Most of us are familiar with Social Security. It's a program we all pay into during our working years and collect from in retirement. Those benefits are often crucial in helping retirees stay afloat, especially those without a whole lot of savings. But Social Security is by no means designed to sustain seniors in the absence of outside income, and relying on those benefits too heavily could set you up for financial ruin during retirement.
Some Social Security recipients say they're still waiting for their stimulus checks, even though the Social Security Administration has said many of them should have begun receiving their payments a month ago in mid-April. Some also continue to struggle with getting information from the IRS "Get My Payment" site, leaving them unsure when the checks will arrive.
The Washington Post reported that senior economic officials at the White House are exploring a polarizing proposal by conservative scholars at the right-leaning American Enterprise Institute and Hoover Institution. The scholars, Andrew Biggs (a Forbes contributor) and Joshua Rauh, had published an opinion piece in The Hill outlining their plan, which would provide cash to households, but not in the form of a direct stimulus payment. Instead, the two argue that Congress should offer voluntary loan checks of up to $5,000 - the actual amount is up for debate - in exchange for a delay in receiving their Social Security benefits in retirement by up to three months.
Those waiting for payments will soon see them in their bank accounts and mailboxes.
Did you know that you may be able to receive benefits on your spouse’s record if you have not worked or do not have enough Social Security credits to qualify for your own Social Security benefits?
Some seniors now face added anxiety due to delays obtaining Medicare coverage.
Supplemental Security Income recipients with eligible children need to act by May 5 to receive their economic impact payment this year.
The Medicare board of trustees held steady with its prediction on when the program’s hospital fund will run dry: 2026.
The Internal Revenue Service (IRS) has confirmed that recipients of Supplemental Security Income (SSI) will automatically receive automatic Economic Impact Payments (that's the official name, although most taxpayers refer to them as stimulus checks).
AARP is urging the IRS to change guidelines so Supplemental Security Income (SSI) benefit recipients can receive stimulus payments under the CARES Act.
Millions of seniors get health coverage through Medicare, and the more you know about the program, the better equipped you'll be to make the most of your benefits. Here are a few key rules you should familiarize yourself with.
President Donald Trump said he wouldn’t touch Medicare before pitching a budget plan that would do exactly that, along with steep cuts to Medicaid. Democrats are calling it “savage” and “heartless,” while administration officials are insisting they are only slowing explosive growth in future years and that current Medicare benefits would remain untouched.
The decision came out of the blue. “Your husband isn’t going to get any better, so we can’t continue services,” an occupational therapist told Deloise “Del” Holloway in early November. “Medicare isn’t going to pay for it.”
Private insurers are increasing their plan offerings for Medicare Advantage (MA) in 2020. Nearly 3,150 MA plans, which include expanded coverage options not available under basic Medicare, will be available in local markets to beneficiaries in 2020. That is up 15 percent from 2019, according to a recent assessment by the Kaiser Family Foundation.
From what beneficiaries will be paid to what workers could owe in payroll tax, big changes are on the way for America's top social program.
If you’re covered under Medicare, don’t let complacency prevent you from reviewing your health insurance options and maybe saving some money.
Medicare will now cover blood pressure monitoring devices for all beneficiaries suspected of reporting abnormal blood pressure levels when administered in clinical settings.
We’re doing something a little different this holiday week. Because “Medicare for All” is so much in the news, we’re rerunning an earlier explainer episode.
Hundreds of thousands who enrolled in Medicare after age 65 pay a penalty that continues as long as they live. Sen. Bob Casey Jr. and other lawmakers want seniors to get more warning.
When life throws you a curveball, saving for retirement Opens a New Window. becomes a more challenging goal for Americans.