment affects decisions for those with Dementia
For people with dementia support is needed far before the end of life. Hospice is intended for those who have no more than six months left to live. Since enrolling in Hospice ends the availability of specialist care or hospital…