By Jim Miller

Dear Savvy Senior,

I’m on Medicare. What changes are coming in 2027, and how can I make sure I’m not paying too much for my coverage?

–Careful Shopper

Dear Careful,

If you have Medicare, now’s a good time to make sure you’re getting the best coverage for your money. Open enrollment runs through Dec. 7, giving you a chance to switch Medicare Advantage or prescription drug plans for 2027. Since costs, drug coverage and extra benefits can change from year to year, comparing plans now could save you money and headaches later.

Even if you’re happy with your current plan, don’t assume next year’s coverage will be the same. Here’s what to look for.

By Jim Miller

Dear Savvy Senior,

My 78-year-old father has lived alone since my mother passed away two years ago. He insists he’s fine, but I can tell he spends most of his time by himself and seems increasingly lonely and withdrawn. What can I do to help him, and are there any resources that could support him?

–Worried Son

Dear Worried,

You’re right to pay attention to this. The loss of a spouse often leads to increased isolation in older adults, even when they insist they’re fine. But long stretches without meaningful contact can take a real toll on both emotional and physical health.

Public health research shows that about one in three adults age 50 and older reports feeling lonely at times, and those who live alone are at higher risk for social isolation. But loneliness isn’t always easy to spot, especially in older adults who live alone.

The good news is there are practical ways to help your father reconnect, along with programs and services designed specifically for older adults living alone.

Savvy Senior

by Jim Miller

Dear Savvy Senior,

My mother has several chronic health conditions and needs a home caregiver to help with daily activities. I know she wants to stay at home as long as possible, but how do I know when it’s time to consider an assisted living facility or nursing home?

–Exhausted Daughter

Dear Exhausted,

Most older adults hope to remain in their own home as long as possible, and with the right support many can. But there may come a point when home care is no longer enough to meet a person’s medical, safety or social needs. While moving to an assisted living facility or nursing home is never easy, recognizing the warning signs early can help you avoid a crisis and make the transition less stressful.

If you answer “yes” to several of the following questions, it may be time to start exploring other care options.

Is home care becoming too expensive?

Eight to 10 hours of care a day, seven days a week, can easily cost $100,000 a year or more. That’s well above the median annual cost of a one-bedroom assisted living apartment (about $70,000), though still less than a private room in a nursing home (about $128,000), according to Genworth’s Cost of Care Survey.

By Jim Miller

She’s proud and insists on doing things herself, but I worry she’s falling behind

Dear Savvy Senior,

Since my dad passed away last year, my 82-year-old mother has struggled to keep up with her bills. She’s proud and insists on doing things herself, but I worry she’s falling behind. How can I help her manage her finances without upsetting her?

–Concerned Daughter

Dear Concerned,

You’re not alone – lots of adult children step in to help aging parents with their finances. Whether it’s paying bills, handling bank accounts, filing insurance claims, or sorting through taxes, taking on these responsibilities can feel tricky. The key is to approach it with respect, organization, and the right safeguards. Here’s how to help your mom without stepping on her independence.

Have a conversation

Talking about money can be sensitive, especially with a parent who values doing things on her own. Start with a gentle, respectful conversation. Share your concerns and offer to help with her bills or other chores. If you have siblings, loop them in too. Knowing the whole family is on the same page can reassure your mom that everyone cares, not that you’re taking over.

Savvy Senior
by Jim Miller

Dear Savvy Senior,

I’m planning to move later this year to be closer to my youngest son and his family. I’ve lived in the same state for decades, so I’m a little nervous about how this might affect my Medicare coverage. Will I need to change plans or take any special steps to avoid gaps?

–Relocating Rita

Dear Rita,

Great question. A move like this is exciting, but it’s smart to think ahead about how it could affect your coverage. Whether your Medicare is impacted – and what you’ll need to do – depends on the type of plan you have. Here’s what to expect and steps to take before and after your move.

Original Medicare

If you’re enrolled in original Medicare (Part A and Part B), you’re in the simplest situation. Your coverage will go with you anywhere in the United States, so you won’t need to change your plan when you move.

That said, you do need to update your address so you don’t miss important notices like your Medicare Summary Notice or billing statements. The easiest way to do that is online through your “my Social Security” account at ssa.gov/myaccount using the “My Profile” tab. If you don’t already have an account, you can set one up in just a few minutes. Or, you can call Social Security at 800-772-1213 and have them update it for you.

By Jim Miller

Dear Savvy Senior,

My wife and I are approaching 65, but I’m still working and have good health coverage through my employer. Do we need to enroll in Medicare at this point?

–Almost 65

Dear Almost,

If you or your spouse is still working past age 65 and have health insurance through your job, you may be able to delay enrolling in Medicare without a late enrollment penalty. However, the rules depend largely on the size of your employer.

First, a quick refresher: Remember that original Medicare has two parts. Part A, which covers hospital care and is premium-free for most people. And Part B, which covers doctor visits, lab tests, and outpatient care and has a monthly premium of $202.90 in 2026. Higher-income individuals (over $109,000) and couples (over $218,000) pay more.

If you’re already receiving Social Security, you’ll automatically be enrolled in Parts A and B when you turn 65, and your Medicare card will arrive in the mail. It will include instructions on how to return it if you have employer coverage that allows you to delay Part B.

By Jim Miller

Dear Savvy Senior,

I want to leave something meaningful for my children and grandchildren, beyond just money or property. I’ve heard about “legacy letters,” but I don’t really know what they are or how to start one. Can you help?

–Legacy Seeker

Dear Seeker,

You’re asking a wonderful question. A legacy letter – sometimes called an ethical will – is a personal note to your loved ones where you can share your values, life lessons, cherished memories, hopes, and guidance. Unlike a traditional will, which focuses on legal matters, a legacy letter comes straight from the heart.

Why write one?

Many people think a legacy is just money or property. But often, it’s your words, values, and life lessons that leave the deepest mark. A legacy letter gives your family something to hold onto – your stories, your traditions, and the experiences that shaped who you are. Children and grandchildren often return to these letters for comfort, guidance, or inspiration long after you’re gone. In many ways, it becomes an emotional last will and testament, answering some of the most important questions about your life.

By Jim Miller

Dear Savvy Senior,

I’m trying to figure out the best time for my wife and I to start taking our Social Security retirement benefits and would like to understand the breakeven age. What can you tell me?

–Strategizing Sam                                                                       

Dear Sam,

As you approach retirement, one of the most important financial decisions you’ll face is when to begin collecting Social Security retirement benefits. A useful concept to guide your thinking is the “breakeven age,” which helps you evaluate the trade-off between taking a reduced benefit early versus a higher one later. Here’s what you should know.

SSA Waiting Game

The Social Security Administration allows you to start collecting your retirement benefits as early as age 62. However, your monthly benefit will be permanently reduced – about .5 percent each month – if you claim before your full retirement age (FRA), which is 67 for those born in 1960 or later. Conversely, for every year you delay claiming beyond your FRA – up to age 70 – your benefit amount increases 8 percent each year. Your benefit maxes out at age 70, so there’s no financial incentive to wait longer.

By Jim Miller

Dear Savvy Senior,

What are the absolute lowest-cost smartphone plans for seniors who mainly talk and text but need a little cellular data for email and occasional use? I’m currently paying $40 a month and hoping to cut that down.

–Looking to Save

Dear Looking,

You’re asking a smart question. Many seniors pay far more for smartphone service than they actually use. If most of your phone activity is calls, texts, email, and light web browsing, there’s usually no need to spend $40 or more a month. The good news: plenty of low-cost carriers now cater to light users who want reliable service without the extra cost.

The cheapest plans today mostly come from mobile virtual network operators (MVNOs) – smaller carriers that lease coverage from major networks like T‑Mobile, Verizon, and AT&T. Because they don’t run their own towers, MVNOs can offer basic service for a fraction of the cost of major carriers, while still providing nationwide coverage. Here are some of the best options available now.