Blog
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We already knew Social Security benefits were rising 2.5% due to the Cost of Living Adjustment (COLA). We now know Medicare premiums will increase, as well, cutting into the increase for most recipients. Centers for Medicare and Medicaid Services (CMS) has announced the part B premium for most recipients will increase by $10.30 from $174.70…
3+ weeks ago -
Just when the Social Security Agency finally had a progressive, engaged commissioner in former mayor of Baltimore and governor of Maryland, he’s gone. Effective November 29th Martin O’Malley is resigning to run for chairman of the Democratic National Committee. Among other positive changes made during O’Malley’s all too brief tenure as commissioner was modification of…
a month+ ago
News
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Summer 2021 Newsletter STILL STANDING…AND PRACTICING I published the first issue of Social Security & You in Spring of 1993. Some years I’ve published more issues than others. The most recent issue was dated Spring 2019: over 2 years ago. The world was a much different place then. Especially for me. Read the full newsletter…
3+ years ago -
Spring 2019 Newsletter An Opioid Story I’ve changed his name. Let’s call him Gerald. He was a laborer. And by that I don’t mean that he just did physical work. He was a card-carrying member the Labor’s Union local. And that meant a lot to him. I represented him for Social Security disability and Michigan…
5+ years ago
ANNUAL SOCIAL SECURITY & MEDICARE TRUSTEE REPORT RELEASED
The annual Social Security & Medicare Trustee Report was released at the end of March and the news was mixed.
The Social Security retirement trust fund will be unable to pay full retirement benefits, unless something is done to shore it up, in 2033. However, the Social Security disability trust fund is in much better shape. There is enough money in that fund to pay projected full benefits for 75 years.
The short term news for the Medicare trust fund is a little better. Premiums went down slightly this year and health care spending is down accordingly, partly because 1.1 million Americans died of COVID. Also, knee and hip replacements have become so routine the largely done on an outpatient basis.
Nevertheless, the Medicare trust fund will not be able to pay full benefits as of 2031, unless it is shorn up. Last year it was projected to be broke as of 2028.
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