Want More Money and Benefits  from Uncle Sam  and Medicare

Marriage is made in heaven but lived on earth. Uncle Sam doesn’t make the latter any easier as you age. Social Security benefits began to be taxed in 1983. According to Kaplan, the taxation system is so bizarre that married couples with the same finances pay higher taxes than unmarried couples. There are two thresholds at which Social Security taxes kick in, with the applicable threshold being less than twice that of the threshold for an unmarried couple.
According to a new Washington University Law Review article, Federal Law punishes older couples who marry or stay married. If you encounter someone and fall in love during your golden years, you might be better off staying unmarried than getting married. Under current federal law, you and your long-term partner might be able to salvage your struggling finances by divorcing after 60 years of marriage.

Reduce Out of Pocket Medicare Expenses with Medigap

Medigap policies are additional insurance policies you can purchase if you have Medicare. These plans are intended to cover some of the costs not covered by Medicare Part A and Medicare Part B. A co-founder of Boomer Benefits, an insurance agency in Fort Worth, Texas, Danielle K. Roberts, says Original Medicare does not cover deductibles, copays, or coinsurance. Medigap policies could potentially save you thousands of dollars on medical expenses.
Medigap insurance is an integral part of health insurance, and it is important to understand what it covers, how it works, and when you should enroll.

A New Legal Proposal Will Harm Medicare Prescription Drugs

Several senators are drafting legislation to fix the prices of Medicare prescription medications as negotiations on their tax and spending bill. As Senators are working on a legislative proposal to have the government fix the prices of Medicare prescription drugs as negotiations on their tax and spending bill continue. Despite some differences from earlier versions, the indisputable result of the 190-page amendment is the same: Reduced patient access to prescription drugs. Many provisions are included …

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Social Security Won’t Go Completely Broke.

Image by shutterstock.com It’s the ideal opportunity for the yearly ritual of understanding and deciphering the Social Security legal administrators’ report. The 2024 report dissects and sums up the most recent actuarial status of the trust funds that help Social Security’s retirement and disability programs and the asset that upholds the Hospital Insurance (HI) part of Medicare. The trustees’ report consistently assesses the future year when the Social Security trust funds will be depleted. To …

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Is it Safe To Say That You Are Setting Yourself Up For Unhealthy Aging?

Image by shutterstock.com Health experts anyplace, remembering those for the Federal government, let us know we want to move more, sit less and eat a solid eating regimen, particularly as we age. However, most grown-ups north of 65 aren’t adhering to these rules. What’s preventing customary people from heeding this guidance? Over a portion of American seniors are not getting the suggested 150 minutes every seven days of oxygen-consuming activity. One hundred fifty minutes can …

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The 1 Retirement Expense You Have to Plan For

It’s not something you can assume will not have any significant bearing on you. Throughout anticipating retirement, you might go over a few enormous costs that could influence your pocket, for example, lodging, expanded local charges and medical care. Notwithstanding these are factors that the vast majority of a spending plan for, there is one cost that seniors will experience quite often, neglect, like extended haul care. Even though you could expect that drawn-out care …

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Employee Benefits: The Surprising Benefits Beyond Retirement You Can’t Afford to Overlook

Inflationary pressures have begun to manifest themselves within the workplace, extending beyond the mere demand for salary increases. Many employees are now turning to their employers for assistance in grappling with the escalating cost of living, resulting in a transformation of the types of benefits both sought after and provided. While conventional retirement plans and health/dental insurance continue to serve as the fundamental pillars of corporate benefits, assisting employees in achieving their long-term financial aspirations, …

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Don’t Drop the Ball: Your Medicare Deadline is Looming

The United States is home to over 335 million people, with approximately 65 million benefiting from Medicare, the national health insurance program. Among this group, about 57 million are senior citizens over 65. For these individuals, the Medicare enrollment period is a critical time, offering a once-a-year opportunity to assess and adjust their Medicare plans. It’s a significant time that allows individuals to tailor their healthcare coverage to fit changing medical needs and potentially reduce …

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Here Are Four Critical Retirement Planning Steps

Retirement, often viewed as the payoff for years of hard work and prudent saving, is envisioned as a period of joy, companionship, and leisure. The recent pandemic has highlighted the importance of financial security for a comfortable retirement. As a result, Americans are prioritizing strengthening their economic positions.  Furthermore, a survey conducted in 2021 by Ameriprise Financial revealed that the global health crisis had propelled individuals to enhance their financial perspectives, with many implementing retirement …

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Maximize Your Financial Potential: Seize Open Enrollment Opportunities

Open enrollment, a period typically associated with health insurance adjustments, offers a broader opportunity to delve into your employee benefits landscape, with a particular focus on those facets that impact your retirement planning. This annual event, often occurring in the fall and spanning two to four weeks, provides employees with a unique window to either initiate or amend their chosen benefits package from their employer. Amidst the myriad of decisions, you’ll need to make during …

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