50+ Lifestyles

GIVE THE GIFT OF TIME AND LOVE THIS MOTHER’S DAY

By Cristina Vital
Social Security Manager
Rock Island Social Security Office

What do you plan to get for Mom this Mother’s Day? If she’s like most Americans, she probably feels time-constrained and the hours she spends with family and friends are precious. So, in addition to giving her flowers or a card, give her a gift she’ll really appreciate: the chance to spend more time with the ones she loves!

While spending time with your mom on Sunday, May 10, you can help her quickly and easily sign up for a free, online my Social Security account. You can do it from home, which means less time waiting in line, and more time doing the things you want to do together.

Signing up for a my Social Security account will give Mom the tools she needs to stay on top of her future Social Security benefits. When she signs up at www.socialsecurity.gov/myaccount, she can do a number of things. First and foremost, she can plan for her retirement.

Mom can never start planning for retirement too early. If she isn’t already retired, she can view her Social Security Statement, verify her earnings records, and find out what benefits she can expect to receive at age 62, her full retirement age, or at age 70.

Is Mom thinking of retiring at a different age? It’s easy to get instant, personalized benefit estimates, too. Just escort Mom to the Retirement Estimator, where she can plug in different scenarios to find out how much she can expect in Social Security benefits. She can also plug in different future wage amounts to see how her future benefits can be affected by when she retires and how much she contributes. Visit the Retirement Estimator at www.socialsecurity.gov/estimator.

As she continues to work and earn wages, she can use her my Social Security account to keep track of and verify her annual earnings. If Mom has already retired and  receives Social Security benefits, she can use her account to:
•  Get an instant letter with proof of her benefits;
•  Change her address and phone number; and
•  Start or change direct deposit of her benefit payment.
The time saved by using our convenient and secure online services is priceless. Helping Mom sign up for a my Social Security account at www.socialsecurity.gov/myaccount is a great, personalized gift that shows you really care!
GET INTO THE ACT WITH OLDER AMERICANS MONTH

In May, we recognize Older Americans Month to acknowledge older Americans and their contributions to the nation.
More than 40 million people in the United States are 65 or older. By 2035, the U.S. Census Bureau projects this number will double, which makes improving the quality of life for older Americans even more important as we look to the future. It is Social Security’s priority to provide a safety net for older Americans. You can learn more about Social Security at www.socialsecurity.gov.

The main reason Social Security was established 80 years ago was to help older Americans. For many older Americans, Social Security benefits are their only source of retirement income. Social Security payments continue for life and are adjusted to keep pace with inflation. The American Association of Retired Persons (AARP) estimates that these benefits help keep 35 percent of older Americans out of poverty.

A great tool for people of all ages is the my Social Security account. With a personalized my Social Security account, you can:
•  Get an estimate of future benefits, if you still work;
•  Get an instant letter with proof of current benefits; and
•  Manage your benefits.
Visit www.socialsecurity.gov/myaccount and join the millions of people who have already created accounts to help them plan for retirement.
This May also marks the 50th anniversary of the Older Americans Act. Congress passed the Act in 1965 in response to a lack of community social services for older persons. Medicare, in effect since July 1, 1966, will also celebrate its 50th anniversary soon. Medicare provides health insurance to more than 42 million Americans age 65 and older. If you aren’t familiar with the four parts of Medicare, they are:
•  Part A (hospital insurance):  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.
•  Part B (medical insurance):  Medical insurance helps pay for doctors’ services and many other medical services and supplies that hospital insurance doesn’t cover.
•  Part C (Medicare Advantage plans):  If you have Medicare Parts A and B, you can join a Medicare Advantage plan. Private companies offer Medicare Advantage plans approved by Medicare. These plans generally help you pay the medical costs not covered by Medicare Part A and B.
•  Part D (prescription drug coverage):  Prescription drug coverage helps pay for medications doctors prescribe for treatment.
To learn more about applying for Medicare, read our publication Applying For Medicare Only—Before You Decide. To learn more about Social Security, read Understanding the Benefits. Both are available at www.socialsecurity.gov/pubs.