In a world where the price of everything is going up, Medicare recipients get a price cut beginning January 1, 2023. The Centers for Medicare and Medicaid Services (CMS) just announced that the monthly premium for Medicare Part B, which covers doctor visits, diagnostic tests, and other outpatient services,...
Not long ago, my brother-in-law told his doctor that one of his medicines didn’t seem to be working as well as it had in the past. The doctor prescribed something new. The old medication cost about $20. The new prescription was $232. My brother-in-law had to pay the entire...
As expected, the Social Security Administration has announced that the 2023 Cost of Living Adjustment (COLA) will be the largest COLA in 42 years, brought on by rampant inflation not seen in more than four decades.   Social Security benefits increase automatically if the Consumer Price Index (CPI-W) which measures price...
Alhambra's Bob Williams highlights pitfalls to watch out for when signing up for Social Security.
I remember years ago at a previous employer, several of us left for new jobs within a few weeks of each other. On a whiteboard, we drew a picture of a sinking ship in the ocean and a rat swimming to an island in the distance. Every time someone...
Not long ago I told you about a new trend among recent retirees; they are un-retiring. According to the Bureau of Labor Statistics, the number of retirees in the U.S. jumped from 28.3 million in February 2020 to 31.6 million in October 2021. But record-high inflation changed the hopes and...
Worried about saving enough for retirement? You can put away more next year. The IRS has just announced the new retirement plan contribution limits for 2023.   The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan increases to $22,500, up...
Well, add one more item to the long list of inflation victims. Joining food and gas and about everything else in life is—retirement savings. A high percentage of Americans say staggering inflation has forced them to reduce or stop saving for retirement, and millennials lead the pack.   The information is...
Does this sound familiar?   “Hi, I’m (Joe Namath, Jimmie Walker, George Foreman, William Shatner—pick your favorite celebrity.) Check your eligibility for a zero premium Medicare Advantage plan that includes rides to medical appointments, home-delivered meals, and money added back to your social security check every single month, plus extra benefits...
Not long ago, I wrote about those ubiquitous Part C Medicare Advantage TV ads that show up faster than a telemarketer can dial the phone. Well, the federal government has gotten so many complaints about MA ads that the rules governing them change beginning January 1, 2023. The Senate Finance...