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Cayuga Health System adds Arleo Eye Associates
LANSING — Cayuga Health System has added Arleo Eye Associates, which is based in the village of Lansing, in a deal that took effect Jan. 1. The ophthalmology practice, which has served the community for more than 30 years, is “transitioning to ensure continuous quality eye care for the community,” per the Jan. 2 Cayuga […]
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LANSING — Cayuga Health System has added Arleo Eye Associates, which is based in the village of Lansing, in a deal that took effect Jan. 1.
The ophthalmology practice, which has served the community for more than 30 years, is “transitioning to ensure continuous quality eye care for the community,” per the Jan. 2 Cayuga Health announcement. No financial terms were disclosed.
This announcement came just days before Ithaca–based Cayuga Health announced an affiliation agreement with Arnot Health of Elmira under the name Centralus Health.
Dr. Robert Arleo started Arleo Eye Associates in Ithaca in 1994 and has since expanded with an office to Auburn.
“Arleo Eye Associates has become an integral part of the patient-centered health care provided in our region,” Dr. Arleo said in the Cayuga Health announcement. “We are proud of our commitment to quality care in our community and strongly believe in Cayuga Health’s ability to continue the excellent, compassionate care that we have devoted ourselves to.”
Providers, phone numbers, and fax numbers at Arleo Eye Associates will remain the same, so “patients can expect minimal change,” Cayuga Health said.
“Cayuga Health is excited to work with the wonderful providers and staff at Arleo Eye Associates. They have a long-standing tradition of excellent, patient-centered, and collaborative care that we look forward to carrying forward in partnership with the Arleo team,” Jeffrey Penoyer, VP of ambulatory services at Cayuga Health, said.
Arleo Eye Associates serves patients of all ages for every medical service their eyes may need, from routine exams to surgical procedures. Ophthalmologists Robert Arleo and Gregory J. Zablocki have performed more than 30,000 cataract, glaucoma, and laser surgeries, according to the Arleo Eye Associates website.
New HIPAA rule tightens scope of health-information sharing
A new final federal rule modifying the Health Insurance Portability and Accountability Act of 1996 (HIPAA) Privacy Rule is now in effect, changing the way reproductive health-care information is handled, according to a health care law expert. The main part of the new rule went into effect on Dec. 23 and prohibits the use or
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A new final federal rule modifying the Health Insurance Portability and Accountability Act of 1996 (HIPAA) Privacy Rule is now in effect, changing the way reproductive health-care information is handled, according to a health care law expert.
The main part of the new rule went into effect on Dec. 23 and prohibits the use or disclosure of protected health information (PHI) to conduct a criminal, civil, or administrative investigation into or to impose liability on any person for the act of seeking, obtaining, providing, or facilitating reproductive health care where such care is lawful or identifying any person for the purpose of conducting such investigation or imposing such liability.
The prohibitions apply where the care is lawful in the state in which the care was provided or is otherwise protected by federal law when it comes to reproductive health care.
“Their definition of reproductive health care is pretty concise,” says Brigid Maloney, a partner and co-team leader of the health-care practice at Lippes Mathias, a Buffalo–based law firm with additional New York offices in Albany, Melville, New York City, Rochester, Saratoga Springs, and a Syracuse office that opened last June.
Simply put, reproductive health care is all health-care matters related to the reproductive system. And now information related to that care is specifically protected by HIPAA.
Previously, the information fell into a category where the information “may” be disclosed without consent, Maloney notes. Now, entities may not disclose the information without the patient’s consent. Specifically, the information may not be disclosed to someone conducting an investigation, nor can the name of the provider be released — not even to law enforcement, she adds.
The new rule aligns with the main tenet of HIPAA, which, along with digitizing and modernizing health records, was designed to build trust in health care, she says. The premise is that in order for health care to be effective, patients need to trust their providers enough to share confidential health information.
The new rule also comes with a new component when it comes to requesting reproductive health care.
“There is a new attestation requirement,” Maloney says. That means if someone requests such information, they need to provide an attestation to the covered entity they are requesting it from, stating they won’t use the information for prohibited purposes including an investigation or identifying a provider.
“This even applies to subpoenas,” Maloney adds.
Hospitals, clinics, doctor’s offices, and other covered entities should take some steps to make sure they are complying with the new rule, she says. That includes updating internal policies and procedures and training their workforce on when to obtain attestations.
Organizations have until February 2026 to update their notice of privacy practices.
Maloney recommends organizations consult their legal counsel to ensure compliance. They can also visit the U.S. Department of Health and Human Services website (www.hhs.gov/hipaa/for-professionals/special-topics/reproductive-health/index.html) for more information and resources.
Crouse Health adds Brackens to board
SYRACUSE — Crouse Health recently announced the appointment of Vicki Brackens, president of her own financial-services firm, to the health system’s board of directors. President of Brackens Financial Solutions Network, Brackens has more than 30 years of experience as an entrepreneur working in the area of financial education and financial services. She was co-host of
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SYRACUSE — Crouse Health recently announced the appointment of Vicki Brackens, president of her own financial-services firm, to the health system’s board of directors.
President of Brackens Financial Solutions Network, Brackens has more than 30 years of experience as an entrepreneur working in the area of financial education and financial services. She was co-host of the TV show “Financial Fitness” on PBS affiliate WCNY in Syracuse for a number of years. A chartered financial consultant, Brackens can be heard providing strategic financial advice weekly on the “Inspiration for the Nation” program, hosted by George Kilpatrick.
Brackens is an active community leader, having served as board member and on the Finance and Development Committees of the Central New York Community Foundation, as a foundation board member of the Milton J. Rubenstein Museum of Science and Technology, a member of The Raymond von Dran IDEA board of advisors (RvD IDEA), and as a member of the Syracuse Area Salvation Army advisory board. She also continues to serve as a member of the board of directors and Investment Committee chair of CenterState CEO.
In 2020, to address the need for greater diversity in the financial-services industry, Brackens co-founded Heritage Financial Partners (HFP). As a management company, HFP provides individual advisors and firms, particularly those founded by African American and Latino practitioners, affiliation under one entity to provide the scale and support needed to consistently serve their marketplace.
“Vicki is an accomplished, highly regarded community leader. Her unwavering commitment to enhancing the well-being of our community aligns perfectly with Crouse Health’s mission. We are pleased to welcome her expertise and passion to the board and look forward to her contributions,” Crouse Health Board of Directors Chair Patrick A. Mannion said in a December announcement.
Crouse Health says it is the only locally governed community hospital system in Central New York. It has 507 beds, more than 800 physicians, and 3,500 employees with locations throughout the area. The Crouse board of directors, comprised of 17 local community leaders, provides all governance over the organization.
Donation supports meal program for Bassett cancer patients
COOPERSTOWN, N.Y. — The Lucky Duck Foundation recently made a $5,000 donation to a program that provides medically tailored food to Bassett Healthcare Network cancer
VIEWPOINT: Building One Upstate
The keys to a healthier, more connected CNY In the 18 months since joining the team at SUNY Upstate Medical University, I continue to be impressed by our community’s sense of connection and shared responsibility. I have observed that Central New Yorkers are committed to looking out for one another. At SUNY Upstate, we take
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In the 18 months since joining the team at SUNY Upstate Medical University, I continue to be impressed by our community’s sense of connection and shared responsibility. I have observed that Central New Yorkers are committed to looking out for one another.
At SUNY Upstate, we take this responsibility seriously. Our core mission is to improve the health of our community by training health-care professionals and providing exceptional care. And, as the region’s largest employer with nearly 12,000 employees, we take pride in setting the example for how neighbors should care for one another.
The roots of SUNY Upstate run deep with a service region spanning from the Canadian border to the New York–Pennsylvania line. Our employees represent 30 upstate New York counties — translating to more than $700,000 in payroll that gets pumped back into our region. Factoring in research and clinical operations, it’s estimated that SUNY Upstate provides $2.3 billion in economic impact to Central New York.
We have a history of stepping up to meet the needs of our community. Though our expertise is in health care, research, and education, the strategies we have implemented can be applied to any industry or field. A cornerstone of our approach is meeting people where they are — whether it’s students, employees, or patients.
As Central New York’s only public academic medical center, we offer flexible pathways to success knowing that every student’s academic journey is different. Our 3+3 partnerships with local institutions including Le Moyne College and Syracuse University, and fellow SUNYs including SUNY ESF, SUNY Oswego, and SUNY Brockport — plus a new partnership with SUNY Oneonta — help make careers in health care more accessible and affordable by allowing students to complete three years at one of these schools before earning their doctorates in physical therapy in our College of Health Professions. In the fall, we secured a 4 + 3 partnership with SUNY Potsdam to help make graduate degrees more accessible to neighbors living in the North Country.
Our commitment also includes supporting veterans as they advance their education and careers. In November, our Norton College of Medicine became a partner with the Special Operations Forces to School of Medicine (SOFtoSOM), an organization that assists U.S. Special Operations Forces veterans and active-duty service members applying to medical school. While admission is not guaranteed, this partnership provides applicants with an interview and valuable coaching and research opportunities. Veterans bring exceptional skills like teamwork, reliability, dependability, critical thinking, and service orientation, which are especially valuable in health care. We look forward to welcoming our SOFtoSOM scholars in 2025.
Building partnerships — whether academic or the newly-established relationship with SOFtoSOM — also helps us strengthen the pipeline of health-care professionals committed to our community. SUNY Upstate graduates overwhelmingly continue to work in our area after graduation.
Answering the call to power Central New York’s workforce is a task we do not take lightly. In this post-pandemic world, the current challenges that providers face in terms of recruiting and retaining staff are burdens felt nationwide among medical centers — particularly hospitals. In Syracuse, the challenges are compounded with demands to keep up with new infrastructure, as our community is charged with ramping up resources ahead of the anticipated Micron groundbreaking.
To help fill the significant shortage in health-care staff, it’s critical that we look within our organizations to understand what we can be doing differently to take care of our people.
According to the Center for Health Workforce Studies, Central New York experienced a 28 percent decline in new RNs from 2019-2023, during the height of the pandemic and immediately following. Then, there’s the ‘BSN in 10’ law in New York State requiring full-time registered nurses to obtain bachelor’s degrees within 10 years of initial licensure. While researchers are cautiously optimistic that RN numbers are stabilizing, it’s critical that academic centers maintain a strong pipeline to train our future care providers.
In SUNY Upstate’s quest to ensure our region is at an advantage, we are proud to introduce the Upstate Edge — a program designed specifically for our full-time nursing staff.. The program is a flexible way for our nurses to earn their Bachelor of Science in Nursing degree. All costs associated with the program — including tuition, fees, books, and access to academic resources — are covered, a value of about $20,000. The Upstate Edge reflects SUNY Upstate’s deep commitment to serve our community and prioritize exceptional care. Investing in our students and staff is an investment in our community’s future from people-centered and economic perspectives.
The program was designed with nurses’ busy schedules in mind and eligibility begins on day one of full-time employment with an efficient enrollment process. The program includes tracks ranging from 16 to 22 months, and offers a range of supportive resources, including a dedicated student-success specialist, access to a writing center, and all Upstate College of Nursing resources.
Following the success of an inaugural cohort in fall 2024, we will soon be accepting applications for an upcoming 8-week introductory course beginning in early March, with program enrollment starting this summer. The introductory course is designed to allow nurses to learn more about the Upstate Edge before formally enrolling in the program.
Our goal is to empower everyone: our nurses, patients, and the broader Central New York health-care system. Nurses benefit because B.S. degrees open more opportunities for leadership positions, specialized roles, and increased future earnings. Patients benefit when they experience optimal outcomes from receiving high quality, evidence-based care provided by highly educated and trained nurses. Ultimately, this is good for everyone because a thriving health-care environment gives neighbors the best chance to improve their health.
By investing in our students, staff, and our patients, we are demonstrating our dedication to maintaining the highest standards in ensuring your loved ones receive the best possible care. I’ve come to think of this as building “One Upstate.” This philosophy reflects our belief that taking care of each other is the key to a healthier, more connected Central New York.
Robert Ruiz is the interim VP for educational services and dean of student affairs at SUNY Upstate Medical University in Syracuse.
OPINION: New Yorkers Deserve Real, Lasting Affordability Solutions
Every corner of our state is affected by the affordability crisis, which has only grown more severe in recent years. Inflation and rising costs have put an unprecedented strain on families, making it harder to make ends meet. With the 2025 legislative session [getting going] Assembly Republicans remain committed to advancing practical solutions to ease
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Every corner of our state is affected by the affordability crisis, which has only grown more severe in recent years. Inflation and rising costs have put an unprecedented strain on families, making it harder to make ends meet. With the 2025 legislative session [getting going] Assembly Republicans remain committed to advancing practical solutions to ease the financial uncertainty that so many New Yorkers face.
A recent Siena Poll showed two-thirds of voters feel the cost of living should be a top priority — and they’re absolutely right. For many people, money simply does not go as far as it once did. The average New York family pays a staggering $266 on groceries every week, contributing to household bills that are 24 percent higher than the national average. New York ranks the seventh-most expensive state in the nation for household costs with the average New York household paying $2,627 per month — totaling $31,528 annually on bills alone.
Aside from public polling and financial reports, the state’s staggering outmigration numbers reinforce the significance of our cost-of-living crisis. Since 2020, New York state lost more than 800,000 residents to other states, the largest decline in population share of any state. It’s been painfully obvious for years, the financial pressures caused by high taxes, oppressive prices, housing costs, and utility bills have driven families and businesses to seek more affordable options.
Recently, Gov. Kathy Hochul unveiled her “Inflation Refund Plan,” proposing to send one-time checks ranging from $300 to $500 per family. Essentially, the plan pays New Yorkers with their own money, returning a sliver of what taxpayers have paid into the system. Although I support giving money back to New Yorkers, this type of gimmick fails to address ongoing financial challenges. It’s worth noting the governor’s “refund” scheme was presented immediately after she imposed a controversial $9 commuter tax on drivers going into New York City.
Assembly Republicans have called for comprehensive proposals to tackle affordability. My “Inflation Relief Reduction Act” eliminates the sales tax for two years on purchases of everyday items such as cleaning products, paper goods, takeaway food, and gasoline. Our “A Blueprint for Childcare” Plan creates tax incentives to put more money into the hands of parents and improve access to an increasingly expensive necessity. We have also proposed legislation to conduct a cost-benefit analysis of the state’s energy mandates to show the true financial impact on consumers’ utility bills.
Over the past five years alone, state spending has surged by an alarming $67 billion, pushing us further from fiscal responsibility. This unchecked spending spree has placed an unbearable burden on New York’s hardworking families. The reality is that when government spending grows unchecked, it leads to a rising cost of living for everyone. Making matters worse, Gov. Hochul recently vetoed a bill that would improve state-spending transparency. At a time when New Yorkers are feeling the weight of rising costs, this veto sends a message that those in power are unwilling to make the government more accountable to the people it serves.
To address the affordability crisis, we must take decisive action to find permanent solutions that bring state spending down to sustainable levels, focus on lowering taxes, and make government more transparent. New Yorkers deserve a government responsive to their needs, one that spends within its means, and doesn’t pass the cost of poor financial management onto the taxpayers.
William (Will) A. Barclay, 55, Republican, is the New York Assembly minority leader and represents the 120th New York Assembly District, which encompasses all of Oswego County, as well as parts of Jefferson and Cayuga counties.
OPINION: The Fights Ahead on Government Efficiency
A few weeks ago on X, that social-media platform’s owner, Elon Musk, tweeted that he has the U.S.’s twice-yearly Daylight Savings/Standard Time change in his sights. “Looks like the people want to abolish the annoying time changes!” he wrote. Vivek Ramaswamy responded quickly: “It’s inefficient & easy to change.” This wasn’t just two billionaires musing
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A few weeks ago on X, that social-media platform’s owner, Elon Musk, tweeted that he has the U.S.’s twice-yearly Daylight Savings/Standard Time change in his sights. “Looks like the people want to abolish the annoying time changes!” he wrote. Vivek Ramaswamy responded quickly: “It’s inefficient & easy to change.”
This wasn’t just two billionaires musing about a source of annoyance to lots of Americans, but two billionaires who believe they’re in a position to do something about it. That’s thanks to the bureaucracy-cutting effort President-Elect Donald Trump has asked them to undertake, the so-called “Department of Government Efficiency”.
But let’s ponder those words, “easy to change.” Really? Any change will have to go through Congress. And though Republicans will control both houses, this won’t be a partisan issue. Instead, the divisions will be regional. Do we shift to permanent Daylight Savings Time, as legislators from the coasts would prefer? Or do we install permanent Standard Time, since politicians in the center of the country note that under the alternative, wintertime sunrise could come as late as 9 a.m. in some cities? You can see how quickly this gets complicated.
That’s a small example of what lies ahead as Musk and Ramaswamy pursue their agenda, long sought by politicians of both parties (remember Al Gore’s National Partnership for Reinventing Government in the 1990s?), of cutting and streamlining the federal government. The two laid out their thoughts in a Wall Street Journal commentary in November, and while it covered a lot of ground, the gist is that they intend to pursue “mass head-count reductions across the federal bureaucracy,” require federal employees to work in the office five days a week (which “would result in a wave of voluntary terminations that we welcome”), roll back — or at least pause — thousands of regulations, eliminate entire agencies or portions of them, and end “waste, fraud, and abuse.” In subsequent interviews, Ramaswamy has also talked about cutting “billions” from Social Security.
It’s an ambitious agenda, and I suspect a lot of people are interested in seeing what the pair can accomplish. I don’t know anyone in either party who believes the federal government is a lean, highly efficient organization. Still, for all their confidence and air of certainty, I wonder if Musk and Ramaswamy understand what they’re taking on.
Let’s consider those “mass head-count reductions.” Americans have no love for “faceless bureaucrats” — but they depend on them. The VA health care system — which falls under their blanket of “unauthorized” government expenditures — serves some 6.2 million veterans. As administrative law attorney Mark Maher wrote recently in the Philadelphia Inquirer about the Musk-Ramaswamy effort, “These people act like our administrative state is staffed by grifters making your life more expensive. The reality is agencies keep our air breathable, our water drinkable, and our food edible. They protect our rights to work in a safe workplace…. They protect our Medicare and Social Security.” Or as a GOP House committee chair put it, proposing to cut appropriations that haven’t been officially authorized by Congress, as Musk and Ramaswamy have done, is “an amateur’s comment.”
All of which is to say, if Musk and Ramaswamy plan to take a meat cleaver to government in the name of downsizing — rather than pursue strategic streamlining — there is a good chance that Americans will come to question the results, especially as their benefits shrink and smart, knowledgeable, and experienced civil servants head for the exits. Congress will likely want to have a word before that happens.
Which brings up an interesting question: In their Journal piece, the pair said they want to “reverse a decades long executive power grab.” “The president owes lawmaking deference to Congress, not to bureaucrats deep within federal agencies,” they wrote. But civil servants don’t write laws — they write regulations, usually at the direction of Congress.
So it’s a fair bet that at some point, the Department of Government Efficiency will be at loggerheads with Congress, either over rule-making or over cuts that Congress rightly considers within its prerogatives — and not the domain of unelected officials deep within a made-up “department” that doesn’t even have the force of law. My bet? Watching the conflicts play out will become a new inside-the-Beltway pastime.
Lee Hamilton, 93, is a senior advisor for the Indiana University (IU) Center on Representative Government, distinguished scholar at the IU Hamilton Lugar School of Global and International Studies, and professor of practice at the IU O’Neill School of Public and Environmental Affairs. Hamilton, a Democrat, was a member of the U.S. House of Representatives for 34 years (1965-1999), representing a district in south-central Indiana.
Cayuga Medical Center earns stroke-center certification
ITHACA — Cayuga Medical Center has earned The Joint Commission’s Advanced Certification of Distinction as a Primary Stoke Center, offered in collaboration with the American Heart Association. The certification is designed for hospitals that provide the critical elements to achieve long-term success in improving outcomes of care. “The Advanced Primary Stroke Center Certification recognizes health
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ITHACA — Cayuga Medical Center has earned The Joint Commission’s Advanced Certification of Distinction as a Primary Stoke Center, offered in collaboration with the American Heart Association.
The certification is designed for hospitals that provide the critical elements to achieve long-term success in improving outcomes of care.
“The Advanced Primary Stroke Center Certification recognizes health care organizations committed to fostering continuous quality improvement in patient safety and quality of care,” Ken Grubbs, executive VP of accreditation and certification, operations, and chief nursing officer at The Joint Commission, said in a news release. “We commend Cayuga Medical Center for using this certification to reduce variation in its clinical processes and to strengthen its program structure to drive safer and higher quality care for stroke patients.”
Cayuga Health underwent rigorous, unannounced onsite interviews and reviews in September. A team of Joint Commission reviewers evaluated compliance with certification standards including commitment to delivering quality care and program cohesiveness. Teams submitted monthly and quarterly data to ensure quality and patient standards to The Joint Commission to prepare for the certification.
“We are proud of our hard-working teams for earning this Advanced Certificate of Distinction,” Cayuga Health President/CEO Martin Stallone said in the release. “This certification shows our staff’s dedication to continually improving patient care, especially in critical situations like stroke, where seconds matter.”
Griffiss Institute names new board members, advisors
ROME — The Griffiss Institute recently announced a slate of new board members and advisors to its board of directors. The new board members are the following: • Alicia Dicks is president and CEO of The Community Foundation of Herkimer and Oneida Counties, bringing deep understanding of philanthropy and regional community partnerships. • Jeffrey Dunbar
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ROME — The Griffiss Institute recently announced a slate of new board members and advisors to its board of directors.
The new board members are the following:
• Alicia Dicks is president and CEO of The Community Foundation of Herkimer and Oneida Counties, bringing deep understanding of philanthropy and regional community partnerships.
• Jeffrey Dunbar recently retired from the University at Buffalo’s Office of Business and Entrepreneur Partnerships and serves as secretary to the Board of the Empire Discovery Institute. He brings decades of experience in technology transfer and fostering partnerships that fuel innovation and economic growth.
• Kevin Martin is owner of the Law Office of Kevin G. Martin in Utica and offers extensive legal expertise and a commitment to advancing economic development in the Mohawk Valley.
The new advisors to the board are the following:
• Elizabeth Garvey is a shareholder at the law firm of Greenberg Traurig, LLP in Albany. She is a leader in government relations and regulatory matters with expertise in real estate, gaming, health care, procurement, and economic development.
• Nancy Pattarini, president and CEO of The Paige Group, is a strategic-communications expert and leads a global consulting and brand development firm. Pattarini also serves as a member of the Mohawk Valley Regional Economic Development Council.
The new board members and advisors’ “expertise and passion for community impact promise to elevate our mission of developing the next generation of STEM talent and disruptive technologies to advance national security and economic competitiveness for our region, state, and nation,” the Griffiss Institute said in a news release.
“We are pleased to welcome these leaders and their collective experience to augment our strengths and diversify strategic oversight for the Griffiss Institute,” said Patricia Baskinger, chair of the Griffiss Institute board of directors and CEO of AX Enterprize. “Their broad expertise and perspective will be useful to inform our strategic agenda as we deliver meaningful results for the defense innovation ecosystem and the communities we serve, in Oneida County and beyond.”
The Griffiss Institute is a 501(c)(3) nonprofit talent and technology accelerator for the U.S. Department of Defense and an international network of academic, government, and industry partners.
Ask Rusty: Have I Saved Social Security Money by Claiming at 62?
Dear Rusty: I had to start collecting Social Security (SS) at age 62, and I am 75 now. I believe that in the last 13 years I have saved the Social Security Administration (SSA) money, so I do not know why I cannot draw my full benefits now. If I had started drawing at 65
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Dear Rusty: I had to start collecting Social Security (SS) at age 62, and I am 75 now. I believe that in the last 13 years I have saved the Social Security Administration (SSA) money, so I do not know why I cannot draw my full benefits now.
If I had started drawing at 65 at $1,200 per month, then I would have drawn $14,400 per year. Instead, I received $680 per month from 62 to 75, or $8,160 per year, or about $106,000 over 13 years. Compare that to the age 65 amount of $14,400 per year for 10 years, which is $144,000. So, by claiming at 62, I have saved the government over $38,000 by age 75. It would make seniors lives so much easier if they could draw full Social Security at 75 years old, after getting only part of their SS.
Signed: Second-guessing
Dear Second-guessing: The difference between benefits claimed at various ages causes many to reflect, as you have done, about what might have been had you waited longer to claim. But there is an error in your calculations. If your age 62 monthly benefit is $680, your age 65 monthly benefit would have been about $845, not $1,200. Thus, by age 75 you would have collected about $101,400 by claiming at 65, versus the $106,000 you have received by claiming at age 62. In other words, you still would not have broken even had you claimed at age 65.
The SSA says that it doesn’t matter when you claim — it says that if you claim early your payments will be smaller, but you’ll get more of them. Where SSA’s argument falls apart is when life expectancy is longer. Our experience is that if you wait until your full retirement age (FRA) to claim (which is age 66 in your case), versus claiming at age 62, you will collect the same amount of total money by about age 78. In other words, the “breakeven age” for waiting until FRA to claim is about 78. So, you will reach your personal “breakeven age” in about 2 ½ years (at age 78). And this is precisely why we encourage everyone to understand their life expectancy when deciding when to claim Social Security — those who expect to live longer will, indeed, get more SS money if they delay claiming.
Your benefit is determined by your age when you claim, and if you claim before your FRA your monthly amount is permanently reduced. If you claimed at age 62 and your monthly amount was $680, then in the four years until you reached age 66 (your FRA) you would have received about $32,640. If you had, instead, waited until your FRA to claim, your benefit at age 66 would have been about $906 per month. Collecting $906 a month (at 66) versus $680 per month (at 62) would make your breakeven age about 78. If you claimed at age 65 instead of 62, your breakeven age would have been about a year earlier (77).
So, have you saved the SSA money? Up to this point, you have not. Since you claimed at age 62, you have collected about $680/month for 13 years until you were 75 (or about $106,000). If you had waited until age 65 to claim you would have, instead, collected about $101,400 —in other words you have received more, so far, by claiming at age 62. But that will change when you reach 77 (your breakeven age, had you claimed at 65). Starting at age 77, you will have received less in cumulative lifetime benefits because you claimed at age 62. Which, again, is why — at the AMAC Foundation’s Social Security Advisory Service — we encourage everyone to consider life expectancy when deciding when to take Social Security benefits. Of course, there are other factors too, not the least of which is financial need, but life expectancy is key. And since the benefit you get when you claim is permanent (except for annual cost-of-living adjustments), deciding when to claim Social Security is a decision that affects a lifetime.
Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4-million-member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org.
Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained, and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity.
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