To stop a perceived encouragement of abuse by seniors of "interest-free loans" on Social Security benefits, the Social Security Administration has published a new rule, already effective, that limits the ability to apply to early Social Security benefits, take the funds, change your mind and repay only the benefit amounts. The full blog post from the New York Times is here.
The Alzheimer's Association recently announced a major victory for people diagnosed with early onset Alzheimer's disease. Those afflicted will now be fast-tracked through the system to qualify for Social Security Disability benefits. Read about this exciting development here Social Security Disability
While the government has announced that there is no expectation of a cost of living adjustment (often referred to as "COLA") for Social Security recipients in 2010, the Medicare Part B premium paid by many will likewise not increase. There are certain individuals who may pay more, however. See below for a very informative article posted by the Center for Medicare Advocacy, Inc.:
Frequently when meeting with seniors I am reviewing assets AND income as we prepare for long term care options and ask the hard question - what can I afford for living arrangements? Clearly when there is good retirement income more housing options become available. For 2009, Social Security may be going up significantly for seniors, easing that income pinch a bit. See the link below for the full story from The Boston Globe:Social Security Increase