Special Payments After Retirement

Q:  I retired in 2011 but expect income in 2012 from work done before I retired.  Will this lower my 2012 Social Security benefits?  A:  For people younger than full retirement age, the SSA annual earnings test, also called the retirement test, concerns how much can be earned from wages or self-employment in a calendar…
Read More

Medicare Premiums & Deductibles For 2012

Medicare premiums and deductibles for 2012 have been announced by the Department of Health and Human Services, Centers for Medicare and Medicaid Services (CMS).  Of special interest is that the Medicare Part B (Supplemental Medical Insurance) premium will be $99.90 per month in 2012, a decrease of $15.50 over the 2011 base premium of $115.40.   Depending…
Read More

Medicare Prescription Drug (Part D) Open Enrollment Season & Extra Help

Open season for Medicare Part D (Prescription Drug) coverage is October 15 to December 7, 2011.   Due to your changing needs and annual plan changes, review your existing policy.   Plans for 2012 are at www.medicare.gov under the “Formulary Finder – 2012 Plan Data” link.  You will need a list of your medications to compare plans. …
Read More

When Are You Age 62 For SSA Retirement?

Q:  Two of my friends started Social Security retirement at age 62.  One received benefits for the month he was 62 while the other was first paid for the following month.  Why? A:  The difference was probably due to when each was born during the month.  SSA retirement can begin the first month a person…
Read More

Social Security Cost-of-Living Adjustment (COLA)

On October 19th, Social Security announced a 3.6 percent benefit increase for 2012.  Here is the official SSA press release, also at www.socialsecurity.gov.   Note the section:  Information about Medicare changes for 2012, when announced, will be available at www.Medicare.gov.  For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare…
Read More