Posted on Friday, 14th July 2023 by Dennis Damp
Social Security recipients are required to pay taxes on their combined income if it exceeds the following limits according to the Social Security Administration. You will pay tax on 50 to 85 percent of your Social Security benefits, depending on your income and based on Internal Revenue Service (IRS) rules. If you: file a federal […]
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| Comments (0)Posted on Thursday, 13th October 2022 by Dennis Damp
I reported in mid-September that the 2023 COLA was projected to be as high as 8.8%. The Social Security Administration announced an 8.7% COLA increase on October 13th. CSRS annuitants will receive the full 8.7% next year while FERS annuitants will receive 7.7%, a hefty increase from last year’s 5.9%. View the table of all […]
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| Comments (0)Posted on Saturday, 13th November 2021 by Dennis Damp
This summary compares the 2022 GEHA Standard and Blue Cross Blue Shield (BCBS) Basic plans. There are many other plans to consider. I used these two nationwide providers because BCBS has the most subscribers and GEHA has one of the lowest premiums for their standard plan. Many annuitants change to a lower cost FEHB plan […]
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Posted on Sunday, 12th September 2021 by Dennis Damp
The Office of Personnel Management (OPM) announced changes in FEGLI premium rates effective the first pay period beginning on or after October 1, 2021.
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| Comments (0)Posted on Sunday, 16th May 2021 by Dennis Damp
Would you like a secure government backed investment that currently yields 3.54%? If so, consider buying U.S. Series I Bonds. They are paying this rate from May of this year through November. The previous six-month rate was 1.6%, well above what banks were offering for CDs at the time. With inflation on the horizon, due […]
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| Comments (0)Posted on Friday, 27th November 2020 by Dennis Damp
There were a lot of questions concerning the new Medicare Advantage (MA) plans that we reviewed in my previous article. I recently ran a comparison of the Aetna MA (Z26) Plan to GEHA’s Standard (316) Plan and Blue Cross & Blue Shield’s (BCBS) Basic (113) Plans using OPM’s FEHB Plan Comparison Tool and Checkbook’s Guide […]
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Posted on Tuesday, 13th October 2020 by Dennis Damp
I reported in mid-September that the 2021 COLA was projected to be anywhere from .44% to as high as 1.2% according to Kiplinger’s. The Social Security Administration announced a 1.3% COLA increase on October 13th for 2020. CSRS and FERS annuitants will receive the full 1.3% this year. View the table of all COLAs from […]
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Posted on Thursday, 23rd July 2020 by Shawn McCoy
Office of Personnel Management Announces 60 Day Period for Changes to Flexible Spending Accounts (FSAFEDS) To assist with the nation’s response to the COVID-19 pandemic, Internal Revenue Service (IRS) Notice 2020-291 provides increased flexibility with regard to mid-year elections under Section 125 cafeteria plans related to employer-sponsored health coverage, health Flexible Spending Arrangements (health FSAs), […]
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