The most complex part of Medicare decisions comes from folks that work past age 65. The most important point of this entire second half of Mr. Clark’s presentation is that to get the most exact details for your situation you should check with your health insurance carrier. Frequently employers’ HR departments are outsourced and a recurring theme is the HR department is not in sync with the health insurance carrier.
Bottom line your health insurance carrier is your go to point of contact if you continue to work past age 65 as you will most certainly need to find out how they want you to handle your Medicare decisions.
Direct Audio Here on our site for your viewing/listening pleasures as well as links to every full post:
Much like our Social Security Benefits discussions, there are certain parts of Medicare Benefits that have more decisions and techniques to choose – Medicare Part B is by far the most detailed, confusing and has the most options to choose – The audio is terrific and gives more details than the bullets below – take a listen!
Medicare Part B Creation, Cost, IRMA, Benefits Options
Medicare Part B:
Doctor Bills coverage and outpatient coverage
Part B has a cost of $135/Month –
You can turn Part B down, but not a good decision unless you have current health insurance coverage “Not taking could be the worst financial decision you make” According to Clark
The $135/Month is about 1/4th of the actual premium – Government Supplements the 3/4 – see next
Income over $85k Individual or $175k Couple, you will pay more as the Government supplement goes away – IRMA – Income Related Monthly Adjusted Amount – click link for recent detailed analysis and solutions
IRMA – Everything but Roth counts towards income, including tax free, interest and anything
Started in 2005 to pay Medicare Part D, Drugs and prescription-
Can refute IRMA as administration has three year old data
It’s hard to believe two huge devastating hurricanes in about as many weeks. Most of our family and friends are ok but certainly misplaced in one way or another. We wish a fast recovery and always admire the unity such a disaster creates.
Today is a Friday and with a Newsletter in the works we will share more next week.
The data is clear, texting is a distraction … heck even talking on the phone while driving can be dangerous.
Texting and Driving Made Illegal
As of September 1, 2017, this bill made texting and driving illegal in the state of Texas.
While hard to enforce, it is a step in the correct direction. The penalties are not strict at this time, but a ticket is a ticket.
Washington was the first state to ban texting in driving in the year, 2007 YEP, 10 years earlier.
Currently there are 47 states that have made it illegal to text and drive. No idea.. Wow!
This is one of the reasons I love doing this blog for everyone, I had no idea that 46 states had already banned texting!
Best wishes to all of those who are in front of this sudden second major hurricane! After speaking at length yesterday to many in Florida … it’s going to be very tough no matter the outcome, be safe and best wishes. Our friends in Puerto Rico avoided the worst, we hope our Floridian family and friends do as well…
Have a good safe weekend for all and we will talk to you Monday!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, please consult your financial advisor prior to investing!
The is the vocal portion of J.K. Financial, Inc. a Dallas Texas Based Fee Only Total Wealth Financial Planning Firm. Founded by John Kvale, a Dallas Texas Fee only Financial Planner and Total Wealth Manager.