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...

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  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 ...