INSIDER
What to know about the House push to expand some Social Security benefits
Read full article: What to know about the House push to expand some Social Security benefitsThe House is expected to try next week to pass a Social Security-related bill to ensure benefits for workers who are also eligible for other pensions.
What to know about this year's Social Security cost-of-living adjustment
Read full article: What to know about this year's Social Security cost-of-living adjustmentTens of millions of older Americans will see a 2.5% increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments.
Social Security recipients will get a 2.5% cost-of-living boost in 2025, smaller than in recent past
Read full article: Social Security recipients will get a 2.5% cost-of-living boost in 2025, smaller than in recent pastMillions of retirees who receive Social Security benefits will see a 2.5% cost-of-living increase to their monthly checks beginning in January.
Social Security's scheduled cost of living increase 'won't make a dent' for some retirees
Read full article: Social Security's scheduled cost of living increase 'won't make a dent' for some retireesSocial Security recipients are expected to receive a smaller cost-of-living increase in January than in recent years as inflation moderates.
Tips, overtime, Social Security: A look at Donald Trump's no-tax pledges and what they might cost
Read full article: Tips, overtime, Social Security: A look at Donald Trump's no-tax pledges and what they might costDonald Trump has pledged to end taxes on everything from tips to Social Security and overtime pay if he’s elected to the White House again.
An appeals court has revived a challenge to President Biden's Medicare drug price reduction program
Read full article: An appeals court has revived a challenge to President Biden's Medicare drug price reduction programA constitutional challenge to the Biden administration program enabling Medicare to negotiate lower prices for prescription drugs has been revived by a federal appeals court.
Beyond 'childless cat ladies,' JD Vance has long been on a quest to encourage more births
Read full article: Beyond 'childless cat ladies,' JD Vance has long been on a quest to encourage more birthsJD Vance repeatedly expressed alarm about declining birth rates as he launched his political career with a bid for the U.S. Senate in Ohio.
Key senators reach agreement on spending levels for next year, setting up clash with House
Read full article: Key senators reach agreement on spending levels for next year, setting up clash with HouseThe Senate will pursue a spending increase next year of about 3.4% for defense and 2.7% increase for non-defense programs under a bipartisan agreement reached by the Senate Appropriations Committee.
For decades, states have taken foster children's federal benefits. That's starting to change
Read full article: For decades, states have taken foster children's federal benefits. That's starting to changeStates have for decades been using foster children's federal Social Security benefits to help cover the costs of state services.
The federal debt tops $34 trillion and some in Congress want a commission to find ways to tackle it
Read full article: The federal debt tops $34 trillion and some in Congress want a commission to find ways to tackle itA bill to create a bipartisan commission that would tackle the nation’s soaring debt and make policy recommendations to Congress has won approval from a House committee.
What to know about the Social Security cost-of-living adjustment
Read full article: What to know about the Social Security cost-of-living adjustmentTens of millions of older Americans will see a modest increase in benefits in January when a new cost-of-living adjustment is added to Social Security payments.
Social Security benefits will increase by 3.2% in 2024 as inflation moderates
Read full article: Social Security benefits will increase by 3.2% in 2024 as inflation moderatesThe acting Social Security commissioner says a 3_2% increase in benefits next year “will help millions of people keep up with expenses."
Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government
Read full article: Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US governmentEven with new spending restraints included in the congressional debt limit deal, the U.S. government’s deficits are still on course to keep climbing to record levels over the next few decades.
Most oppose Social Security, Medicare cuts: AP-NORC poll
Read full article: Most oppose Social Security, Medicare cuts: AP-NORC pollAmericans are deeply opposed to cutting into Medicare or Social Security benefits, and most support raising taxes on the nation’s highest earners to keep Medicare running as is.
Medicare, Social Security could fall short over next decade
Read full article: Medicare, Social Security could fall short over next decadeAn annual report on Social Security and Medicare says the financial safety nets millions of older Americans rely on and millions more young people are counting on will run short on funds to pay full benefits within the next decade.
Poll: Cut federal spending — but not big-ticket programs
Read full article: Poll: Cut federal spending — but not big-ticket programsIn the federal budget standoff, the majority of U.S. adults are asking lawmakers to pull off the impossible: Cut the overall size of government, but also devote more money to the most popular and expensive programs.
Haley wants entitlement program changes for younger people
Read full article: Haley wants entitlement program changes for younger peopleRepublican presidential candidate Nikki Haley is proposing changes to entitlement programs for younger generations, opening the door to potential cuts to Social Security and Medicare if elected.
Sen. Rick Scott alters policy plan causing heartburn for GOP
Read full article: Sen. Rick Scott alters policy plan causing heartburn for GOPRepublican Sen. Rick Scott of Florida has amended a plan to overhaul how the federal government works after Democrats repeatedly seized on it to accuse Republicans of looking to cut Medicare and Social Security.
Biden warns of GOP plans for Medicare, Social Security cuts
Read full article: Biden warns of GOP plans for Medicare, Social Security cutsWhen President Joe Biden suggested that Republicans want to slash Medicare and Social Security it brought howls of protests from the GOP side of the aisle during the State of the Union address.
Social Security boost seen as unlikely to help Dems at polls
Read full article: Social Security boost seen as unlikely to help Dems at pollsThe news that 70 million people will see an 8.7% boost in their Social Security checks next year came just weeks before Election Day, but it's unlikely to give Democrats the edge they're desperately seeking at the polls.
How Social Security works and what to know about its future
Read full article: How Social Security works and what to know about its futureTens of millions of older Americans will see a major increase in benefits this January when a new cost-of-living adjustment (or COLA) is added to Social Security payments.
Money Minute: When you should take Social Security benefits
Read full article: Money Minute: When you should take Social Security benefitsFor those getting ready to begin taking their Social Security benefits, it’s important to keep in mind just how much you can receive depending on what your age is.
Money Minute: Understanding Medicare Advantage plan
Read full article: Money Minute: Understanding Medicare Advantage planIf you’re signing up for Medicare soon, it’s important to know how to pay for the things that the original Medicare plan does not pay for, like co-pays, co-insurance and deductibles.
Money Minute: Medicare does not cover all payments -- what to know
Read full article: Money Minute: Medicare does not cover all payments -- what to knowIf you’re signing up for Medicare soon, it’s important to know how to pay for the things that the original Medicare plan does not pay for, like co-pays, co-insurance and deductibles.
Money Minute: Understanding Medicare Advantage, the more expensive option
Read full article: Money Minute: Understanding Medicare Advantage, the more expensive optionWe’re taking a special look at to the elements of Medicare and what you need to know before signing up. In this segment, we’re covering Medicare Advantage -- a more expensive health care option.
Go-broke dates pushed back for Social Security, Medicare
Read full article: Go-broke dates pushed back for Social Security, MedicareA stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs.
Sunday Read: Social Security recipients to get boost as rising costs continue
Read full article: Sunday Read: Social Security recipients to get boost as rising costs continueStarting next year (2022), you’ll get more money, a lot more, but it will be to cover rising costs. Here’s a closer look at what to expect.
COVID recession pushed Social Security insolvency up a year
Read full article: COVID recession pushed Social Security insolvency up a yearThe sharp shock of the coronavirus recession pushed Social Security a year closer to insolvency but left Medicare’s exhaustion date unchanged, the government reported Tuesday.
Taxes: Answers to top FAQs about Social Security income
Read full article: Taxes: Answers to top FAQs about Social Security incomeEven for those of us who think we have some knowledge about anything tax related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.
Retiree checks to rise 1.3% in 2021 amid coronavirus fallout
Read full article: Retiree checks to rise 1.3% in 2021 amid coronavirus falloutWASHINGTON – Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people. The economic fallout from the virus has reduced tax collections for Social Security and Medicare, likely worsening their long-term financial condition. The former vice president would raise Social Security taxes by applying the payroll tax to earnings above $400,000 a year. That amount generally increases, so at least some of any additional Social Security raise goes to health care premiums. That prompted Congress to pass recent election-year legislation that limits next year’s premium increase but gradually collects the full amount later on under a repayment mechanism.
IRS launches ‘Get My Payment’ website to help with stimulus payments
Read full article: IRS launches ‘Get My Payment’ website to help with stimulus paymentsThe IRS has launched a “Get My Payment” website to help people track the status of their coronavirus stimulus payment. The “Get My Payment” website is aimed at helping you:Check your payment statusConfirm your payment type: direct deposit or checkEnter your bank account information for direct deposit if we don’t have your direct deposit information and we haven’t sent your payment yetIf you need to let the IRS know about your new address, go here. The IRS is expected to make about 60 million payments to Americans through direct deposit for people who used direct deposit on their 2018 or 2019 tax returns. This will include Social Security beneficiaries who filed federal tax returns that included direct deposit information. These payments will be made to Social Security beneficiaries who did not file tax returns in 2018 or 2019 and receive their Social Security benefits via direct deposit.
Here’s the expected timeline for direct stimulus payments to Americans amid coronavirus
Read full article: Here’s the expected timeline for direct stimulus payments to Americans amid coronavirusDETROIT – Michigan Congresswoman Debbie Dingell released the expected timeline for direct stimulus payments made to Americans amid the coronavirus pandemic. The estimates are that nearly 99 percent of Social Security beneficiaries who do not file a return receive their benefits through direct deposit. The economic impact payment will be deposited directly into the same banking account reflected on the return filed. People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. How long are the economic impact payments available?
Warren health plan departs from US 'social insurance' idea
Read full article: Warren health plan departs from US 'social insurance' ideaThat's different from the "social insurance" or shared responsibility approach taken by Democratic presidents like Franklin D. Roosevelt, Harry Truman and Lyndon Baines Johnson. The Warren campaign says the reason programs like Social Security and Medicare are popular is that benefits are broadly shared. Truman's plan for universal health insurance did not pass, but it would have been supported by payroll taxes. "If you look at the two core social insurance programs in the United States, they have always been financed as a partnership," said William Arnone, CEO of the National Academy of Social Insurance, a nonpartisan organization that educates on how social insurance builds economic security. Under Warren's plan, nearly $9 trillion would come from businesses, in lieu of what they're already paying for employees' health care.
FTC reports sharp increase in phone scams
Read full article: FTC reports sharp increase in phone scamsAmericans have forfeited at least $450 million this way to government impostor scams since 2014, the FTC said and that only counts the victims regulators know about. Government impostors became the number one source of FTC complaints and now account for the lion's share of impostor scams overall. "Toward the fall, we started to see these scams really, really pick up." Thousands of consumers who reported the scam this year told the FTC they lost money. Last week, the FTC, Justice Department, and various states and local authorities brought nearly 100 cases against alleged robocallers.