Money, Wealth & Power—A Daily Look at the Financial World
Social Security, Medicare, Medicaid and SNAP news: payment dates, rule changes, premiums and the deadlines that affect your benefits.
For anyone whose full retirement age is 67, starting Social Security retirement benefits at 62 lowers the monthly payment by 30%. The Social Security Administration’s own example shows a $1,000 benefit shrinking to $700. Age 67 is the full retirement age for people born in 1960 or later, so the first group to reach it…
Medicare’s annual limit on out-of-pocket spending for covered prescription drugs will rise from $2,100 in 2026 to $2,400 in 2027, and the highest deductible a Part D plan may charge will climb from $615 to $700. Both figures are now final and appear in federal Medicare documents as plans finish publishing their 2027 terms. The…
The average monthly premium for a Medicare Advantage plan is projected to fall from $14.37 this year to $12.00 in 2027, a decline of 16.5%, according to figures the Centers for Medicare & Medicaid Services released on September 28. The agency expects stand-alone Part D drug plans to move the other way, edging up by…
A retirement claim may be withdrawn within 12 months, but the decision requires repayment and is generally available only once.
SNAP households with an older or disabled member may deduct qualifying unreimbursed medical costs above $35 a month.
Delaying the first required minimum distribution until April can place two taxable withdrawals in the following calendar year.
The federal Medigap open-enrollment window lasts six months and generally does not repeat every year like Medicare’s fall enrollment period.
The 2026 Part B late-enrollment penalty can turn a two-year delay into a recurring monthly surcharge unless a Special Enrollment Period applies.
Working before full retirement age can temporarily reduce Social Security checks once 2026 earnings cross the applicable limit.
Medicare’s 2026 Extra Help limits are higher than many people expect, and qualifying can reduce Part D premiums, deductibles and prescription costs.
How the week's news hits your wallet
One Washington money change, translated every weekday — what it means for your wallet.