News

A new Medicare Advantage plan is available in my area and the premiums are extremely low. It would save me a lot of money this year, so I'm thinking about dropping my Medigap and Part D plan to enroll in the new Medicare Advantage Plan during the fall Open Enrollment period. Can you explain the pros and cons of doing this?.I can't find the remote..This week, the House Budget Committee advanced a budget resolution that would reform the Medicare program, and the Senate Aging Committee met to discuss the trajectory of Alzheimer's disease. In addition, three key bills gained support in Congress..Although Social Security recipients didn't receive an annual cost of living adjustment this year, many are reporting that their costs are rising, and household budgets are getting squeezed, says The Senior Citizens League. Donna C. of New York, recently wrote to TSCL saying, "No inflation? Are you serious? What about the price of electricity, food, drugs, local taxes? All, going up. We can barely survive now, and you say there's no inflation? Who figures this stuff out and who decides?" she asks..Does your anesthesiologist have your correct Medicare number and your health plan or supplement information? Patients often meet the anesthesiologist just minutes before surgery, but it's better to learn ahead of time whether the anesthesiologist who will provide your care accepts Medicare and is in your plan's network. Hopefully your anesthesiologist has the paperwork correct, but before they knock you out the next time, make sure..Totalization with Mexico is highly controversial because of the millions of Mexicans who have illegally worked in the United States without authorization. The agreement raises concerns that millions of such workers and their dependents would become newly eligible for Social Security benefits worsening the long-term solvency of the program. In addition, substantial new costs could trigger benefit cuts and higher taxes for both retirees and workers..Social Security beneficiaries receive a small automatic increase in their Social Security checks most years, intended to help their benefits keep up with rising costs. But since 2000, COLAs increased benefits a total of just 43 percent while typical senior expenses have jumped 86%. When costs climb more rapidly than benefits, retirees must spend down retirement savings more quickly than expected, and those without savings or other retirement income are either going into debt, or going without..Congressional Recess Begins.Quite likely. Age 62 is simple to remember because it's the same for everyone. But figuring out your full retirement age is hard because it differs for every one. It must be looked up online, or you must call the Social Security Administration to confirm it. Only one-out-of three people even know their full retirement age. But your full retirement age, whether it's 66, 66 plus 4 months, or 67, and the amount you can expect at that age, still doesn't get you your maximum benefit! Only half of all retirees even know that waiting until age 70 to claim retirement benefits gets you the maximum amount that you qualify for.