50+ Lifestyles

Your Social Security

by Randoe Dice

Social Security District Manager, Davenport Iowa

Chubby Checker and Social Security Commissioner Astrue Announce a New “Twist” in the Law

Changes Make it Easier to Qualify for Extra Help with Medicare Prescription Drug Plan Costs

Michael J. Astrue, Commissioner of Social Security, and Chubby Checker, Grammy Award winner and rock and roll legend, today launched a new campaign to inform millions of Americans about a new “twist” in the law that makes it easier to qualify for extra help with Medicare prescription drug costs. The extra help program currently provides assistance to more than nine million senior and disabled Americans — saving them an average of almost $4,000 a year on their Medicare prescription drug plan costs. To apply for extra help, there is an easy-to-use online application available at www.socialsecurity.gov.

“The changes in the Medicare law that take effect this month will allow hundreds of thousands of Americans who are struggling to pay their prescription drug costs to get extra help during these tough economic times,” said Commissioner Astrue. “I am thrilled that Chubby Checker has volunteered to help us spread this important message through a new television, radio, and Internet spot as well as pamphlets and posters.”

“Listen up, America! For 50 years, people of all ages and backgrounds have danced the Twist,” Chubby Checker said. “Now it’s important everyone learn about this new twist in the law. Check it out at www.socialsecurity.gov.”

To qualify for extra help, people must meet certain resource and income limits. The new Medicare law eases those requirements in two ways. First, it eliminates the cash value of life insurance from counting as a resource. Second, it eliminates the assistance people receive from others to pay for household expenses, such as food, rent, mortgage or utilities, from counting as income. There also is another important “twist” in the law. The application for extra help can now start the application process for Medicare Savings Programs — state programs that provide help with other Medicare costs. These programs help pay Medicare Part B (medical insurance) premiums. For some people, the Medicare Savings Programs also pay Medicare Part A (hospital insurance) premiums, if any, and Part A and B deductibles and co-payments.

To learn more about the extra help program and to view the new TV spot featuring Chubby Checker, go to www.socialsecurity.gov/extrahelp.

A NEW YEAR’S RESOLUTION TO KEEP

Many Americans begin each new year with a list of resolutions and goals. You may want to go on a diet, shed a little weight, do a bit more exercising, or clean out the long-neglected attic. The trouble is these well-intended goals often melt away long before winter’s snow does.

So why not make a resolution that’s easier to keep? If applying for retirement benefits is on your list of things to do this year, resolve to do it online. To get started, visit www.socialsecurity.gov/applyonline.

As we enter 2010, visiting a Social Security office to apply for benefits is no longer necessary. You’ll save time, energy, and resources by filing your application from the comfort and convenience of your home or office computer. In fact, it can take as little as 15 minutes to complete your retirement application. How’s that for an easy resolution to keep?

Of course, not everyone is ready to retire. So here is another resolution that is easy to keep. If you’re only dreaming of retirement now, why not turn those daydreams into concrete plans for your future retirement goals? Just use our online Retirement Estimator. Plug in some basic information and you’ll instantly get a personalized estimate of your future retirement benefits. It’s another easy resolution to keep and will take only a few minutes. Try it out now at www.socialsecurity.gov/estimator.

Whether you’re already getting Social Security retirement benefits or just beginning to work, Social Security offers a number of services and a wealth of information online at www.socialsecurity.gov. For a specific list of online services available, visit www.socialsecurity.gov/onlineservices.

So as we enter the new decade, make a resolution to set goals you can keep. Apply online for Social Security benefits or plan your retirement at www.socialsecurity.gov.

Now, if only you could get your diet plan or exercise regimen to work in as little as 15 minutes.

BEEN THINKING ABOUT MEDICARE PART B?

If you are covered under Medicare Part A, but originally opted not to apply for Medicare Part B, now’s your opportunity to enroll in Part B. The general enrollment period runs from January 1 through March 31.

But first, you may be wondering: what are Parts A and B? And why would someone get one and not the other? Here are the nuts and bolts.

Medicare Part A (hospital insurance) helps pay for inpatient care in a hospital or skilled nursing facility following a hospital stay, some home health care, and hospice care.

Medicare Part B (medical insurance) helps pay for doctors’ services and many other medical services and supplies not covered by hospital insurance.

When you first become eligible to apply for Medicare Part A, you also have the option of enrolling in Part B for a monthly premium. Some people decide not to because they do not want to pay the premium or for other reasons. But you may discover that as your medical needs change, it is to your advantage to enroll. That’s where enrollment periods come into play.

When you first become eligible for Part A, you have a seven-month period (your initial enrollment period) in which to sign up for Part B. After the initial enrollment period, you can only sign up during a later year’s general enrollment period.

Each year, the Medicare general enrollment period runs January 1 through March 31. Your coverage begins the following July. But keep in mind that, for most people, the monthly premium increases 10 percent for each 12-month period you were eligible for, but did not enroll in, Medicare Part B.

So if you are covered under Medicare Part A and you’ve been thinking about applying for Part B, now is the time to act. Learn more about Medicare by reading Social Security’s publication on the subject at www.socialsecurity.gov/pubs/10043.html. You also can learn a lot about Medicare by visiting www.socialsecurity.gov and selecting “Medicare” at the top of the page on the right side.

Or visit Medicare’s website at www.medicare.gov.

SOCIAL SECURITY CAN BENEFIT SURVIVING HUSBANDS OR WIVES (AND KIDS)

At the start of a new year, many folks like to take stock of their situation in life — work, health, finances, etc. But most of us avoid doing much thinking about death — or what it might mean for surviving loved ones. Still, wouldn’t you feel better knowing that, if you were no longer living, your family wouldn’t have to depend only on any life insurance or savings you might have? Of course you would. So here are some basic facts that may interest you about Social Security survivors insurance.

If you are working and paying into Social Security, some of your Social Security taxes go toward survivors insurance. In fact, for most workers, the value of the survivors insurance under Social Security may be more than the value of any life insurance policy owned.

Who can receive survivors benefits based on your work? Your surviving husband or wife may be able to receive full benefits at his or her full retirement age. They also can choose to take reduced Survivors benefits as early as age 60. And, if your surviving spouse is disabled, benefits can begin as early as age 50.

Your minor children also can receive benefits if they are living with you and depend on you for income — as long as they are under age 18 or disabled. And if your widow or widower is taking care of your child or children under age 16, then she or he may be eligible for benefits at any age.

So, the best life insurance plan may be one you already have but perhaps didn’t know about. Now that you do know, it’s easy to learn more.

For more information on widows, widowers, and other survivors benefits, and to get an idea of just how much those survivors benefits might be, visit www.socialsecurity.gov and select “Survivors” at the top of the page.