In the News
Higher-income Medicare beneficiaries may face smaller premium surcharges in 2023. Here are tips for reducing or avoiding those extra amounts
If you’re a higher-income Medicare beneficiary, you may be paying less in extra premium charges in 2023 than you were this year.
So-called income-related adjustment amounts, or IRMAAs, which are based on your tax return from two years earlier, kick in next year at $97,000 for single tax filers and $194,000 for joint filers (based on their 2020 return), up from $91,000 and $182,000, respectively.
Medicare Part B Premiums Could Be Lower in 2023 – Here’s Why
Seniors in the United States haven’t had much to cheer about this year, with inflation running well ahead of the 2022 Social Security cost-of-living adjustment and spiraling health-care costs cutting even deeper into fixed-income budgets. But there might be some good news on the horizon in the form of lower Medicare Part B premiums for 2023.
Many younger baby boomers may outlive their 401(k) savings, new research finds. Here’s why
Older Americans may have a number of different goals with their retirement savings. But usually, their main goal is the same: to make it last.
Unfortunately, many younger baby boomers and members of subsequent generations who don’t have access to a traditional pension could outlive the funds in their 401(k) accounts, a recent study from the Center for Retirement Research at Boston College found.
Essential Topics You Need to Discuss With Your Aging Parents
It may feel uncomfortable, but don’t wait to talk about these important topics.
Just when you thought the birds and bees conversation was the most awkward chat you’d ever have with your parents, life throws you another uncomfortable set of curveballs.
Medicare enrollees could see changes made to rules for health savings accounts
There’s a renewed push in Congress to let Medicare beneficiaries set aside pretax money for medical expenses.
Called the Health Savings for Seniors Act and introduced this month in the House, the bipartisan bill revives past legislative efforts to let individuals on Medicare contribute to health savings accounts, or HSAs, which they currently cannot do.
Social Security: Study Finds Creating a MySSA Account Before Retirement Is Key to Success
For Americans closing in on retirement age, one of the best moves you can make is to open a MySocialSecurity account online to help you track and estimate benefits. The problem is, not enough people seem to know about it, according to a report from the University of Michigan Retirement and Disability Research Center.
A chance to switch or ditch your Medicare Advantage Plan ends soon. What to know
Sometimes, Medicare beneficiaries enroll in an Advantage Plan that ends up not meeting their needs.
If you’re in that situation this year, you have a few weeks left to do something about it.
What Is the Best Age To Take Social Security?
The age-old debate over what is the best age to take Social Security seems like it will never end.
Part of the reason is that there is no black-and-white answer. Like many financial computations, your own personal situation will determine what the right age for you is, even if it’s different from your friends, family members, or those in the financial press.
Here’s what to know about your 2022 Medicare costs
When the calendar flips to 2022, certain Medicare costs will creep higher. For the program’s 63.6 million beneficiaries – most of whom are 65 or older – annual adjustments can affect premiums, deductibles, and other cost-sharing aspects of Medicare. While each change doesn’t necessarily involve a huge dollar amount, experts say it’s important to consider how any increases will affect your household budget.
10 Key Health Appointments to Schedule Starting in Your 40s and 50s
People have their individual reasons for avoiding the doctor’s office—from packed schedules to a fear of the unknown. But medical experts reiterate that your health is your greatest asset, especially as you age, and that one appointment could prove the difference between life and death.