Archives for Medicare

Top 5 Things Baby Boomers Should Know

The Social Security COLA (cost of living adjustment) in 2019 will be 2.8%. This is the largest COLA increase from the Social Security Administration since 2012.1 Social Security benefits are often taxed. If you work and are at full retirement age or older, you can earn as much as you want and your benefits will not be reduced; however, you may have to pay taxes on them. If your annual combined income is from $32-$44,000 filing jointly, you may have to pay taxes on 50% of your benefits. If your income is more than $44,000 filing jointly, then you may
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Categories: Estate Planning, Medicare, Retirement, Social Security, and Tax Planning.

7 Things You Should Know About Medicare Before You Retire

It’s important to understand the facts about Medicare before heading into retirement. Here is a basic overview of seven things you should be aware of when it comes to this important federal health insurance benefit. But keep in mind that certain parts of the Medicare program vary by state, so you will want to get more in-depth information before you turn 65 based on your primary retirement residence. It’s not free. Even though studies have shown that Medicare is cheaper than most health plans offered by private insurers, it still does not cover all health costs when a person retires.
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Categories: Medicare and Retirement.