Means-Tested Benefits

What Does “Means-Tested Benefits” Mean?

Many public benefits programs are “means-tested.” But what does that mean? Some programs are based on participation in an insurance model. Those include Social Security retirement benefits, Social Security disability benefits, and even survivor’s and children’s benefits. Medicare eligibility is also based on participation in the program (through employment and withholding or quarterly estimated payments).…

2020 COLA

Social Security’s 2020 COLA Increase

Each year the U.S. Social Security Administration calculates an adjustment in the cost of living (COLA). The 2020 COLA increase has now been set at 1.6%. That means that, starting January 1, 2020, a number of changes will cascade through the benefit structure. How will the 2020 COLA increase affect you, or your family member?…