Serving Our Seniors Magazine April - June 2023

The Future for Social Security Retirement Income & Medicare Part A By Sue Daugherty Status of Social Security and Medicare Programs: A Summary of the 2021 Annual Reports, is published by the U.S. government. This 2021 report states Social Security Retirement, “… will be able to pay scheduled benefits on a timely basis until 2033, one year earlier than reported last year. At that time, the fund’s reserves will become depleted and continuing tax income will be sufficient to pay 76 percent of scheduled benefits.” ( www.ssa.gov/oact/TRSUM/tr21summary.pdf ) According to the same document, “The Hospital Insurance (HI) Trust Fund, or Medicare Part A, which helps pay for services such as inpatient hospital care, will be able to pay scheduled benefits until 2026, the same year as reported last year. At that time, the fund’s reserves will become depleted and continuing total program income will be sufficient to pay 91 percent of total scheduled benefit.” ( www.ssa.gov/oact/TRSUM/tr21summary.pdf ) Serving Our Seniors invites you to attend “Understanding the Future of Social Security Retirement Income and Medicare Part A,” April 12, 2023, 10:00 a.m. – 11:30 a.m., BGSU – Firelands College, 1 University Drive, Huron, Ohio inside the Cedar Point Center Building. Seating is limited to the first 500 who register. Contact Serving Our Seniors, 419-624-1856 or e-mail Mail@ServingOurSeniors.org . Leave your name, phone number and the name of this event to register. If it is cancelled, for any reason, you will be notified by phone. As of March 1, 2023, U.S. Congresswoman Marcy Kaptur; Max Richtman, Chair of the National Committee for the Preservation of Social Security and Medicare have agreed to sit on the panel. U.S. Senator Sherrod Brown; U.S. Senator JD Vance; two conservative think-tanks, the American Enterprise Institute and The Heritage Foundation; and AARP Ohio have also been invited. The forum is NOT a lecture. It is 100% audience questions posed to the panel. Matt Westerhold and I will facilitate the dialogue between audience and panel. As facilitators, our job is to see that questions are answered in a manner that is easy to understand, ensure the questions asked stay on the topic and ensure all dialogue is spoken in a manner that demonstrates mutual respect for everyone in attendance. Donna worked as an educator for the Ohio State University Extension Office for 26 years before she retired. We pulled her out of retirement in January 2023. Today, she works part-time at Serving Our Seniors as a “Money Mentor”. Are you finding it difficult to live on your retirement income? Do you wish you had more spending money in your pocket? Donna has a wealth of knowledge and she is here to help you figure how to be a better penny-pincher and how to stretch your dollar. To find out if Donna can help you keep more money in your wallet give her a call at Serving Our Seniors 419-624-1856. There is no cost/fee of any kind for Donna’s help as Serving Our Seniors new Money Mentor. Call for more information 419-624-1856. Donna Green: Knows How to Stretch a Dollar in Later Life Marcy Kaptur Max Richtman 14