This week it was announced that Social Security’s cost of living adjustment (COLA) will be only 0.3 in 2017 based on consumer-priced inflation. However, Social Security recipients (especially seniors) will end up with less money for a couple of reasons. First, COLA is based on consumer...
A new scheme has been uncovered that preys on seniors receiving Social Security as they may receive an email that looks like it is from Social Security and the subject line says “Get Protected”. The email refers to a new Congressional Act called S.A.F.E. Act of...
The Congressional Budget Office recently reported that spending on programs such as Medicare and Medicaid, including the additional subsidies resulting from the Affordable Care Act (Obamacare), has resulted in exceeding Social Security spending for the first time in history. A total of $936 billion was...
On January 8, 2016, the “Veterans Care Financial Protection Act of 2016” was introduced allegedly to protect individuals who are eligible for increased pension under laws administered by the Secretary of Veterans Affairs on the basis of need of regular aid and attendance from “dishonest,...
In our October 2015 issue of the Texas Elder Law E-Letter, we mentioned the likely passage of the Bipartisan Budget Act of 2015 (the president did sign the bill on November 2) whereby Medicare Part B premiums would be much lower than the astronomical amounts...
The President has signed the “Bipartisan Budget Act of 2015” on November 2 , 2015 that otherwise could have resulted in as much as thirty percent of Medicare beneficiaries seeing a fifty two percent increase in their monthly Medicare Part B premiums (which cover doctor’s...
by Rick Foster There is a lot of confusion about Social Security today and the confusion is well deserved. For a married couple there are 81 different combinations on how and when to take benefits and when you add in some of the different strategies, the...
By Richard W. Jackson, CFP®, CRPC, Principal Schlindwein Associates, LLC Having enough resources to maintain one’s lifestyle throughout retirement is a major concern for most retirees. Social Security income can play a vital role in enjoying a comfortable retirement. With this in mind, the following provides a brief history...
