Inflation, Medicare, taxes will affect Social Security income in 2022

Medicare Part B Premiums While the cost of living adjustment typically goes up each year, the Medicare Part B premiums that older Americans pay for physician and outpatient services. In 2022, the premium for Standard Medicare Part B will rise to $170.10, well above $158.50. The record increase of 14.5% was driven by multiple factors, … Read more

Medicare has coverage gaps despite congressional effort to expand it

peak | iStock | Getty Images If Democratic lawmakers get what they want, Medicare will begin covering hearing services for the first time in the program’s history. The coverage, which will take effect in 2023, is included in Democrats’ proposed $1.85 trillion spending bill, called the Building Back Better Act and intended in part to … Read more

What a new plan in Congress would mean for benefits

zimetos | iStock | Getty Images House Democrats are reintroducing a Social Security reform bill popular with their party. This time, it features some changes aimed at attracting more support from Republicans. The bill, known as Social Security Act 2100, was introduced by Representative John Larson, Democrat of Connection, chair of the House Social Security … Read more

6 reasons why Americans aren’t returning to work

A “Hire Now” sign outside a store on August 16, 2021 in Arlington, Virginia. OLIVIER DOULIERY | AFP | Getty Images On the surface, the conditions may seem favorable for the boom of the labor market in the United States. There are still 5 million fewer jobs than before the pandemic, but job opportunities are … Read more

People will get bigger Social Security checks in 2022. How to prepare

Valerie Macon | AFP | Getty Images People who collect Social Security are about to see bigger checks. The Social Security Administration said Wednesday that the cost-of-living adjustment in 2022 would be 5.9%. The bump, which will help recipients keep up with rising costs due to inflation, is the largest increase in nearly 40 years. … Read more