After EMS: Social Insecurity
This article is part of an ongoing series from Mike Rubin. In this series, he’ll reflect on his career and share practical retirement advice for emergency medical personnel. Catch up on articles you missed.
If you’re a young follower of this column, you may be getting tired of reading my riffs on Social Security and Medicare. I understand. I felt that way in medic school during granular lectures about diseases I’d never had. I learned but couldn’t relate, even when I was the one giving the lecture.
I wish I could dazzle you with brilliance, but being strategically underemployed for two years doesn’t make me an expert on retirement. I’m still junior to most seniors. I know some stuff, but basically, what you read here comes from a man whose life revolves around healthcare appointments and grocery shopping. Most of the people I meet are either waiting for doctors or looking for breakfast cereal. Trust me, our stories about end-stage leisure aren’t that interesting. You deserve something more useful.
Let’s begin with a trend that’s complicating aging; no, not tariffs on walk-in tubs. I’m talking about an apparent shift in civic values from “Give me your tired, your poor…” to “Me first.” That’s how it seems to many seniors who rely on some form of government aid. Even if you reject my premise, consider these actual headlines as early warnings of what you may face beyond your fifties:
Social Security’s finances erode earlier, risking benefit cuts —The New York Times, 06/18/25.
We’re headed for a 23% decrease in Social Security’s payouts by 2033, according to that agency’s 2025 trustees’ report, unless payroll deductions are increased or eligibility is delayed. No wonder a survey by depositaccounts.com shows that 59% of working Americans worry retirement benefits won’t exist when it’s their turn to get some.
My new goal: Stay solvent longer than Social Security.
Why are so many retirees filing for Social Security earlier? — The New York Times, 05/16/25.
It’s FOMO (fear of missing out) followed by LPMFTROTSL (less per month for the rest of their sad lives). Here’s an example:
Start with the average monthly retirement benefit of $2,000 beginning at full retirement age—67 for most. Subtract $600 per month for enrolling in Social Security at 62 instead of 67. Debit another $500 per month for cashing out before 70. That’s a lost-opportunity cost of $13,200 annually, for life. I don’t know about you, but I sure could use that money if I live longer than I’m supposed to.
The current tax bill could cut $500 billion from Medicare — MarketWatch, 05/21/25.
According to the Congressional Budget Office, passage of the One Big, Beautiful Bill would trigger a statutory $500 billion cut in Medicare from 2026 to 2034 unless lawmakers intervene. A shortfall of that size (4% of Medicare’s budget) may reduce big services and coverage while increasing premiums and deductibles like the world has never seen.
If you haven’t heard that story, you’re not alone, possibly because Medicare cuts would be about as popular as tuna daiquiris.
Editor’s note: One Big, Beautiful Bill was signed into law on July 4, 2025. The White House notes the bill does not specifically cut Medicare benefits; however, as the linked MarketWatch articles outlines, Congress must offset any deficit created by the bill’s passage. Other options are available to avoid cuts. Read the MarketWatch article for a more complete analysis.
Social Security is telling its staff that customer service is about to get a lot worse — Business Insider, 03/24/25.
That’s the kind of news that gives non-drinkers like me second thoughts. Consider these figures from MarketWatch and USA Today:
- Social Security’s workforce has been reduced by 12% (7,000 jobs); claims are delayed by 25%, and callers get 15 times more busy signals than last year. Worse than that would be something like, “Welcome to the Medicare help line. The next available operator is interviewing with DoorDash.”
- The feds expect almost 2 million additional visits to Social Security offices annually. Some weary, anxious customers told to seek service in person will be among the 6 million seniors who don’t drive.
- Social Security has 73 million beneficiaries, but only 863 employees required to work in person at 1,400 offices. Math fails me at such times. Memo to walk-ins: Bring tents.
- One million more administrative cases are pending in 2025. That backlog might be the reason former commissioner Martin O’Malley warned that Social Security could collapse within months and miss payments for the first time ever. Looks like I picked the wrong year to quit nitrous oxide.
If you’re not scared about Social Security, you should be — Des Moines Register, 03/25/25.
Fine, I’m scared about Social Security, okay? Also, Medicare, mushroom clouds, roller coasters, raw pork, and mutant wasps; but I’m lucky as a writer to be alive during interesting times, and I’m determined as a senior to keep my dignity plus some cash. Your goals may vary, but your preparation for retirement needs to be better than mine was at your age. Here are four steps you can take starting today:
- Budget your expenses versus income. Use that to estimate taxes and live within your means. Ask for help if you’re not sure how.
- Invest what’s left in something more profitable than your checking account.
- Know your retirement benefits. Maintain oversight.
- Make health insurance a priority for you and your family.
See you in the cereal aisle. Or the wine cooler aisle.
Mike’s Exit Poll #7: What major sport would you rather play than watch?
Ice hockey for sure. Like thousands of other Boston teens during the late ‘60s and ‘70s, I wanted to find out how far I could advance in the region’s favorite team sport. Talent was an issue. So were injuries. As a goalie, I got hit in the head more than I remember. I continued to play into my forties, but several concussive slapshots to the face convinced me to keep my day job and buy better masks. Whenever I tell friends that story, some are surprised, but most say it explains a lot.
Mike Rubin is a retired paramedic and the author of Life Support, a collection of EMS stories. Contact Mike at mgr22@prodigy.net.
