SOCIAL SECURITY 2018
Social Security & Medicaid Facts | Retirement Planning Social Security Impersonation Schemes | Divorce & Social Security An advertising supplement of the Lewiston Tribune and Moscow-Pullman Daily News
S e p t e m b er 16, 2018
S O C I A L SECU RI T Y
Retirement planning starts with Social Security
Jim Borland, Acting Deputy Commissioner for Communications | www.ssa.gov
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ight now is the perfect time to start planning for a secure, comfortable retirement. And you can count on Social Security to help you begin the process.
• Contribute to pension plans offered by your employers; • Maintain and grow savings accounts; and
First, we encourage you to set up an online my Social • Open and regularly contribute to an individual Security account so you can verify your lifetime earnings retirement fund. record and make sure you get credit for all of your These steps — combined with your Social Security contributions to the Social Security system through the benefits — will go a long way toward ensuring a Federal Insurance Contributions Act (FICA) payroll taxes. If comfortable quality of life for you and your loved ones in you haven’t set up your personal the future. my Social Security account As you plan for a financially yet, you can do so at www. secure future, please keep in mind socialsecurity.gov/myaccount. that our Retirement Estimator and Then, you can use your benefit calculators provide you with earnings history and our online estimates — not guarantees. We retirement estimators and can’t provide your actual benefit calculators to get a glimpse amount until you apply for benefits. of what your Social Security Our estimates may differ from retirement future looks like. your actual benefit amount if You’ll find important details your future earnings increase or such as your retirement age, life decrease, if laws governing benefit expectancy, and estimates of amounts change, if you’ve served in the military, or if how much you may receive in future retirement benefits you’ve had jobs in which you did not pay Social Security from Social Security. taxes. As you look ahead to ensuring a secure, comfortable Social Security is with you throughout life’s journey, future for you and your family, it’s important to keep in from your first paycheck to receiving your first retirement mind that Social Security replaces about 40 percent deposit in your bank account. And, as our nation’s of your pre-retirement income, on average. So, a most successful anti-poverty program, we’ll continue to responsible retirement plan includes planning for more provide you and millions of other Americans with financial than Social Security. protections to ensure a secure tomorrow. Here are some more things you can do now to build To learn more, visit www.socialsecurity.gov. your financial security:
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Your retirement checklist
Jim Borland, Acting Deputy Commissioner for Communications | www.ssa.gov
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ith every change of season, there’s usually a list of essential items that must be done. If you’re getting your house ready for winter, you are likely getting your furnace serviced among other things. In the same way, we want to make sure you’re checking off items on another important list, your retirement list. A healthy retirement checklist should include the following questions:
you with immediate and personalized estimates based on your own earnings record. It provides the most accurate estimate of your future benefits.
3.Do you have additional retirement income?
— Social Security benefits only replace a percentage of your pre-retirement income based on your lifetime earnings. A healthy retirement plan also includes your savings and perhaps an employer-sponsored retirement 1.Did you verify your earnings? plan or 401(k), especially if your employer offers matching — With a mySocial Security account, you can view your funds on what you invest. If your employer doesn’t offer earnings history, confirm you have enough work credits to this type of plan, there are many other plans to help retire, and see estimates of what your benefits will be. you save for retirement, such as solo 401(k)s as well as 2.Do you know how much your benefit will be? traditional and Roth IRAs. — Our Retirement Estimatoris a great tool that provides
Visit www.ssa.gov today for more information.
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‘Whaddya say?!’
Dr. Anne Simon, Audiologist | Simon Audiology & Tinnitus
How to make your next ‘night-out’ a more enjoyable conversation experience
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ach patient who comes into my practice has different hearing goals. One of the most common is they want to be able to enjoy visiting with friends and loved ones when they dine out. As a person with normal hearing, I often share with them that restaurants can be a listening challenge for me as well. Much of the noise in restaurants is lower pitch, so we raise the volume of our voice to be heard. At the same time, most hearing loss is in the higher pitches causing difficulty understanding soft consonant sounds (‘s’, ‘f’,
‘th’). Many restaurants also arrange their space so that the ambient noise is louder: high ceilings, large rooms, constant TV and/or music. Louder restaurants draw people in. The noise gives the sense that the atmosphere is more lively, fun, energetic. Improved communication in a restaurant can be achieved with an awareness of the environment, and management of the situation. The following tips will be useful to you whether you have hearing loss or normal hearing.
Are you dining with someone who has hearing loss? Speaking to someone with hearing loss requires some attention to detail. These tips will enhance the communication experience. 1.Make sure your communication partner is ready to listen. Say their name. Look them in the eye. Use hand gestures to attract their attention. 2.During the conversation, maintain eye contact. This will signal to your companion to stay engaged. 3.Keep your hands and other objects away from your face while speaking. My grandmother used to cover her mouth with her hand during conversation because she was selfconscious about how her teeth looked. None of us could understand what she was saying. 4.Speak naturally, rather than quickly. Short pauses between phrases are amazingly helpful. 5.If the listener doesn’t understand what was just said, rephrase rather than repeat. 6.If the topic is important, check in to determine if your companion heard you. If you are seeing lots of nods, but little verbal response, it is possible that your companion is not understanding what is being said.
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Choose restaurants that have softer surfaces. Rooms with carpeting, table cloths, softer walls and ceilings will be less reverberant. As an example, the sound booth in my office where I test hearing has no hard surfaces. Be willing to wait and ask for a booth or corner table away from the main entrance and kitchen noise. High back booths can block out some of the noise from the dining room. When it comes to seating arrangement, look for good lighting so that you can see the faces of those you are listening to. Keep your back to the center of the room, so that most of the noise is behind you. With your back to the room, you will also benefit from fewer visual distractions. You also want to sit across from those who you expect to speak the most with or who have the softest voices. It is generally easier to hear those you are facing compared to those who are next to you because you can see their lips and facial expressions. Weather permitting, you can also dine at a table outside.
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If you have difficulty understanding the wait staff, choose what you want to eat before you arrive. Most restaurants have their menu online. You can also dine at off-peak hours. Less people in the restaurant will mean less ambient noise and a more relaxing experience. Eating habits can also help conversation. Avoid talking with food in your mouth. Your mother needled you about that for a very good reason. Try to keep objects away from your mouth while speaking: napkins, hands. Anytime you are communicating in an environment with distraction, you want to treat listening and speaking as an ‘active’ exercise. This means keeping your focus on the sights and sounds of what is most meaningful to you. Hearing loss is a serious, significant health issue. If you know someone is speaking, but have trouble understanding what they are saying, give my office a call at 208-746-7022. I’ve helped many people rediscover how enjoyable conversation can be.
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5 facts you might not know about social security
Jim Borland, Acting Deputy Commissioner for Communications | www.ssa.gov
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ost people know at least something about Social Security. For decades, Social Security has been providing valuable information and tools to help you build financial security. Here’s your opportunity to find out a little more, with some lesser-known facts about Social Security.
1. Social Security pays benefits to children. Social Security pays benefits to unmarried children whose parents are deceased, disabled, or retired. See Benefits for Children for the specific requirements.
2. Social Security can pay benefits to parents. Most people know that when a worker dies, we can pay benefits to surviving spouses and children. What you may not know is that under certain circumstances, we can pay benefits to a surviving parent. Read our Fact Sheet Parent’s Benefits, for the details.
3. Widows’ and widowers’ payments can continue if remarriage occurs after age 60. Remarriage ends survivor’s benefits when it occurs before age 60, but benefits can continue for marriages after age 60.
4. If a spouse draws reduced retirement benefits before starting spouse’s benefits (his or her spouse is younger), the spouse will not receive 50 percent of the worker’s benefit amount. Your full spouse’s benefit could be up to 50 percent of your spouse’s full retirement age amount if you are full retirement age when you take it. If you qualify for your own retirement benefit and a spouse’s benefit, we always pay your own benefit first. (For example, you are eligible for
$400 from your own retirement and $150 as a spouse for a total of $550.) The reduction rates for retirement and spouses benefits are different. If your spouse is younger, you cannot receive benefits unless he or she is receiving benefits (except for divorced spouses). If you took your reduced retirement first while waiting for your spouse to reach retirement age, when you add spouse’s benefits later, your own retirement portion remains reduced which causes the total retirement and spouses benefit together to total less than 50 percent of the worker’s amount. You can find out more on our website.
5. If your spouse’s retirement benefit is higher than your retirement benefit, and he or she chooses to take reduced benefits and dies first, your survivor benefit will be reduced, but may be higher than what your spouse received. If the deceased worker started receiving reduced retirement benefits before their full retirement age, a special rule called the retirement insurance benefit limit may apply to the surviving spouse. The retirement insurance benefit limit is the maximum survivor benefit you may receive. Generally, the limit is the higher of: The reduced monthly retirement benefit to which the deceased spouse would have been entitled if they had lived, or 82.5 percent of the unreduced deceased spouse’s monthly benefit if they had started receiving benefits at their full retirement age (rather than choosing to receive a reduced retirement benefit early). Social Security helps secure your financial future by providing the facts you need to make life’s important decisions.
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Social Security payment can grow after retirement Jim Borland, Acting Deputy Commissioner for Communications | www.ssa.gov
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ou made the choice and now you are happily retired. You filed online for your Social Security benefits. They arrive each month in the correct amount exactly as expected. But, did you ever wonder if your Social Security check could increase? Once you begin receiving benefits, there are three common ways benefit checks can increase: a cost of living adjustment (COLA); additional work; or an adjustment at full retirement age if you received reduced benefits and exceeded the earnings limit.
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The COLA is the most commonly known increase for Social Security payments. We annually announce a COLA, and there’s usually an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month. By law, federal benefit rates increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index (CPIW). More than 66 million Americans saw a 2.0 percent increase in their Social Security and SSI benefits in 2018. continued on page 9
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S O C I A L SECU RI T Y
5 more facts you might not know about social security
Jim Borland, Acting Deputy Commissioner for Communications | www.ssa.gov
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hat kind of questions do you and your friends ask about Social Security? When do my benefits arrive? What are Social Security work credits, and do they have anything to do with the way my benefits are figured? Will I be automatically enrolled in Medicare? Read on to find the answers to these questions.
the Benefits publication for an explanation of the amounts family members receive.
4. Work credits determine eligibility for benefits, but your lifetime earnings are used to calculate your monthly benefit amount. Retired workers need 40 work credits to be eligible for
1. Social Security benefits are paid in the month benefits, but your work credits alone do not determine following the month for which they are due. how much you will receive each month. When we figure When you meet all the requirements for eligibility, the benefit check you receive is payment for the prior month’s benefits. For information on the payment of benefits, you can read our pamphlet, What You Need to Know When You Get Retirement or Survivors Benefits. To know when checks will be paid, you can save the Schedule of Social Security Benefit Payments to your “Favorites” or print it.
2. We don’t pay benefits for the month of death. Social Security uses the same throughout-the-month rule to determine eligibility for the benefit that is due for the month of death. You must live through the full month to be eligible for the payment. See the pamphlet above in the section titled If a beneficiary dies for more information about when a check is due.
3. Survivors benefits can replace a percentage of the worker’s earnings for family members. The eligible family members of a retired or disabled beneficiary may receive a monthly payment of up to 50 percent of beneficiary’s amount. Survivors benefits usually range from about 75 percent to 100 percent of the deceased worker’s amount. Visit our Understanding
your retirement benefit, we use the average of your highest 35 years of earnings. See Your Retirement Benefit: How It Is Figured for more information.
5. If you receive retirement benefits before you reach age 65, you will be automatically enrolled in Medicare. Medicare Part A (hospital insurance) helps pay for inpatient care in a hospital or skilled nursing facility following a hospital stay. It also pays for some home health care and hospice care. Medicare Part B (medical insurance) helps pay for services from doctors and other health care providers, outpatient care, home health care, durable medical equipment, and some preventative services. When you’re already receiving retirement benefits, we automatically sign you up for Medicare Parts A and B when you turn age 65. You can then decline Part B if you choose, since it requires a monthly premium. If you are not receiving retirement benefits as you approach age 65, you should contact Social Security three months before age 65 to sign up for Medicare Part A and B. Even if you don’t want to retire at 65, you should sign up for Medicare only. For more details, check out our Medicare page.
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For more information on the 2018 COLA, visit ssa. gov/cola. Social Security uses your highest thirty-five years of earnings to figure your benefit amount when you sign up for benefits. If you work after you begin receiving benefits, your additional earnings may increase your payment. If you had fewer than 35 years of earnings when we figured your benefit, you will replace a zero earnings year with new earnings. If you had 35 years or more, we will check to see if your new year of earnings is higher than the lowest of the 35 years (after considering indexing). We check additional earnings each year you work while receiving Social Security. If an increase is due, we send a notice and pay a one-time check for the increase and your continuing payment will be higher.
We invite you to schedule a complimentary consultation by calling (208) 882-5547 or (509) 339-6368.
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Maybe you chose to receive reduced Social Security retirement benefits while continuing to work. You made the choice to take benefits early, but at a reduced rate. If you exceeded the allowable earnings limit and had some of your benefits withheld, we will adjust your benefit once you reach full retirement age. We will refigure your payment to credit you for any months you did not receive payments. Your monthly benefit will increase based on the crediting months you receive. You can find additional information about working and your benefit by reading What You Need to Know When You Get Retirement or Survivors Benefits. Retirement just got more interesting since you learned about potential increases to monthly payments. Social Security has been securing your today and tomorrow for more than 80 years with information and tools to help you achieve a successful retirement.
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Retirement questions about social security
Suze Orman, Personal Finance Expert | www.ssa.gov
There are two big questions I hear plenty.
1. My husband wants to retire at 62 and start taking Social Security. Is that okay? This typically comes up because husbands are often a few years older than their wives, and figure they want to “get their money’s worth” by taking Social Security as early as possible. I Suze Orman, think that can be a bad move. Personal Finance Expert Unless you have oodles of money to live on in retirement, you — as a couple — want to maximize your Social Security payout for the longest surviving spouse. It’s important to understand that when one spouse dies, the other spouse is entitled to just one Social Security payment. So you want the surviving spouse to have the biggest possible benefit. Here’s how: Whichever spouse is the higher earner (and thus eligible for a bigger Social Security benefit) should delay taking Social Security at least until their Full Retirement Age (FRA), which is between age 66 and 67, depending on the year you were born. Your FRA benefit is 25 to 30 percent higher than the benefit you can get at age 62. Even better is to have the high earner wait all the way until age 70. The benefit if you start then is more than 65 percent higher than the benefit you are entitled to at age 62. While the high-earner should wait as long as possible, the other spouse can start earlier, but I always encourage both spouses to delay as
long as possible.
2. I am getting divorced and haven’t worked full time. Am I going to be able to get Social Security? If you were married at least 10 years you will be eligible for Social Security based on your ex-spouse’s earnings record. Your receiving a benefit will have no impact on the benefit your ex is eligible for. There are a few caveats to understand about how this works. Most important, you can’t make a claim on an exspouse’s record if you remarry. (It doesn’t matter if your ex remarried.) You also need to be at least 62 years old. You can learn more about that here. SSA does not endorse any particular financial advisory product or service.
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Cruising tips and tricks
MetroCreative
A
cruise can be an ideal vacation for seniors who have the time to get away.
Whether a person is new to cruising or is a seasoned ocean or river traveler, there are always techniques to try to score great deals or enjoy the experience even further. Consider these tips and tricks, courtesy of Royal Caribbean, The Cruise Critic, the Travel Channel, and other vacationing experts.
Cruising can be an ideal vacation for people of any age, but particularly for seniors. Cruises combine all-inclusive meal packages with accommodations, breathtaking ports of call and pre-arranged activities, so vacationers do not have to lift a finger for days on end. Cruising also can be a social activity, meaning singletons can meet up with other likeminded people and enjoy the cruising experience together.
· Research the ships, and not just the cruise lines. Cruise lines each offer their own amenities and are known for certain features. One cruise line may be a better match for young singles, while others may cater to families. In addition, certain ships may have their own special features such as water slides, athletic events, casinos, and more. Choose a ship that meets your needs.
Cruise Lines International Association, a global organization advocating for the cruising community, found that 25.8 million passengers expected to take a cruise in 2017, and various cruise companies invested more than $6.8 billion in new ocean vessels.
continued on page 13
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A warning about ssa impersonation schemes
Andrew Cannarsa, OIG Communications Director | www.ssa.gov
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he Acting Inspector General of Social Security, Gale Stallworth Stone, is warning citizens about ongoing Social Security Administration (SSA) impersonation schemes. SSA and the Office of the Inspector General (OIG) have recently received several reports of suspicious phone calls claiming to be from SSA. In one case, an automated recording states the person’s Social Security number (SSN) “has been suspended for suspicion of illegal activity,” and the person should contact a provided phone number immediately to resolve the issue. The call concludes by stating if the person does not contact the provided phone number, the person’s assets will be frozen until the alleged issue is resolved. In another case, a caller claims to be from “SSA headquarters” and waits for the person to provide personal information, such as an SSN, address, and date of birth. In January, the OIG shared similar information from the Federal Trade Commission, which reported an increase in reports of suspicious phone calls from people claiming to be SSA employees. SSA employees occasionally contact citizens by
telephone for customer-service purposes. In only a few limited special situations, usually already known to the citizen, an SSA employee may request the citizen confirm personal information over the phone. If a person receives a suspicious call from someone alleging to be from SSA, citizens should report that information to the OIG at 1800-269-0271 or online via https://oig.ssa.gov/report. Acting Inspector General Stone continues to warn citizens to be cautious, and to avoid providing information such as your SSN or bank account numbers to unknown persons over the phone or internet unless you are certain of who is receiving it. “Be aware of suspicious calls from unknown sources, and when in doubt, contact the official entity to verify the legitimacy of the call,” Stone said. If a person has questions about any communication— email, letter, text or phone call—that claims to be from SSA or the OIG, please contact your local Social Security office, or call Social Security’s toll-free customer service number at 1-800-7721213, 7 a.m. to 7 p.m., Monday through Friday, to verify its legitimacy. (Those who are deaf or hard-of-hearing can call Social Security’s TTY number at 1-800-325-0778.)
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similar version elsewhere on the ship.
continued from page 11
¡ Arrive the night before. There’s no need to rush to the port to board the ship. Extend the vacation a little further by arriving a night or two before and checking into a nearby hotel. Some hotels may offer free parking or shuttle service to the ship.
¡ Explore special discounts. When shopping for a cruise, see if there are discounts available for seniors, teachers, people in the military, or those who belong to certain clubs. Cruises often love to incentivize, so it pays to ask about discount pricing.
¡ Choose a close port. Select a port within driving distance to avoid airline costs and the extra hassles of coordinating luggage and travel to the port.
¡ Make a list of activities. It can be easy to get overwhelmed by all of the offerings on a cruise ship, so much so that there’s some stress over trying to fit it all in. Recognize that you can’t see or hear it all, and prioritize what’s important to you. Make sure you have plenty of time to relax.
¡ Book dining ahead of time. Cruise ships often have a main dining room and then specialty restaurants. If you want a particular meal, make reservations before leaving port. Certain restaurants may offer discounts or perks, such as a free bottle of wine or premiere seating. ¡ Understand what’s included. Cruise ships have many foods and drinks that are included in the packaged price. Certain branded items, such as specialty coffees or ice creams, may be available at an additional charge, as are premium drinks. But chances are you can find a free,
¡ Book at the right time. Cruises may be more available after Labor Day when kids go back to school and the weeks between Thanksgiving and Christmas when others are too busy to travel. Cruising can be an ideal vacation for travelers who are savvy enough to do their research.
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Medicaid Facts
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act: Many People who require nursing home care cannot afford to pay the costs.
Because of the high costs, a high percentage of residents that live in nursing homes rely on Medicaid to pay for their care. Today, an estimated four percent of the over 65 age population lives in a nursing home. As the proportion of the older people increases due to longer life expectancies, it is likely that more and more people will need nursing home care.
What is Medicaid? By definition, Medicaid is a jointly funded program managed by both state and federal governments. Medicaid offers medical treatment, including nursing home care for low-income individuals who are 65 or older, blind or disabled. The rules for qualifying for Medicaid change often and vary state to state and from country to country. Medicaid is not considered an entitlement program like Social
Security; rather it is a needs-based program. Because it is based on the need, a person is not eligible to receive Medicaid benefits as a matter of right. Each person must make himself or herself eligible. As a component of qualifying for Medicaid, a person must have limited assets. To limit assets, a person may be required to “spend down” his or her assets to a level as determined by the appropriate regulatory agency in his or her area. The concept of “spending down” is simple. Essentially, the Medicaid agencies will provide funding for nursing home care only once a person’s assets have been reduced to the specified limits.
Fact: There are several methods to “spend down” assets, one of which is to prepay funeral expenses. If a person’s assets exceed the specified limits, then
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he or she may have to use his or her own assets to pay for his or her care in a nursing home. There are several methods to “spend down� assets, one of which is to prepay funeral or cremation expenses. Most agencies will exclude a prepaid funeral plan (within limits) when determining eligibility for assistance.
Medicaid Eligibility The qualifications for Medicaid eligibility vary from state to state and from country to country. An attorney who understands Medicaid should be contacted before attempting to qualify for Medicaid coverage. In order to qualify, you typically need to meet the following requirements:
income • Meet the income cap – the applicant cannot make more than $1,656 (2003) per month in income • Have limited assets (usually less than $2,000, excluding home). Special rules may also cover an applicant’s assets and how they were used up to five years before an application to Medicaid is made. Examples of assets are as follows: • Checking/Savings Accounts • Mutual Funds • Stocks/Bonds
• Be a U.S. citizen living in the U.S.
• Deferred Annuities
• Be over 65, disabled or blind
• Cash value of most life insurance policies
• Have a “medical necessityâ€? requiring skilled nursing care
• Revocable living trusts
• Medical and nursing home expenses exceed
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• 401K/IRA/Keoghs • Burial Trusts beyond a minimum amount
^Ĺ˝Ä?Ĺ?Ä‚ĹŻ ^ÄžÄ?ĆľĆŒĹ?ƚLJ Ç Ĺ˝ĹśÍ›Ćš Ä?Ĺ˝Ç€ÄžĆŒ ÄžÇ€ÄžĆŒÇ‡ĆšĹšĹ?ĹśĹ?͘
Ĺ˝ LJŽƾ ŚĂǀĞ Ä‚ ƉůĂŜÍ? When it comes to funeral costs, Social Security pays very little, leaving your family with unexpected payments. Pre-planning provides you with the time needed to make practical, detailed decisions that reflect your standards, lifestyle, taste and budget. We can advise you of the total cost, and the funds you set aside today can help your family in the future.
Mountain View Funeral Home & Crematory Merchant Funeral Home Richardson-Brown Funeral Home Lewis Clark Memorial Gardens
For more information visit www.merchantmemorialgroup.com ,B
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S e p t e m b er 16, 2018
S O C I A L SECU RI T Y