Category: Financial and taxes in retirement
June 17, 2025 -- Many Americans are stumped when it comes to understanding important financial and retirement issues. Asked questions related to Social Security benefits, Medicare coverage, employment-based retirement savings, most respondents in a recent study bombed. On average, they only answered two of the six questions on these issues correctly.
We're including the quiz below so you can see how you would do!
The bad news comes in a new report from the TIAA Institute and the Global Financial Literacy Excellence Center at the George Washington University School of Business. There were six questions in the 2025 survey used to gauge basic retirement fluency. Those included knowledge promoting financial well-being in retirement. Each question covered a distinct subject: Social Security benefits, Medicare coverage of healthcare expenses, employment-based retirement savings, ensuring lifetime income, likelihood of needing long-term care at older ages, and life expectancy in retirement.
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Published on June 16, 2025
Comments 1
Category: Medicare
October 24, 2024 — If you think you might have a hearing problem (or more likely, if a family member says you do), you should get your hearing tested. Now that some models are available over the counter, hearing aids are becoming more affordable. One easy way to test your hearing and get an inexpensive hearing device is coming later this month from Apple. The AirPods 2 will provide an over-the-counter hearing aid for individuals with mild to moderate hearing loss, once a free software update slated for October 28 is installed.
The AirPods 2 are among the latest versions of Apple's popular earbuds. Not only do they work great (your editor loves his) for listening to books, music, podcasts, phone calls, etc., but later this month, they will also function as hearing aids.
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Published on October 23, 2024
Comments 2
Category: Medicare
Sept. 25, 2024 -- The annual Medicare Open Enrollment period starts Oct. 15. This is when people on Medicare can review and change their plans without penalty.
When’s the Medicare Open Enrollment Period?
Every year, Medicare’s open enrollment period is October 15 - December 7.
What’s the Medicare Open Enrollment Period?
Medicare health and drug plans can make changes each year—things like cost, coverage, and what providers and pharmacies are in their networks. October 15 to December 7 is when people with Medicare can change their Medicare health plans and prescription drug coverage for the following year to better meet their needs.
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Published on September 25, 2024
Comments 13
Category: Medicare
August 28, 2024 -- People enrolled in Medicare Part D and Medicare Advantage are getting some really good news, and some not so bad news. The biggest changes will go into effect in 2025. They were made possible by the Inflation Reduction Act of 2023, which passed without any Republican votes.
Here is the good news for Medicare recipients:
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Published on August 27, 2024
Comments 3
Category: Medicare
May 8, 2024 -- There is some rare good news for both Social Security and Medicare - their trust funds will run out of money later rather than sooner. The date when the Medicare funds will be exhausted has been pushed out 5 years, to 2036. Social Security got a 1 year reprieve, and its trust fund will now run out of money in 2035. The news comes from the just published annual reports of the funds' Trustees.
The main reason cited for the improvement in the Trust funds is an improved economy and labor market. More people are working and contributing taxes into the programs. Medicare has also made some technical improvements that have reduced expected expenses.
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Published on May 7, 2024
Comments 1
Category: Medicare
The Inflation Reduction Act will save Medicare recipients money
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Published on February 6, 2024
Comments 41
Category: Medicare
November 23, 2023 - Medicare Part D Premiums will rise sharply in 2024 in at least 5 states, according to a report from Health View Services. The rates jump has several causes. One comes as byproduct of President Biden's success in lowering out of pocket costs for prescription drugs under Medicare Part D (the cap will be $2000 in 2025, down from $7000 in 2023). Insurance companies are scrambling to cover the costs that they will experience as a result. Other contributing factors are the cap on insulin prices at $35 per month and free access to vaccines.
Medicare Part D Premiums 2024 to Rise Sharply
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Published on November 23, 2023
Comments 10
Category: Medicare
what is the best medicare plan for you in open enrollment period
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Published on October 25, 2023
Comments 13
Category: Medicare
October 2023 - The Centers for Medicare & Medicaid Services (CMS) has released the 2024 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2024 Medicare Part D income-related monthly adjustment amounts.
Medicare Part B Premiums and Deductibles
Medicare Part B covers physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A.
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Published on October 18, 2023
Comments 0
Category: Medicare
October 5, 2023 -- The Biden administration announced that 10 drugs will negotiate Medicare price to lower prices in the future. Several of them complained of being " forced” to sign on; but all will participate to avoid penalties if they do not agree to negotiate prices.
The White House predicts that the ten drugs selected for negotiation meant $3.4 billion in out-of-pocket costs for an estimated 9 million Medicare enrollees in 2022, and would save the government about $100 billion over a decade. The negotiations were authorized by the Inflation Reduction Act, which passed without any Republican votes.
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Published on October 4, 2023
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