Jagger EschHow to Protect Yourself from Insurance Fraud
When discussing the financial world, insurance is probably one of the safer aspects according to statistics. This doesn’t mean immunity from insurance fraud. For seniors, this is a cause of concern as many don’t use a computer regularly. The biggest issues regarding insurance fraud among consumers are stolen social security numbers, fake insurance policy placement, and scams looking to steal any personal information possible. The good news is you don’t have to be caught off guard. Be proactive and protect yourself against insurance fraud. Also, don’t be afraid to report fraud. Tips to Protect yourself From Insurance Fraud and Scams
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Rod SpurgeonScammers stealing Social Security numbers from Medicare recipients
Medicare will soon roll out new Medicare Health Insurance cards to all seniors. The new cards are designed to help prevent identity theft by removing one specific piece of information – Social Security numbers. Identity thieves are aware of this change and are currently scrambling to obtain as many Social Security numbers and other personal information from seniors as possible before the release date. Scammers stealing Social Security numbers from Medicare recipients Instead of Social Security numbers, the new cards will use unique Medicare numbers to identify cardholders. The new Medicare number is only useful for Medicare purposes and is
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Carol MarakSocial Security Changes to Safeguard Online Accounts
Last year, the Social Security Administration stated that it would require a two-factor authentication for online account users. Initially, they would use a cell phone for the authentication. The older recipients who said they didn't own cell phones didn't like the idea. So the design changed. Social Security Changes to Safeguard Online Accounts However, the government agency moved forward with the idea of ramping up security for recipients using a computer to access their accounts. The hope is to cut back on the number of hacks of government websites. And the agency found success. So, as of June 10, 2017, people
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Jeff DaileyRetirement Can Hurt Boomer Living Standards
How retirement hurts living standards for baby boomers The baby boom generation -- aged 52 to 70 -- is going into its “Golden Years,” and some boomers would like to keep working or even take a second job to supplement Social Security. Retirement can Hurt Boomer Living Standards But a study from the National Bureau of Economic Research (NBER) categorically refutes this scenario. The “tax disincentives” of working nine-to-five -- or earning an extra $20,000 at the local McDonalds -- make employment a lost cause. What they’ll see instead is most of that paycheck vanish into the black hole of the IRS, not
Continue reading2016 Guide to Social Security Benefits
Social Security is an important part of most Americans' retirement planning, so it's important to know how it works and how you can estimate your Social Security benefits. You should also understand your Social Security eligibility and how taking Social Security benefits before, at, or after full retirement age can affect your retirement income. 2016 Guide to Social Security Benefits How your Social Security benefit is calculated Unlike many pension plans, which are based on just the top few years of your earnings, Social Security takes your 35 highest-earning years into account when computing your benefit. Each year's income, up to the
Continue readingTop Presidential Election Aging Issues
Questions seniors should ask the candidates about Social Security and Medicare Whether you're retired, still working, or in school, be concerned about Social Security and Medicare, because they are in trouble. If you’re like 170 million Americans who contribute to Social Security and Medicare, or one of the 54 million who rely on both, you should demand to know the candidates’ plans. Presidential Election Aging Issues At the heart of many retiree’s financial security, lies Social Security, but its solvency is at risk. The program celebrated its 80th anniversary, and it continues to help lower the poverty rate among older Americans,
Continue readingSocial Security Spouse Eligibility
Spouse Eligibility In order to receive benefits from Social Security, spouses do not need to have worked and paid SS taxes. The reason for this is that they qualify for the benefits on your record. At their full retirement age, a spouse can receive benefits equal to ½ of the full amount of benefits you receive. A spouse can start receiving benefits as early as age 62, but the amount will be permanently reduced by a percentage based on the number of months until his/her full retirement age. If your spouse is working but his/her benefits are lower than yours,
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Kimberly JohnsonSocial Security Makes Seniors Active Citizens
Social Security Makes Seniors Active Citizens Anyone who has been to a political gathering or tracked election-night statistics knows that America’s senior citizens are super-participators. More than younger adults, seniors regularly turn out to vote, make campaign contributions, and contact officials. It hasn’t always been this way. Decades ago, senior citizens were the least active age group. What changed? A major public program – Social Security – not only grew to provide economic security, but also helped turn older Americans into attentive, active, and politically effective citizens. How Social Security Encourages Seniors to be Active Citizens Social Security Grows into a
Continue readingWhat is Social Security?
What is Social Security? Social Security in the United States refers to the (OASDI) program, Old-Age, Survivors, and Disability Insurance, which is the overall program that supports the following initiatives:What is Social Security? Federal Old-Age, Survivors, and Disability Insurance Unemployment benefits Temporary Assistance for Needy Families Health Insurance for Aged and Disabled (Medicare) Grants to States for Medical Assistance Programs (Medicaid) State Children's Health Insurance Program (SCHIP) Supplemental Security Income (SSI) Social Security is a social insurance program funded through dedicated payroll taxes called Federal Insurance Contributions Act (FICA). Tax deposits are formally entrusted to Federal Old-Age and Survivors Insurance
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