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“It was a shock when my husband died,” said Mrs. Brown, who thought she had a pretty good understanding of the system after three decades working in the savings and loan industry and then volunteering in retirement at a group that supports shoring up Social Security, Medicare and Medicaid. “But after they applied the Social Security formula, which is rather complicated, to my situation, the next shock was learning that the benefits would be cut 25 percent.”
via New York Times.
Related Reading:
- Women’s Social Security Benefits via Eleanor’s Hope.
- As more women entered the workforce in the second half of the twentieth
century, their contribution to total household income increased.
However, Social Security rules have not been updated to reflect this
societal change. Consequently this increased share of household income
contributed by wives will not result in higher widows’ benefits. On the
contrary, more widows will experience a reduction approaching 50 percent
of household income.
In a New Hampshire speech, New Jersey’s GOP governor proposed an overhaul of Social Security, Medicaid and Medicare that would reduce benefits for some retired seniors, eliminating them entirely for individuals with income over $200,000 and raising the retirement age to 69.
via NJ Today.
This isn’t anything new. Christie is very vocal when it comes to earned benefits.
Related Reading:
This year marks the 50th anniversaries of Medicare and Medicaid and the 80th anniversary of Social Security. Fifty-seven percent of people on Medicare, 70 percent of adults on Medicaid and 56 percent of Social Security recipients (66 percent of those over 85) are women. Together, Social Security, Medicare and Medicaid provide critical health and financial security.
via Huffington Post.
Related Reading:
- Women and Social Security.
- While Social Security is a program that is vitally important to all Americans, it is especially important to the financial security of women. There are a number of reasons why this is so. First of all, women live longer than men.
- Medicare and Women.
- Medicare, combined with Social Security, has improved the economic status of older Americans and younger people with disabilities. Prior to Medicare, one - half of older Americans were uninsured and one - third were living in poverty. Today, with access to health care coverage, the poverty rate for seniors is nine percent.
- Women and the Retirement Savings Gap.
- Older women have significantly lower retirement benefits than men.
However, some conservatives in Congress insist that relief for programs like the Older Americans Act be paid for by cutting Medicare and Medicaid. This budgetary sleight-of-hand could trade partial relief for some seniors’ programs by cutting other essential health security programs like Medicare and Medicaid, thus further eroding the tenuous economic situation many older Americans face.
Max Richtman via Huffington Post.
Millions of current and future retirees were no doubt hoping that President Trump would use last night’s speech to Congress to reaffirm his promises not to touch Social Security and Medicare. Instead, the President ducked and covered. He did not even utter the words “Social Security” or “Medicare” in his entire hour-long address. As for Medicaid – which millions of American seniors rely upon for skilled nursing care – the President only touched on it once, with a veiled reference to converting guaranteed benefits into block grants, which would hurt beneficiaries.
via Entitled to Know.
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This is just what one would expect in a market economy of rising inequality. What is surprising, however, is that there was once a broadly equal distribution of retirement time across divisions of class and race. This greater equality was a product of several egalitarian policies and institutions created in the mid-20th century, all of which are now under assault—Social Security, Medicare, pension plans, and disability policy. Thanks to these measures, as recently as the 1980s, low-income people who spent roughly the same number of years in the workforce as high-income people obtained approximately the same years of retirement.
via American Prospect.
Highly recommend reading this article. With more and more individuals relying on Social Security, it is important that Congress acts now and BOOST benefits for all working Americans.
Related Reading:
The movement in Washington to gut our most crucial social insurance programs - not only Social Security and Medicare, but Medicaid, too - amounts to nothing less than a war on the working class: people at all levels of income and employment who are counting on retirement income and health security.
via Huffington Post.
Senator Romney’s legislation has no provisions to ensure that future #seniors’ earned benefits are adequate for the expenses they will face. #TRUSTact @RepJohnLarson https://www.ncpssm.org/entitledtoknow/romneys-trust-act-is-back-again/