Tag: Social Security

How the 2.5% Social Security Increase Impacts Retirees

H. Cutner
Social Security Increase

Social Security’s Cost-of-Living Adjustments: What Do the Numbers Tell Us? The Cost-of-Living Adjustment (COLA) for Social Security is an essential mechanism designed to ensure that benefits keep pace with inflation. Over the past decade, these adjustments have varied significantly, reflecting the economic climate and inflation rates. Notably, in 2023, beneficiaries experienced an 8.7% increase, the largest in nearly 40 years, driven by soaring inflation. In contrast, the 2024 adjustment was more subdued at 3.2%. Historically, the COLA has averaged around 2.6% over the last 20 years, indicating that this year’s…

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Disability insurance fraud detection may soon include your social media posts

Logan B.
Disability insurance fraud - Frisbee throwing

Federal disability payment recipients may want to watch what they share on Facebook and Twitter. Disability insurance fraud detection efforts may soon include the right to view what payment recipients are posting on social media. Efforts by the Trump administration have been silently underway to make this access legally possible. The Trump administration’s efforts would allow the access and use of social media posts to aid in their efforts to detect disability insurance fraud. This would mean that people collecting Social Security disability benefits may have their Facebook, Twitter, Instagram…

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Disability Insurance – A Dying Breed

Loreen
disability insurance

When you think of disability insurance, you may automatically think about the benefits some receive through the Social Security program. This is run through the government. Everyone pays in, and someone who becomes disabled can then receive money each month. This program has saved many families from financial ruin, but the amount you can receive each month is not a lot. Families need more protection. Did you know there are other policies you can buy on your own in the event you are in a terrible accident or if you…

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Social security’s disability program is almost broke

Julie Campbell

Aging baby boomers and unemployed workers have swamped the Social Security disability program with claims for benefits, which has sent the system – which was already facing a financial struggle – to the point of near insolvency. Since ten years ago, applications have increased by almost 50 percent, as individuals with disabilities are laid off and cannot find employment within an economy that has dropped almost 7 million jobs. The flood of benefits claims has created an increasing applicant backlog – many of whom must wait two years before their…

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