Medicare

2020 Medicare Premiums and Costs

The Centers for Medicare and Medicaid Services (CMS) released the 2020 Medicare premiums and costs that impact retirees for 2020. Unfortunately, the news doesn’t seem to bring a lot to be merry about for the upcoming year. Here is a breakdown of what retirees on Medicare should expect in upcoming costs for 2020: Part A […]

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Guess what? The government thinks you are rich

Good news! The government thinks you are rich and they are about to tax you accordingly. Bad news! Your financial advisor doesn’t see the problem they created and you don’t feel rich. Where the disconnect happens is once you are retired, you will enroll in Medicare and begin taking Social Security. Within Medicare there is […]

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Is Medicare for All the right solution?

With Congress killing any chance for healthcare reform within the United States for now there seems to be a push for a single payer system to be the solution and within that solution there is a cry of Medicare for All to solve the nation’s healthcare issues. On the surface, this may appear to be a […]

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The Hold Harmless Act

Through the “Medicare Catastrophic Coverage Act of 1988” Congress created a provision, the Hold Harmless Act, that protects those receiving Social Security benefits while enrolled into Medicare from ever experiencing a reduction in Social Security benefits from “too high” of Medicare Part B premium increases in a given year. The goal of this Act was […]

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Impact of Medicare’s IRMAA. Not all income is created equal

Since 2007, with the passing of the Medicare Modernization Act in 2003 and the Affordable Care Act in 2010 by Congress, Medicare has placed a surcharge, known as the Income Related Monthly Adjustment Amount (IRMAA), on top of the current Medicare Part B and Part D premiums for those retirees who earn too much income. […]

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2019 Medicare Board of Trustees Report

The 2019 Medicare Board of Trustees Report has been released and the following is a breakdown of what can be expected in the future from Medicare, through at least 2028. The data is courtesy of the 2019 Medicare Board of Trustees Report. Part A: The Part A Deductible is expected to inflate 3.53% annually. The […]

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You need an Annuity: the reason federal regulations

There is plenty of financial advice screaming that you should stay away from Annuities, but the truth, when you apply federal regulations, is the simple fact that, yes, if you are relying on Social Security in any way you need an Annuity. The reason is quite simple: due to federal regulations your Social Security benefit […]

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You may be better off smoking than investing into a Traditional IRA or 401(k)

It’s not up for debate, smoking is bad for you. It leads to cancer, harms every single organ in the body and has become somewhat expensive as well, but when planning for retirement you may be better off smoking than investing into a Traditional IRA or 401(k). Sounds ridiculous, we know, but with the understanding […]

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U.S. Debt is over $20 Trillion…don’t worry about it, you will pay it down…really.

It is being reported that the U.S. debt is over $20 Trillion and for many there is a belief that there is no turning back as there would appear to be no ability to even attempt to pay off this huge amount let alone some of it…unless of course there are some reform to how our nation’s […]

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