Results for "medicare"

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Medicare rules differ for small business owners and employees

March 13, 2017

Financial advisers who work with owners or employees of small businesses that employ fewer than 20 workers should be aware of a special rule that affects these clients: They must enroll in Medicare when they turn 65 or face lifelong penalties....

Gray divorce presents Social Security challenges

March 10, 2017

While overall divorce rates in the U.S. remained stable between 1990 and 2010, gray divorce among spouses age 50 or older doubled during the same 20-year period, jeopardizing the retirement security of millions of baby boomers. Now, one in four...

Strict timeline governs health savings accounts and Medicare

February 28, 2017

Many clients have chosen to enroll in health savings accounts (HSAs) because they like the triple tax savings that HSAs offer when paired with a high-deductible health insurance plan. But things can get very complicated when clients approach...

Using IRAs to reduce Medicare premiums

February 21, 2017

High-income Medicare beneficiaries who are age 70 1/2 or older can use a recent change in the tax code to reduce their Medicare premiums surcharges. Individuals whose modified adjusted gross income (MAGI), which encompasses all income including...

2016 tax returns determine 2018 Medicare premiums

January 25, 2017

As your older clients gather their financial documents to file their 2016 federal income taxes, they should pay close attention to the bottom line on their tax return. Their adjusted gross income in 2016, plus any tax-exempt interest income,...

Medicare decisions get personal

January 13, 2017

This is my latest dispatch from the retirement front, an occasional series of articles where I chronicle my personal retirement decisions that I hope can offer some insights for advisers working with retired and soon-to-be-retired clients. This...

What Medicare changes will mean for clients in 2017

December 14, 2016

Recently, I wrote about the estimated 22% escalation in Medicare Part B premiums and Parts B and D high-income surcharges. Contrary to what the Medicare Trustees projected, the Centers for Medicare and Medicaid Services (CMS) approved a 10%...

Advisers and clients worry about Obamacare changes under Trump

November 17, 2016

Financial advisers who have Obamacare policies for their families and staff, or have clients with the plans, are nervous about the specifics of President-elect Donald Trump's intention to repeal and replace the Affordable Care Act. About 20...

Low Social Security cost-of-living adjustment keeps Medicare premiums lower for most

November 11, 2016

Seventy percent of people with Medicare are protected from a large rise in premiums next year because of the low cost-of-living adjustment for Social Security benefits, leaving the rest to absorb higher health care costs. The standard monthly...

Where will Medicare costs go in 2017?

November 7, 2016

People are asking me where Medicare costs, specifically Part B premiums and Part B and D high-income surcharges, are going in 2017. While the final numbers have not yet been released, we know that Medicare costs have been going up dramatically....

Big gap between Social Security cost-of-living adjustment and retiree inflation

October 24, 2016

One of the great values of Social Security benefits is that they are supposed to increase each year to keep pace with inflation and protect seniors' buying power. Unfortunately, that's not the way it has worked out in recent years. The rising...

My client's Medicare coverage has been canceled, now what?

October 7, 2016

This is the time of year when everyone who already has a stand-alone Medicare Part D prescription drug plan or a Medicare Part C Advantage plan that includes Part D gets a letter from their current plan. There are two types of letters. Most...

Grappling with retirement health costs

September 25, 2016

It is fairly well-known that Americans are living longer and that medical costs are climbing. How advisers are dealing with these two trends is less clear. There is a good reason why, in the opening paragraph of his cover story last week, InvestmentNews...

Now is the time for an annual Medicare check-up

September 9, 2016

Just like it's a good idea to have an annual check-up for your health, it's smart to have a Medicare check-up to make sure the coverage will work when folks need it, and not break the bank. The best time of year for everyone in Medicare to have...

New Congressional bill addresses Medicare enrollment confusion

August 30, 2016

In the past, the traditional retirement age of 65 was the trigger age for a host of crucial decisions: claiming Social Security benefits, enrolling in Medicare, retiring from a job and, if you were lucky, the start of collecting your pension....

The alphabet soup of Medicare enrollment periods

August 12, 2016

There are many enrollment periods for the various parts of Medicare. These windows of opportunity provide beneficiaries the chance to sign up for Medicare coverage. It is critical to understand these enrollment periods, which involve requirements...

Make Medicare easier by using auto pay

July 22, 2016

Summertime is the time to kick back, relax and take it easy. Whether you are on Medicare yourself or are a caregiver for someone who is, one thing you can do to make things easier is to set up auto payment of premiums. Using auto payment for...

Baby boomers reach required minimum distribution milestone for retirement accounts

June 20, 2016

The first of wave of baby boomers will hit an important milestone beginning July 1. Those earliest boomers born at the start of 1946 will turn 70½ in mid-summer, and will be followed at the rate of 10,000 people per day for the next 18 years....

Skeptical advisers should reexamine their attitudes toward reverse mortgages

June 19, 2016

Many financial advisers have jaundiced opinions about reverse mortgages, but as Mary Beth Franklin noted in last week's issue of InvestmentNews, many of the weaknesses of the original reverse mortgages have been fixed. In other words, these...

How to optimize Medicare for those who have served in the military

June 7, 2016

In honor of those who have served in the military, including active duty and veterans, I am focusing this column on Medicare and the military. Whether active duty, retired military or veteran, there are important points of intersection and interaction...

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