Results for "medicare"

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2019 Medicare premiums announced

October 12, 2018

One day after the Social Security Administration announced that monthly benefits would increase by 2.8% next year, retirees got more good news. Medicare Part B premiums, which pay for outpatient services and doctor fees, will increase by only...

Social Security COLA for 2019 will be 2.8 percent

October 11, 2018

The Social Security Administration announced Thursday that 63 million beneficiaries, including retirees, disabled workers and their eligible dependents and surviving family members, will receive a 2.8% increase in benefits next year, the largest...

Mary Beth Franklin: Slowing drug costs temper health care inflation

October 3, 2018

The latest projection of retiree health care cost trends is a good news-bad news story that can arm financial advisers with appropriate inflation estimates to crank into their retirement income plans. In a positive development, overall annual...

An adviser's guide to Medicare open enrollment

September 28, 2018

If you are younger than 65, you probably wonder what all the fuss is about as you're bombarded with television ads for Medicare Advantage and prescription drug plans each fall. As a financial adviser, you should view the annual Medicare open...

Wages can boost Social Security taxes, Medicare premiums

August 7, 2018

My recent column on how income from a job can temporarily reduce or even eliminate Social Security benefits claimed before full retirement age prompted some interesting questions from readers. Those questions allow me to clarify how earnings...

Social Security benefits lost 34% of their buying power since 2000

June 21, 2018

Social Security benefits have lost more than one-third of their buying power since 2000, according to a new study released Thursday by The Senior Citizens League, a nonpartisan advocacy group. "This is the biggest loss of buying power recorded...

2019 Social Security cost-of-living adjustment could top 3 percent

June 4, 2018

The annual Social Security cost-of-living adjustment for 2019 could top 3% in 2019, which would be the largest increase in seven years, according to a new estimate released by The Senior Citizens League, a nonpartisan advocacy group representing...

How to take the Medi-scare out of retiree healthcare costs

October 23, 2017

I don't think it's a coincidence that Halloween and Medicare open enrollment season occur at about the same time each year. Although some people like to celebrate Halloween by dressing up as ghosts and zombies, for seniors, no costumes are needed...

Countdown to retirement

May 3, 2018

I celebrated a major milestone with a group of friends recently. We met as newly minted teenagers in 1968 when we were freshmen in high school. Today, with most of us on the cusp of retirement, we took a trip to Charleston to commemorate 50...

How to appeal higher Medicare premiums

September 6, 2017

It's time to prepare higher-income clients for a nasty surprise that awaits some of them this fall. Notices of monthly surcharges involving both Medicare Part B and Part D premiums in 2018 will be sent to affected Medicare enrollees in October....

Courses available to become a Medicare pro

April 12, 2017

Like it or not, clients near retirement often have burning questions about when to enroll in Medicare, particularly if they are still working. If they are enrolled in Medicare already, they may have questions about their premiums. Wouldn't it...

Medicare decisions get personal

January 13, 2017

This is my latest dispatch from the retirement front, an occasional series of articles where I chronicle my personal retirement decisions that I hope can offer some insights for advisers working with retired and soon-to-be-retired clients. This...

What Medicare changes will mean for clients in 2017

December 14, 2016

Recently, I wrote about the estimated 22% escalation in Medicare Part B premiums and Parts B and D high-income surcharges. Contrary to what the Medicare Trustees projected, the Centers for Medicare and Medicaid Services (CMS) approved a 10%...

How to optimize Medicare for those who have served in the military

June 7, 2016

In honor of those who have served in the military, including active duty and veterans, I am focusing this column on Medicare and the military. Whether active duty, retired military or veteran, there are important points of intersection and interaction...

Timing is crucial for Social Security and Medicare

January 29, 2018

Sometimes the most important advice I can give readers is, "Don't do it!" For example, one reader wrote to me recently asking if she should collect benefits on her ex-husband's earnings record now, at age 65, and later switch to her own larger...

How to help clients minimize the sting of 2016 Medicare premium rates

November 13, 2015

The Centers for Medicare & Medicaid Services (CMS) announced a host of new Medicare costs for 2016. Among them were the highly anticipated Medicare Part B 2016 premiums, Income Related Monthly Adjustment Amounts (IRMAA), deductible and $3 monthly...

Hedging against triple whammy of Medicare price hikes

October 18, 2015

The price tag for Medicare is expected to swell dramatically Jan. 1 as the result of several factors. It's expected that: •Medicare Part D premiums will grow 8% on average and by as much as 20% for some of the most popular Medicare prescription...

Last chance for clients to save on drug costs

December 1, 2017

There are only a few shopping days left—and I'm not talking about storming the local mall or clicking your way through Amazon.com to fulfill your loved ones' holiday wish list. I'm referring to something that can save older Americans significant...

Medicare surcharge notices are shocking retirees

December 5, 2017

There's a new Grinch in town and her name is IRMAA. That's shorthand for the Income-Related Monthly Adjustment Amount notices that the Social Security Administration sends at the end of each year to inform Medicare enrollees how much they will...

Medicare premiums and Social Security COLAs: Here's why retirees will pay up in 2018

November 21, 2017

Here's a riddle: How can Medicare premiums remain the same in 2017 and 2018 yet result in a 23% increase for millions of retirees? That's the quandary that many financial advisers will face next year when they try to explain to some retired...

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