Three Big Wins for Retired People in New Budget Act

People of retirement age and their families scored three significant victories in the budget act passed by Congress. 1. We preserved every cent of current Social Security recipients’ benefits. Millions of Social Security recipients were going to have their benefits automatically cut by 20 percent in 2016. That’s been stopped. No current recipient will lose a cent of Social Security benefits. Social Security Calculator: When Should You Claim Your Benefits? » 2. We halted skyrocketing Medicare premiums. Millions of Medicare recipients …

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 …

With No COLA Increase, Congress Should Pass Medicare Fix

AARP sent the following letter to Congress on Oct. 14. AARP has deep concern that for only the third time in over 40 years, there will be no Social Security cost-of-living adjustment for 2016. To make matters worse, as a result, 30 percent of Medicare beneficiaries will see their monthly Medicare Part B premium dramatically increase, and all Medicare beneficiaries will experience an increase in their Part B deductible. Congress should protect the 16.5 million Medicare beneficiaries — which includes new …

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 …

At Your Fingertips: A Trove of Data on Boomers and Americans 50-Plus

We are a data-driven society. We need data to address the challenges and opportunities facing the 50-plus population. I am pleased to announce that today AARP’s Public Policy Institute launched the AARP DataExplorer, a free website tool that provides a rich collection of data on issues relevant to people age 50 and older. The 50-plus group accounts for a third of the United States’ population, with about 110 million people. People in the baby boom generation make up 80 million …

Reframing the Social Security Decision

When should you begin taking Social Security benefits? That was a question asked of AARP.org visitors and registered website users . Less than 19 percent selected age 70, though that’s exactly what I tell the vast majority of my clients to do. Most object to my recommendation until I frame the decision in a different way, which is that they can spend money now and still let it grow. Take this recent case, for example. Kate is 66 and is …