Retirement & Taxes
Long-term financial planning, retirement accounts, government benefits, tax law, and IRS rules. Covers the intersection of policy and personal finance that affects how people save, invest, and plan ahead.
Latest in Retirement & Taxes
$2,000 is what low- and middle-income savers can claim just for funding a retirement account
Workers earning low or moderate incomes can cut their federal tax bill by as much as $1,000 per person, simply by putting money into a...
$75,000 is Illinois’s new income limit for its senior property-tax freeze in 2026
Illinois seniors earning up to $75,000 in household income will qualify for the state’s property-tax assessment freeze starting in tax year 2026, a $10,000 jump...
Medicare Advantage members get a January-to-March window to switch or return to original Medicare
Medicare Advantage enrollees across the country face a yearly decision window between January 1 and March 31 that allows them to change plans or drop...
$283 is Medicare’s 2026 Part B deductible, $26 more than last year
Medicare beneficiaries face a $283 annual Part B deductible in 2026, a $26 jump from the $257 they paid in 2025. The Centers for Medicare...
$2,100 now caps what Medicare drug plans can charge you out of pocket in 2026
Medicare beneficiaries who take costly prescription drugs will face a hard ceiling on what they pay each year starting in 2026. The Centers for Medicare...
600,000 UnitedHealthcare members will lose their Medicare Advantage plan for 2027
Roughly 600,000 people enrolled in UnitedHealthcare Medicare Advantage plans face the loss of their coverage heading into 2027, forcing them to find new plans during...
Social Security benefit debit cards are switching from Comerica to Fifth Third Bank
People who receive Social Security, Supplemental Security Income, or other federal benefits on a Direct Express debit card are facing a bank switch they did...
Newborns the rest of 2026 get a commemorative Social Security card for America’s 250th year
Every baby born in the United States between July 2 and December 31, 2026, will receive a limited-edition Social Security card stamped with the official...
Roth 401(k) accounts no longer force required withdrawals during your lifetime
Workers with Roth 401(k) accounts gained a permanent tax advantage starting in 2024: they no longer face mandatory annual withdrawals while they are alive. Section...
$40,000 is the new SALT deduction cap, letting more homeowners write off state taxes
Millions of homeowners in high-tax states can now write off up to $40,000 in state and local taxes on their federal returns, quadrupling the cap...
You get 8 months to sign up for Medicare Part B after job coverage ends
Workers who stay on an employer health plan past age 65 face a strict federal deadline once that coverage ends: eight months to enroll in...
$8,600 is the new 2026 IRA contribution limit for savers 50 and older
Savers aged 50 and older can now set aside up to $8,600 in an individual retirement account starting in 2026, a combined total that reflects...
$2,050 is the new extra standard deduction for filers 65 and older on 2026 returns
Taxpayers who are 65 or older will be able to claim a $2,050 additional standard deduction on their 2026 federal returns, filed in 2027. The...
Student debt forgiven in 2026 could be taxed again as the pandemic-era exemption expires
Borrowers who receive student loan forgiveness after December 31, 2025, face the prospect of owing federal income tax on the discharged amount. The temporary exclusion...
Social Security will waive an overpayment of $2,000 or less without a drawn-out fight
Beneficiaries who owe the Social Security Administration $2,000 or less in overpayments can have that debt wiped clean without enduring the full waiver review process,...
Medicare’s fall enrollment runs October 15 to December 7
Medicare beneficiaries face a hard deadline each year: any changes to health or prescription drug coverage must be locked in between October 15 and December...
Medicare covers Wegovy and Zepbound at $50, and BMI over 35 can qualify you
Medicare beneficiaries with a body mass index of 35 or higher can now fill prescriptions for Wegovy and Zepbound at a flat $50 monthly copay,...
SSI recipients will get two payments this month, one on July 1 and another on July 31
Supplemental Security Income recipients will see two deposits hit their accounts in July 2026, one on July 1 and another on July 31. The second...
Who qualifies for the new $6,000 senior deduction? People 65 and older with income under $75,000
Americans age 65 and older who earn less than $75,000 a year can now subtract an extra $6,000 from their taxable income, a break created...
93% of Medicare Advantage insurers say the business isn’t profitable, and most plan to trim 2027 benefits
Nearly all Medicare Advantage insurers report that the business is not profitable, and a majority intend to scale back supplemental benefits for 2027. That pressure...