seniors
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…
Social Security benefits and what may happen in the worst-case scenario
You hear people talking about how Social Security will not be there for them when they retire, even when waiting in line for a table in a restaurant. It is good that people are talking about and aware of the…
Don’t let these misunderstandings trip you up
Roughly half of the Social Security recipients receive at least 50 percent of total family income from Social Security, and about one-quarter of the seniors receive at least 90 percent from Social Security. Since Social Security plays an important role…
COLA increase might not be enough
The 3.2 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 66 million Social Security beneficiaries in January 2024. However, you may not be as much as you think it will be due to Medicare Part B…
Medicare marketing complaints increase
Medicare’s open enrollment season is upon us, with the barrage of television commercials, tons of junk mail, and other forms of social media marketing all persuading us to why we should join their Medicare Advantage health plan. However, Medicare Advantage…