Opinion

TURNING 65 OR NEW TO MEDICARE? If you have Medicare questions, I can help

Looking for better Medicare Advantage and prescription drug plans?

Now is the right time to review your current Medicare coverage—and maybe strengthen it. Let’s make sure you have the benefits you really want in 2021. Sometimes the help you need is finding the right answers to your questions and sometimes it’s finding the right plan for your needs. At Humana it’s always about putting you first.

Call a licensed Humana sales agent

Humana MarketPoint® Colorado Springs 719-532-7700, Ext. 0 (TTY: 711)

Monday – Friday, 8 a.m. – 5 p.m.

Applicable to Humana Gold Plus HMO H0028-025-002. For accommodations of persons with special needs at meetings call 1-877-320-1235 (TTY: 711), 8 a.m. – 8 p.m., seven days a week. At Humana, it is important you are treated fairly. Humana Inc. and its subsidiaries comply with applicable Federal Civil Rights laws and do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender, gender identity, ancestry, marital status or religion. English: ATTENTION: If you do not speak English, language assistance services, free of charge, are available to you. Call 1-877-320-1235 (TTY: 711). Español (Spanish): ATENCIÓN: Si habla español, tiene a su disposición servicios gratuitos de asistencia lingüística. Llame al 1-877-320-1235 (TTY: 711). 繁體中文 (Chinese): 注

意：如果您使用繁體中文 ，您可以免費獲得語言援助服務 。請致電 1-877-320-1235 (TTY：711) 。 Y0040_GHHHXDHEN21_C

Do you need Social Security?

By Dr. Glenn Mollette

In 2020 over 64 million Americans were collecting Social Security.

The National Institute for Retirement Security (NIRS) reported that Social Security is the only income source for 40 percent of retirees over the age of 60. The study also claimed that only 6.8 percent of retirees receive income from the three-legged stool—Social Security, a defined benefit pension and a defined contribution plan.

Another study conducted by researchers at the Social Security Administration found that only 19.6 percent of Americans 65 and over received at least 90 percent of their total incomes from Social Security. That’s a big difference from the stat provided by the NIRS.

Nevertheless, the point is that for millions of Americans, Social Security is either all they have or mostly all they have. Also, there are some government employees who have their own pension system and do not pay into Social Security.

Social Security taxes take a bite of our income from every paycheck. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $142,800 for 2021. The self-employed pay 12.4 percent. Some self-employed struggle with paying the 12.4 percent and look for creative ways to only report a small salary. This may enable you to have more cash now but your Social Security check will be much smaller when you become retirement age.

Religious objectors can often be exempted from paying the tax. I knew a minister who in his younger days did the paperwork to exempt out of Social Security. It was one of the biggest mistakes of his life. When he became 65, he couldn’t quit working. He had also drawn out most of his other pension savings for emergencies.

With meager retirement dollars he was also faced with having to buy Medicare insurance. To make matters worse, he was diagnosed with terminal cancer. At a relatively young senior adult age, he had nothing with which to fight. He was tired from his long years of work. He had nothing financially saved. He couldn’t stop working. Medical insurance became a dilemma and within two years he was dead.

Social Security is not a perfect world. It won’t make you rich, but you’ll be glad you have the check and the medical insurance.

Keep this in mind: The average monthly Social Security payment for 2021 is $1,543, and the maximum you can receive at full retirement age is $3,113 a month. If you have waited until you are 70, the amount is $3,895. These figures change all the time depending on cost-of-living adjustments and how long you work and how much you pay into the system. The longer you work and the more you pay into Social Security, the more you collect at retirement.

So, go to work and be glad for every dollar withheld from your check for Social Security. ■

Dr. Glenn Mollette is a graduate of Georgetown College, and Southern and Lexington Seminaries in Kentucky. He is the author of 13 books, including "Uncommon Sense." His column is published weekly in over 600 publications in all 50 states.

LIGHT UP YOUR FUTURE

★ At Summit Glen ★

Last August, when my 96-year-old mom fell at the home she had lived in for 50 years, we realized she needed to move to an independent living community. When we visited Summit Glen, we knew we had found her new home! From the minute she moved in, she has felt precisely that way. Natalie, the community manager, promised us that they would treat mom like she was their mom, and they have fulfilled that promise every single day. Mom has a lovely apartment with a deck. We can’t believe how many of her precious things we were able to bring to that apartment. The storage is amazing! The building is beautiful and always clean. The food is delicious, and mom enjoys visiting with her many new friends at meals. Mom just loves everyone who works there from her housekeeper to the servers and the chef, the activities coordinator, and of course, the wonderful managers. We feel so blessed to have found the perfect home for mom at Summit Glen!

★ Nancy Daigle

“The main reason I chose Summit Glen is for the access and interaction with the management team that you don’t get anywhere else. This community was also the best value. In the other communities I visited, you don’t seem to get that “touchy feely” family atmosphere and warmth that you get here. At Summit Glen there is a genuine concern for others that is unmatched. There is also more participation by residents in activities here which allows closeness as we get to know each other better. We hug, laugh, joke, and have an overall great time. To me, Summit Glen is excellent!”

★ Jim Maury

“Moving here this past October was a little scary for me at first. This would be the first time I had ever lived alone, and the first time I had ever lived anywhere other than California. But, this was the best decision I could make. Summit Glen has offered me not only the opportunity to make new friends, try new activities and have new experiences, but it has become the new home I never knew I could have. The staff is exceptional. From our managers to the wait staff and housekeeping staff, everyone is attentive, kind and exceptional at what they do. Every day they make me feel like family. The residents are friendly and supportive and have all helped me feel welcome. Making new friends has become a daily thing, not just an occasional pleasure. I look forward to many more years here at Summit Glen.”

★ Harley May Maas