Social Security payment this week
In another bold executive action, President Donald Trump has authorized a broad freeze on $3 trillion in federal funds until his administration completes a full spending review. According to a two-page memo from Acting Director of the Office of Management and Budget Matthew J.
The White House rescinded a pause on all Federal grants and loans, but the short-lived action shined a light on what could come in the future.
Unclear if sweeping executive order will affect Medicaid and other federal assistance programs for older Americans.
President Donald Trump's recent freeze on federal grants and loans has sparked concerns about how it might affect key social programs, particularly Social Security. But will retire
White House press secretary Karoline Leavitt said that Social Security, Medicare and food stamps would not be affected by the decision to freeze federal aid. NBC News’ Sahil Kapur reports on the Trump administration’s first White House press briefing and whether Medicaid could be among the programs affected.
Investopedia spoke with Isabel Barrow at Edelman Financial Engines to discuss the changes the new Social Security Fairness Law will bring and the impact it could have on retirees.
If passed, new legislation would allow disabled Americans to marry without losing Supplemental Security Income (SSI) benefits.
Individuals living with ALS are automatically eligible for Medicare when they start receiving Social Security benefits. Medicare should cover most diagnostics and treatments, but this depends on the type of service and whether it is deemed medically necessary.
For retirees, healthcare expenses are unavoidable and increasingly unaffordable. Fidelity Research says a 65-year-old retiring in 2024 can expect to spend an average of $165,000 on healthcare and medical expenses throughout retirement — a 5% jump over the previous year and more than double 2002’s estimate.
But actually, Medicare eligibility doesn't usually begin until age 65 (there can be exceptions for people with certain medical conditions). So if your plan is to retire at 62 and sign up for Social Security and Medicare at the same time, you'll need to rethink it.
President Donald Trump’s pause on federal grants and loans has agencies and individuals scrambling as the fallout continues.