I’d like to share an article by Michael Loftus at Loftus Wealth Strategies titled “The Impact of Health-Care Costs on Social Security”. Michael sources Fast Facts & Figures About Social Security, 2013 and offers the following commentary.
Why Will New Health-care Costs Impact Social Security? For many retirees and their families, Social Security provides a dependable source of income. However, more of that income is being spent on health-related costs each year, leaving less available for other retirement expenses.
The importance of Social Security
Social Security is important because it provides a retirement income you can’t outlive. In addition, benefits are available for your spouse based on your benefit amount during your lifetime, and at your death in the form of survivor’s benefits. And, these benefits typically are …