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Benton explained that healthcare costs and inflation for older people exceed COLA adjustments.
The gap forces them to forgo medical treatments, or to do part-time work or forage money.
This approach ignores how seniors budgets need more money to pay for healthcare and housing.
But these fundamentals make retirees finances all the more stressed.
Policy Reforms and Retiree Strategies
In February 2025,Congressman Thomas Massieput forward a bill (H.R.
- that would eliminate federal taxes on Social Security benefits.
Proactive budgeting and working part-time can help retirees offset part of the loss.
Benton suggested downsizing homes, comparing Medicare Advantage plans and using community assistance programs.
Supplemental income may be gained through annuities and reverse mortgages, but they come with conditions.
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