Medicare is a HUGE financial planning topic. But look around at the CFPs that are out there. How many are writing or even discussing Medicare? The answer is very few, which is quite unfortunate.
So, today it is my pleasure to bring on a true professional in all things health care, longevity planning and Medicare, Rob Klein.
Rob’s been focusing on Medicare and longevity planning for over 10 years. He’s just a wealth of information that you NEED to hear.
There is simply no escape from the rules of Medicare, like it or not. You need to understand how you will be affected now, and certainly when you retire.
Don’t get caught off guard with higher fees, premiums, taxes etc.
Rob shares with us some strategies on how to deal with the alphabet soup that is Medicare. Ignorance is not bliss. Empower yourself with the education that Rob provides on this podcast.
Rob can be contacted here: 888-383-2724
Song of they day – Aaron Lewis Massachusetts
This is a topic that does make me mad. Current tax law penalizes widows for being frugal and saving assets in their retirement accounts.
How so, you ask? Just look at the tax code! What’s the premium levels for Medicare Part B and D? Have they been indexed for inflation over the last 10 years? Nope.
Are they based on TAXABLE or MODIFIED INCOME? Modified.
Why is that a big deal? Because MAGI is before any deductions PLUS tax-exempt interest is included in the mix too.
So, a widow with any decent size IRA not only finds herself with more taxes to pay, much more by the way, but also a significant increase in Medicare Part B and D premiums!
Hey, I have a ‘progressive’ tax idea, why don’t we go after the most vulnerable in our society, widowed women who no longer have the ability to change their tax planning. Only makes sense, right???
Yeah, I am being sarcastic.
You want to make Medicare more solvent? Fine. Go after those who can still plan their finances accordingly. But don’t go hit taxpayers after the fact, when they are old, alone and can’t change their planning.