News

Two Social Security Reforms That Seniors Strongly Support.This is one of the many retirement questions for which there is no straightforward answer. Many financial advisors recommend delaying the start of Social Security until you are at least your full retirement age or better yet, to wait until age 70. At your full retirement age, you would be eligible for 100% of the benefit to which you are entitled. However, for every year you delay until age 70, your Social Security benefit will grow 8%. Your benefit at age 70 would be 32 percent higher than you would get at 6That's a return that's very hard to find these days..Republicans as a whole did not object to the renaming provision and they agreed with Democrats that the NDAA was not the place for the social media provision that Trump wants. As a result, both houses of Congress passed the NDAA last week with majorities that are large enough to override Trump's threatened veto..7 crucial questions that TSCL believes must be addressed by the candidates about their plans to change Social Security:.Editor's note: We regret the passing of Representative Elijah E. Cummings, who died October 17, 201He will be remembered for many things, including his stand on cutting high healthcare costs for American families..Another concern about congressional inaction on the debt ceiling is the potential for cuts to programs like Social Security, Medicare, and Medicaid. In recent debates, Social Security benefits have been used as a bargaining chip and have been held hostage to the debt limit increase. Some retirees have felt the sting of unexpected benefit cuts. In 2015, following the passage of the Bipartisan Budget Act, millions of seniors, already eligible for Social Security benefits, learned that an important claiming method called "file and suspend" a particularly important protection for women who tend to have lower benefits than men would no longer be an option to them..Most people don't realize how much money they give up by claiming benefits at age 6For example, consider a woman entitled to a monthly benefit of ,500 at her full retirement age of 6Assuming she lives to age 95 and receives cost-of-living adjustments of about 2.3%, she would receive 8,665 over the course of her retirement. Her final monthly benefit payment would be ,827..Questions To Ask At Your Next Town Hall."To avoid overpaying for prescriptions, and to find the most affordable coverage, the importance of comparing drug plans during one's initial enrollment in Medicare, and during Medicare's annual Fall Open Enrollment period October 15th -December 7th can't be overstated," Johnson says. Most people 65 and over take more than one prescription drug, and to get the best plan, consumers need to compare plans based on all the drugs they actually take. In addition, consumers should compare prices between pharmacies, including mail order, which can also vary.