Healthcare costs put a big squeeze on retiree pocketbooks, but the grip may be relaxing a bit. A 65-year-old couple retiring this year will need $220,000 to pay for healthcare for the rest of their lives, an amount that is eight percent less than a year ago, according to a Fidelity Investments report issued Wednesday. [...] [...more]
There will be good and bad news next year for seniors using Medicare’s prescription drug program. Overall, enrollees can expect a year of flat or decreasing Medicare prescription drug costs, according to data released last week by the federal government. The government said Medicare’s per-beneficiary drug costs fell 4 percent last year. As a result, [...] [...more]
Congressional Republicans want to raise Medicare’s eligibility age as part of a deal with Democrats to avoid falling off the fiscal cliff. Raising the eligibility age from 65 to 67 would save some money for Medicare and low-income seniors. But at the same time, it would boost out-of-pocket insurance costs for two-thirds of seniors in [...] [...more]
The rising cost of Medicare premiums will take a bigger bite out of seniors’ wallets next year – but the amount will smaller than was predicted by a federal government forecast earlier this year. The monthly premium for Medicare Part B (outpatient services) will jump five percent in 2013 to $104.90, the Centers for Medicare [...] [...more]
What you don’t know about Social Security and Medicare can hurt you. Both of these critical retirement programs have complex rules governing when you file for benefits, interaction with employment, and spousal and survivor benefits. Any one of these factors can make thousands of dollars of difference to seniors in lifetime benefits or costs. I [...] [...more]
