Congress continues debating the fairness of the WEP and GPO rules, which reduce Social Security benefits for certain public-sector retirees. Reform advocates seek relief for those affected by decades-old provisions.
Rising healthcare costs are among retirees’ biggest financial concerns. Planning for Medicare, supplemental insurance, and potential long-term care needs is essential to maintaining financial security in later life.
Employers are increasingly shifting from traditional defined benefit pensions to defined contribution plans like 401(k)s. This change transfers investment responsibility and retirement risk from employers to employees.
Retirees face tough choices between Medicare Advantage and traditional Medicare. While Advantage plans offer extra benefits, traditional coverage provides broader access and predictable costs for long-term healthcare needs.
New prescription drug price reforms aim to reduce medication costs for seniors. The changes may significantly lower out-of-pocket spending under Medicare Part D and improve affordability for retirees.
The Secure 2.0 Act raised the age for RMDs and adjusted penalties for missed withdrawals. These updates give retirees greater flexibility in managing retirement income and tax planning.
Efforts to expand Medicare to include dental, vision, and hearing benefits are gaining momentum. These changes could enhance seniors’ overall health and reduce out-of-pocket medical expenses.
