2021 COLA: A Raise Likely for Social Security Recipients After All Relax , looks like an increase is coming for 2021 Social Security checks . Inflation has been on a roller coaster in 2020 . Summer rebounds in those commodities , as well as increases for in-demand items like used cars , meat and haircuts , have put the consumer price index back on a more normal trajectory , one that will likely mean an increase in the Cost of Living Adjustment for 2021 . The Kiplinger Letter is now forecasting a 1 . 2% increase in the 2021 COLA , which should be welcome news to retirees and others who receive Social Security benefits . The Social Security Administration is required by law to prevent inflation from eroding the buying power of the benefits paid out to nearly 69 million Americans . It uses a Social Security COLA formula based on the consumer price index to adjust payouts every January . Note that the Social Security Administration ties its adjustment for S...

Help available for paying for healthcare costs.  Having trouble paying for healthcare costs? CALL 719-299-1438 to Learn about Extra Help and Medicare Savings Programs that may be able to help you pay your Medicare premiums and other costs. Learn more about Medicare Savings Plans at Medicare.gov HERE...

  When to join a Medicare Advantage Plan or Medicare Prescription Drug Plan   The best time to join a Medicare health or drug plan is when you first get Medicare. Signing up when you’re first eligible can help you avoid paying a lifetime Part D late enrollment penalty . If you miss your first chance, generally you have to wait until fall for Medicare’s annual Open Enrollment Period (October 15–December 7) to join a plan. During this time each year, you can also drop or switch your plan coverage. It’s important to understand when you can enroll in Medicare and be confident in your choices. Learn more about signing up for Medicare ... continue reading HERE ... Annual Enrollment Period starts Oct. 15 to Dec. 7. Call me @ 719-299-1438 to find your Medicare Health Plan for 2021! #medicare #MedicareAdvantage #seniorcare  

  Who is entitled to their ex-spouse's Social Security?  You are eligible to collect spousal benefits on your former wife’s or husband’s earnings record as long as: The marriage lasted at least 10 years. You have not remarried. You are at least 62 years of age. Your ex-spouse is entitled to collect Social Security retirement or disability benefits .  Your former spouse doesn't have to be collecting his or her retirement benefits yet for you to claim ex-spousal benefits. However, if this is the case, the divorce must be at least two years old. (There is no such requirement if your ex is already receiving benefits.) Continue Reading HERE ...

 

  Changing from the Marketplace to Medicare If you have a Marketplace plan, you can keep it until your Medicare coverage starts.   Once you’re eligible for Medicare, you’ll have an Initial Enrollment Period to sign up for Medicare. For most people, the Initial Enrollment Period starts 3 months before their 65th birthday and ends 3 months after their 65th birthday.   In most cases, if you have a Marketplace plan when you become eligible for Medicare, you’ll want to end your Marketplace coverage. Continue Reading HERE .  

  When can I collect Social Security?  The earliest you can start collecting retirement benefits is age 62. You can apply once you reach 61 years and 9 months of age .  Continue Reading HERE ...

    An Effective COVID Treatment the Media Continues to Besmirch  There are now 53 studies that show positive results of hydroxychloroquine in COVID infections. A recent study from Spain published on July 29, two days before Margaret Sullivan’s strafing of “fringe doctors,” shows a 66% reduction in COVID mortality in patients taking hydroxychloroquine.  Read More HERE ...

  Gather these items now so your final wishes are met and their burden is lighter  shapecharge/getty images I saw firsthand how unprepared most people are to write an obituary, advise friends and family of a death, or plan a funeral or memorial service. Just as the coronavirus is prompting many people to rush to make their wills, it also can be an opportunity to think about what you'd want to happen if your family needed to arrange for a funeral. Here's what you can do now to spare your loved ones the added grief of not knowing your full life story or your final wishes for burial or a service. Service preferences Although many gatherings for funerals are not possible under current restrictions, people are holding online events and may be able to hold memorial services at some point. What would you like loving friends, family, colleagues to hear about you when they gather to celebrate your life? Email list Having a list of friends, family members and others to be contacted upon...

  12 Tips from Top Feds to Avoid Fraud During the Pandemic A dozen federal officials offer advice to outsmart coronavirus scammers by Katherine Skiba Getty Images Twelve top scam fighters from the federal government participated in AARP's “Slam the Scam: Coronavirus Edition” webinar. Here is a selection of tips from the fraud experts. Register for free to watch the full webinar. “Some bad actors are trying to take advantage of the COVID-19 emergency  and they've become extremely creative. For example, we've seen fraudulent offers for free COVID-19 testing , test kits or protective gear — through robocalls, websites or social media. These individuals or groups have no intent of delivering the [products and] services they claim to offer." — Kimberly Brandt, Centers for Medicare & Medicaid Services Do not give out your Medicare number  “to anyone other than your doctor, health care provider or other trusted representative. Be cautious of unsolicit...

  Protect yourself when picking up prescriptions It's important to keep taking your medications as prescribed during the COVID-19 pandemic. Here are some tips to help you protect yourself from COVID-19 when getting your prescriptions:  If possible, call in prescription orders ahead of time. Use drive-thru windows, curbside services, mail-order, or other delivery services. Try to make one trip, picking up all medicine at the same time. If you go into the pharmacy, remember to wear a face covering and maintain social distance. During this time, you may also want to contact your Medicare prescription drug plan to see if they've temporarily waived certain requirements to help prevent the spread of COVID-19 — like waiving prescription refill limits or relaxing restrictions on home delivery or mail delivery of prescription drugs. You can also ask your Medicare drug plan about   extended-day supplies . For more general information about COVID-19 and your Medicare coverage, visit...

 

    What are Medicare late enrollment penalties?   Part A late enrollment penalty Some people have to buy Part A because they don't qualify for premium-free Part A. If you have to buy Part A, and you don't buy it when you're first eligible for Medicare, your monthly premium may go up 10%. You'll have to pay the higher premium for twice the number of years you didn't sign up.  Example If you were eligible for Part A for 2 years but didn't sign up, you'll have to pay the higher premium for 4 years. Usually, you don't have to pay a penalty if you meet certain conditions that allow you to sign up for Part A during a special enrollment period . If you have limited income and resources, your state may help you pay for Part A, and/or Part B. You may also qualify for Extra Help to pay for your Medicare prescription drug coverage. Part B late enrollment penalty If you didn't get Part B when you're first eligible, your...