Senior Editor, Money Team

Eileen Ambrose is a senior editor and writer for the Money Team. She previously was a personal finance columnist with the Baltimore Sun.

Federal Agencies Team Up to Help Workers Make Smarter Retirement Decisions

Workers are often confused about Social Security, which can lead them to shortchange themselves later when claiming benefits. A new report by the Consumer Financial Protection Bureau (CFPB) cites studies that find only 1 in 5 preretirees know their full retirement age for Social Security. (For anyone born after 1942, the age is 66 to 67 years old.) And only 1 in 8 understand how benefits would change if they claimed them before, at or after their full retirement age. Simple …

Brokerages May Be Getting More Tools to Protect Older Clients

En español | A securities industry group recently proposed changes to how brokers and their firms handle accounts in an effort to protect older consumers and vulnerable clients against fraud. Investment firms have been increasingly concerned about the financial exploitation of older clients, particularly those who might suffer from dementia or other cognitive impairment. But many firms say they’re limited by regulations governing just how much they can intervene. Currently, regulations require firms to protect a client’s privacy, so firms …

How the Budget Deal Blunts Medicare Cost Increases, Tweaks Social Security

The bipartisan budget agreement reached by the White House and congressional leaders wards off a spike next year in Medicare premiums and deductibles for millions of older Americans as well as ensures full Social Security disability benefits to millions who had faced steep cuts. President Barack Obama signed the accord Nov. 2 after the House of Representatives adopted it Oct. 28 and the Senate Oct. 30. In a letter to Congress, AARP CEO Jo Ann Jenkins applauded the agreement: “Your …

No 2016 Social Security Benefits Increase; Medicare Premium Spikes for Some

It’s official: Not only will almost 65 million Social Security recipients not get a cost-of-living increase next year,  millions of Medicare beneficiaries will see their premiums for doctor visits and outpatient care go up by more than 50 percent unless the government intervenes. The Oct. 15 announcement by the Social Security Administration confirmed projections in the Social Security and Medicare trustees reports released in July: For the third time since 2010, there will be no bump in checks because falling energy …

What Workers Can Expect During Open Enrollment

Heads-up, workers. Open enrollment season is just around the corner. That’s when you’ll make your selections for the benefits you’ll receive next year. Here are a few changes you may see in your employer’s health plan for 2016, according to Tracy Watts, a senior partner with benefits consultant Mercer:   Telemedicine. More employers will be covering doctor visits done over the phone, Skype or FaceTime. These virtual visits cost a fraction of an in-person consultation. Health cost estimators. To help …