Category: Benefits & Retirement
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Social Security’s 2027 raise is now projected near 3.6%, about $70 more a month
Every fall, tens of millions of retirees wait to learn how much bigger their Social Security check will be, and the early forecasts are starting to come in. One closely watched estimate now puts the 2027 cost-of-living adjustment near 3.6 percent, which would add roughly $70 a month to the average retiree’s benefit. It is…
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Humana is dropping Medicare Advantage plans covering 600,000 members, with letters landing in September
If you get your Medicare coverage through a Humana Advantage plan, the mail this fall could carry a decision that reshapes your 2027. Humana has confirmed it will exit Medicare Advantage plans covering roughly 600,000 members next year, and affected households are expected to start receiving notification letters in September. A dropped plan is not…
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Traditional IRA withdrawals now must start at 73, or the IRS charges a penalty
For decades you are told to leave your retirement savings alone and let them grow. At a certain age, the government flips that advice and requires you to start taking money out, whether you need it or not. For traditional IRAs and 401(k)s, those required withdrawals now begin at age 73, and missing one triggers…
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A Medicare program called Extra Help can cut a senior’s drug costs by about $5,900 a year
There is a Medicare program that can slash what a senior pays for prescription drugs, and Social Security estimates it is worth about $5,900 a year to those who qualify. It is called Extra Help, and despite that hefty value, many people who are eligible never sign up, often because they have never heard of…
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Your children and a spouse caring for them can also draw on your Social Security
Most people think of Social Security as a check for the retired worker and maybe a spouse. But the program can also pay benefits to a worker’s minor children and to a spouse who is caring for those children, on top of the worker’s own benefit. For a family with young or dependent children and…
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NewYork-Presbyterian could go out of network with UnitedHealthcare’s Medicare Advantage plans on September 1
If you carry a UnitedHealthcare Medicare Advantage plan and get your care at NewYork-Presbyterian, a coverage change could land on your doorstep at the start of next month. The hospital system and the insurer have kept current coverage in place through August 31, 2026 while they try to reach a new contract, but if they…
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A little-known Medicare program can pay your Part B premium for low-income seniors
Every month, Medicare quietly deducts the Part B premium from millions of Social Security checks. For seniors with limited income, that deduction stings, and many do not realize the government has a program that can cover it entirely. Medicare Savings Programs help people with modest income and savings pay their Part B premium, and the…
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Waiting past full retirement age adds 8% to a Social Security check for each year until 70
Deciding when to start Social Security is one of the biggest money choices most retirees make, and waiting can pay off in a way few other decisions do. For every year you delay claiming past your full retirement age, your benefit grows by about 8%, up to age 70. Someone whose full retirement age is…
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A lower-earning spouse can collect up to half of a partner’s Social Security benefit
If one spouse earned far more than the other over a working lifetime, Social Security has a rule that can lift the lower earner’s check considerably. A spouse can collect a benefit worth up to half of the higher earner’s full retirement amount, even with little or no earnings record of their own. For a…
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Moffitt, Florida’s top cancer hospital, is now out of network for Humana and Aetna Medicare Advantage plans
For a Florida retiree fighting cancer, the name of the hospital on the insurance card can matter as much as the diagnosis. Moffitt Cancer Center in Tampa, the state’s only National Cancer Institute-designated cancer hospital, is now out of network for several of the biggest Medicare Advantage plans in the market. If you or a…
