April 2016 Newsletter Your client has lost their spouse.  Part of modifying their retirement income plans involves the adjustment to collecting only one Social Security Benefit. That Social Security benefit may be significantly smaller than expected. Retirees who begin receiving their Social Security benefit quickly become aware of two reductions from their benefit: Medicare Parts B and D.  Many also learn that these Medicare Premiums are means tested, meaning that upper income households pay a higher amount for this Medicare coverage. Medicare calls this an Income Related Monthly Adjustment Amount (IRMAA) and is detailed in the chart below. The unexpected surprise that hits the widow is triggered by changing her joint…

      March 2016 Newsletter “You don’t have to swing hard to hit a home run. If you got the timing, it’ll go.” Yogi Berra The usual age for enrollment in Medicare is age 65.  Many individuals, however, are realizing that delaying enrollment may be a prudent plan.  In this issue, we will explore: The advantages of deferring some or all of your Medicare enrollment. The rules one must follow in order to defer. Medicare has costs. Some of these costs are substantial.  To list a few: Medicare B premiums are based on your income, meaning the premium includes a tax for those with higher incomes. Annual 2016 Part…

Connecting with clients on their Health Savings Account February 2016 Newsletter Concern over retirement health care costs now ranks as a top concern among pre-retirees.  Clients, especially those considered affluent, are taking action to plan and prepare. Americans with high incomes ($175,000+) are significantly more likely (47%) than lower earners to have specific plans to cover healthcare costs (How Working Americans View Healthcare costs in retirement. Sun Life Financial May 2011).  It is therefore not surprising to see the tremendous growth of the number and size of Health Savings Accounts. As of June 2015 there were approximately 14.5 million health savings accounts with $28 billion in assets (Devenir). Clients do…