Temporary Medicaid Blackout Yesterday, President Trump’s administration announced a freeze on federal grants and loans to assess their alignment with the administration’s priorities. Although Social Security, Medicare, and Medicaid were supposed to be exempt, the freeze (caused by an inadvertent server “outage” according to the Trump administration) temporarily affected Medicaid payment portals, causing great concern […]
2025 Key Elder Law Numbers
When Walt Disney said, “Times and conditions change so rapidly that we must keep our aim constantly focused on the future,” his words referenced how inevitable change is, how quickly it can occur, and how we must continuously look to the future. The meaning behind this quote and the ever-changing world in which we live […]
How Could Someone Qualify for the Maximum Social Security Benefit?
Dear Hayek, In doing some research, I saw that the maximum Social Security amount, with the 2.5 percent cost of living increase in 2025, is $5,108 a month. What would someone need to do to qualify for this amount? Thanks for your help! Mo Monee — Dear Mo, Recently, the Social Security Administration set its […]
Nine Important Retirement Factors to Consider and the Most Important One That Gets Overlooked
The retirement wave (aka silver tsunami) is here. A whopping 4 million Americans are expected to turn 65 every year for the next four years. That means approximately 11,200 Americans who will turn 65 every day through 2028, up from 10,000 per day over the past decade! The average retirement age in the US is […]
Social Security Administration Issues Final Rule to Simplify Disability Evaluation Process
The Social Security Administration offers two programs that provide financial assistance to seniors and other persons living with disabilities: Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI). SSI determination is based on age/disability and limited income and resources, while SSDI is based on disability and work credits. Last year, more than 1.8 million […]
Our Top 23 Articles of 2023
Happy New Year! As our loyal readers know, we’ve covered a lot of ground in 2023. From incredible technological advances involving artificial intelligence to new diagnostic methods and treatments for Alzheimer’s and Parkinson’s, technology continues to have a major impact on our lives. In addition, inflation continues to play a major role in the confidence […]
Can I Get a “Do-Over” When it Comes to Taking Social Security Benefits Too Early?
Dear Raider, I messed up and took my Social Security benefits too early. I realize my costly mistake and am wondering if there is such a thing as a mulligan or a “do-over” when it comes to Social Security benefits, and what my options would be? Thanks for your help, Mulla Ginn — Dear Mulla, […]
2024 Key Elder Law Numbers
When Bob Dylan said, “The times they are a-changin’,” his lyrics referenced societal changes in the 1960s. The same lyrics could also apply to Medicare, Medicaid, and Social Security today. Every year, the Farr Law Firm releases the newest figures for Medicaid, Medicare, and Social Security, and an analysis of important developments, statuses, and updates […]
Why Should Gen Z’s and Millennials Care about Social Security?
Dear Oakley, I was born in 1997 and am therefore considered Gen Z. My wife, who is two years older and a millennial, and I are many decades away from retirement. When it comes to my generation and my wife’s, why should we be at all concerned with Social Security when it will probably never […]
Social Security Scams Are Linked to New Higher COLA
Dear Angel, It’s 2023, and with the new year comes a new higher cost-of-living adjustment. I can’t say that I am not excited about that. Unfortunately, I heard that there are some scammers out there trying to get their hands on the bit of extra money seniors will be receiving each month. Have you heard […]
2023 Key Elder Law Numbers
Every year, the Farr Law Firm releases the newest figures for Medicaid, Medicare, and Social Security. Below are figures for 2023 that are frequently used in the Elder Law practice, including the figures for spousal impoverishment, penalty divisors, and more, for Virginia, Maryland, and DC. Medicare premiums and co-pays, Social Security Disability, and Supplemental Security […]
Good News! Social Security and Medicare Outlook Is Better Than Projected Last Year
Q. Inflation seems to be having a huge effect on everything. From the price of food in grocery stores to the amount we are spending to fill our cars with gasoline, we’re all being affected in many ways. I’m concerned and afraid to ask about senior programs, since it seems like everything else is being […]
How to Live Comfortably Off Just a Social Security Check During Inflation
Dear Angel, My mother is considering whether to take Social Security or to delay doing so, and if she does, she hopes to be able to live comfortably off it during inflation. Is this even possible and if so, how? Thanks for your help! Liv Inoffit-Alonn — Dear Liv, Currently, nearly a quarter of seniors […]
What Can I Expect from Social Security in 2022?
Dear Oakley, Happy New Year! I remember reading that the Social Security Cost of Living Adjustment was at a record high for 2022. Are there any other important things I should know about Social Security this year? Thanks for your help! Cole Ahh — Dear Cole, You are correct that in 2022, seniors will experience […]
2022 Key Elder Law Dollar Amounts
Q. Every year, the Farr Law Firm releases the newest figures for Medicaid, Medicare, and Social Security. I was wondering if they are available this year and if you can provide a summary of changes for these programs. Thanks for your help! A. Thank you for inquiring about the key elder law dollar amounts for […]
What Changed With the Social Security Statement?
Dear Hayek, I heard that the Social Security Benefits Statement has undergone a visual overhaul. What can I expect to see on the newly designed statement? Will the new format be mailed to current and former beneficiaries or only available online? Thanks for your help! Dee Zine — Dear Dee, You are correct. The Social […]
What the New Outlook for Social Security and Medicare Means for You
Each year the Trustees of the Social Security and Medicare trust funds report on the current and projected financial status of the two programs. The new 2021 annual report was just released and on a positive note, the pandemic has had a smaller impact on the Social Security trust funds than many feared. The 2021 trustee […]
Some Major Changes are Coming to Social Security this Year
Q. I read that the retirement age for Social Security purposes is set to increase by two months each year until it hits 67? I heard this is one of many significant changes to Social Security this year. What other major changes can we expect in 2021? Thanks so much for your help! A. 2021 […]
How do Medicare and Social Security Work Together?
Dear Oakley, My husband will soon be retiring and is curious about Social Security and Medicare and how the two programs work together. Can you help explain this to him? Thanks for your help! Tu Gether — Dear Tu, Social Security and Medicare are both federal programs designed to assist older Americans and distribute benefits […]
What is the Social Security Cost of Living Adjustment for 2021?
Dear Oakley, What is the Social Security Cost of Living Adjustment for 2021, and how is COLA calculated? Thanks so much! Maura Monney — Dear Maura, The Social Security Administration announced this week that the cost-of-living adjustment (COLA) for benefits in 2021 will be 1.3%. For the average retirement benefit, that amounts to just a […]
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