Jester Insights

Massachusetts Fiduciary Rule – what it means to the financial industry

Recommending investing in a tax deferred account to receive a tax break today, may wind up landing advisors in courts tomorrow. The foundation of financial plans is traditionally anchored in amassing qualified dollars. The unintended consequence of amassing those dollars is a direct increase in the cost of Medicare, a subsequent erosion of Social Security […]

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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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That Traditional 401(k) is bad for your health

The alarm has been sounded, we have been told that Social Security retirement may go bust and this has prompted a renewed call for employees to utilize Traditional 401(k) plans in order to save more for their retirement. The question though; What if that Traditional 401(k) plan winds up being bad for your health? Yes, Traditional […]

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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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The rules of retirement have changed

There are 4 distinct federal regulations that have altered how financial plans will impact a person’s health coverage and their Social Security benefit in retirement. Ultimately, the rules of retirement have changed. 1. You have a mandatory expense in retirement. Due to a regulatory change in the Program Operations Manual System of Social Security, in […]

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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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