Results for "medicare"

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Specialize in serving women? You'd better know Social Security strategies

October 24, 2019

Advisers who specialize in working with women need to be knowledgeable about Social Security strategies because women rely more heavily on this source of income than men, according to retirement expert Mary Beth Franklin. "Women tend to live...

Why more seniors are working longer

October 24, 2019

Over the past two decades, the share of older workers increased by about one-third as more women continued to join the workforce and fewer men retired early, according to a new Congressional Budget Office report that examines why more seniors...

Medicare 2020 open enrollment begins Tuesday

October 15, 2019

Medicare open enrollment for health care coverage in 2020 begins Tuesday, Oct. 15. While most of the 60 million Medicare beneficiaries enrolled in the nation's primary health insurance program for retirees and people with disabilities usually...

Social Security COLA for 2020 will be 1.6 percent

October 10, 2019

The Social Security Administration announced Thursday that benefits and the maximum amount of wages subject to payroll taxes will increase by 1.6% in 2020, more than a full percentage point less than the 2.8% cost-of-living adjustment posted...

Trump to outline new vision for Medicare

October 3, 2019

President Donald J. Trump will outline his vision for the future of Medicare this week, contrasting plans with Democrats in a speech promising to strengthen the program for the elderly and disabled. [More: A new twist on Medicare open enrollment]...

A new twist on Medicare open enrollment

September 30, 2019

Many of your retired or soon-to-be retired clients probably think of enrolling in Medicare as a once-in-a-lifetime event that's timed to coincide with their retirement date and Social Security claiming decisions. But such a set-it-and-forget-it...

Medicare IRMAA surcharges to be adjusted for inflation in 2020

September 16, 2019

For the first time in a decade, the income brackets used to determine Medicare premium surcharges for high-income retirees will be indexed to inflation starting Jan. 1. As a result, some retirees may experience a reduction in their Medicare...

When to buy Medigap insurance

August 26, 2019

I have often written about the importance of clients enrolling in Medicare at the right time to ensure that they are not stuck paying delayed enrollment penalties for the rest of their lives. What may be less obvious, but equally important,...

Clients worry about future Social Security cuts

August 12, 2019

A new survey underscores how important Social Security benefits are to older clients and shows many advisory clients fear that their lifestyles could be seriously curtailed if benefits were cut in the future as a result of the program's long-term...

Social Security and Medicare issues get personal

August 6, 2019

From time to time, I write a "dispatch from the retirement front" based on personal insights from living with a retired husband or fielding questions during girlfriend getaways about enrolling in Medicare and claiming Social Security benefits....

Don't be unnerved by health-care cost estimates for retirement

July 22, 2019

Retirees face a variety of risks: bear markets, inflation, uncertain lifespan and declining health and the associated costs. Among these, health and health-care costs are the top concern for the majority of retirees, according to a recent T....

Why healthy clients need to save more for retirement

July 8, 2019

Here's a counterintuitive thought: Healthy clients are likely to have higher medical costs in retirement than their less-healthy counterparts. Why? Because they are likely to live longer than average, and health-care costs tend to increase at...

Educate clients on the reality of Social Security benefits

July 6, 2019

Year after year, despite handwringing from experts, nothing much seems to happen to address the draining of Social Security trust funds. Perhaps no one is worried because the well won't run dry for more than a decade, and much of the public...

Confusion around Medicare enrollment

June 28, 2019

Sifting through my inbox, I've noticed an uptick in questions about when and how to enroll in Medicare. The source of most of the confusion relates to clients who continue to work past age 65. Medicare Part A, which is free to most retirees,...

How to suspend Social Security benefits

June 19, 2019

I often counsel readers about the option of suspending their Social Security benefits as a way to increase their future payouts. One reader had a simple question: How could he do it? "I claimed Social Security at 62 and I will turn 66 in December,"...

Future retirees often overestimate Social Security benefits

May 8, 2019

Chalk it up to wishful thinking, or merely misinformation, but many future retirees overestimate how much they are likely to receive from Social Security, according to an annual survey released Wednesday by the Nationwide Retirement Institute....

Hints about Social Security COLA and Medicare premiums in 2020

May 6, 2019

Buried in the recent Social Security and Medicare Trustees' Report were some hints about next year's projected cost-of-living adjustments for Social Security benefits and likely increases in Medicare premiums for 2020. The fact that the Medicare...

Social Security funding outlook improves slightly

April 22, 2019

The long-term funding outlook for Social Security's retirement and survivor benefit programs has improved slightly, while the timing of the depletion of the disability program's reserves was extended by 20 years, according to the 2019 trustees'...

The cost of putting off enrolling in a Medicare drug plan

April 15, 2019

I heard from a financial adviser in Florida recently who asked if there was anything her clients, a married couple ages 69 and 70, could do to avoid paying a delayed enrollment penalty for their new Medicare Part D prescription drug plan. "They...

Fidelity says retirees can expect to spend $285,000 on health care

April 2, 2019

A 65-year old couple retiring this year can expect to spend $285,000 on health care and medical expenses throughout retirement, according to an annual health care study done by Fidelity. For individuals, the estimate is $150,000 for women and...

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