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The Social Security Administration has announced a 1.3 percent rise in benefits in 2021, an increase even smaller than last year’s. Cost-of-living increases are tied to the consumer price index, and a modest upturn in inflation rates and gas prices means Social Security recipients will get only a slight boost in 2021. The 1.3 percent increase is similar to last year’s 1.6 percent increase, but much smaller than the 2.8 percent rise in 2019. The average monthly benefit of $1,523 in 2020 will go up by $20 a month to $1,543 a month for an individual beneficiary, or $240 yearly.…Read More »
Should Seniors Who Lose Their Job During the Coronavirus Pandemic Claim Social Security Benefits Early?
In the wake of the coronavirus pandemic, unemployment is skyrocketing. Seniors who lose their jobs may be tempted to claim Social Security benefits early, but should they, given the resulting reduction in future benefits?Read More »
As the COVID-19 pandemic continues to spread, estate planning is a higher priority than ever. But no one wants to put themselves or others at risk while doing it. Elder law and estate planning firms are well aware of this concern.Read More »
With coronavirus dominating news coverage and creating alarm, it is important to know that Medicare and Medicaid will cover tests for the virus.Read More »
The federal government has released the 2020 federal guidelines for how much money the spouses of Medicaid recipients may keep, as well as related Medicaid figures.Read More »
Both workers and retirees may need to rethink some of their estate planning in light of a new law that has made major changes to retirement plans, including inherited plans.Read More »