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Episodes by Topic: Medicare
Social Security and Medicare, Part 2
Eddie Holland joins Mike again to discuss more about Social Security and Medicare.
They answer a number of listener questions, including:
- Why might you delay taking Social Security? What about taking it early?
- How would the survivor benefit play into that consideration?
- Is there any penalty for someone who has not yet reached full retirement age to continue working for a year or two, but still go on and start drawing Social Security?
- How does Social Security determine your annual benefits based on your estimated date of death?
- Once you reach full retirement age, and you decide to continue to keep working, does your employer still withdraw Social Security taxes past your retirement age/date?
- At what point do we have to decide about Medicare if both spouses are at retirement age, but one of us is still working and has employer provided health insurance?
- My employer health insurances will subsidize half our Medicare premiums. Should I go on and sign up for Medicare to take advantage of that?
- I’m 68, going to file at 70. My spouse is 62. Should she go on and file? If she does, when she reaches full retirement age, can she then claim my spousal benefit?
- At what age can you still work and draw Social Security and not be penalized?
Social Security and Medicare, Part 1
Eddie Holland, CFP®, CPA/PFS, CKA®, joins Mike to discuss Social Security. They answer the following questions:
- If I’m going to collect social security and continue working, how do they calculate the amount taken out for social security and when do they look at that?
- How much of your social security will be considered as taxable income for a given year?
- What is full retirement age and why does that matter?
- What is the split strategy?
- What is the income reduction?
- If I have health benefits through my job, but I am approaching Medicare age, do I need to switch to Medicare?
- How would enrolling in Medicare affect your usage of a Health Savings Account?
- Does a spouse have the ability to use your Medicare or Cobra if they are themselves too young to apply?
- How does my income affect my Medicare premium?
Disclaimer: “Ronald Blue Trust and its employees have general knowledge of the Social Security tenets, however, they do not have complete expertise to provide a full discussion of the details of your specific situation. So, for additional information, contact your local Social Security office.” (and don’t be afraid to ask questions or for a supervisor if the information isn’t clear or not what you were expecting.)
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Best of Talking Money: Medicare and Social Security, Part 1
Applying for Medicare can be a complicated process. Eddie Holland, CPA, CFP®, CKA®, and Social Security expert, joins Mike to discuss the different types of Medicare, how Medicare can affect your HSA eligibility, when to apply for Medicare, penalties for filing late for Medicare, and potential exemptions from filing for Medicare. They also answer several commonly asked questions about Medicare.
Original air date: March 21, 2020
Listen to the EpisodeSocial Security and Medicare Strategies, Part 2
Eddie Holland, CPA, CFP®, CKA® , Social Security expert, joins Mike to discuss some Social Security claiming strategies as well as Medicare premium and tax strategies. Part 2
Listen to the EpisodeSocial Security and Medicare Strategies, Part 1
Eddie Holland, CPA, CFP®, CKA®, Social Security expert, joins Mike to discuss some Social Security claiming strategies as well as Medicare premium and tax strategies.
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