Life After Work - Using Social Security to Pay for Health Insurance
Social security is available (for now). Assuming you are eligible, what is the best age to start receiving benefits? The fact is, there is no single "best age" for everyone. Ultimately, it's your choice. Your most important responsibility is to make an informed decision, factoring individual and family circumtances.An informed decision starts with identifying your full retirement age. Your...
Countdown to 65 - Your Medicare Checklist
Medicare can be complicated. A good plan, and expert counsel from the ABA Insurance Program, can help alleviate much of the uncertainty and ensure you receive the best coverage and cost for your unique needs. This checklist will help you stay on track as you approach your 65th birthday.6 Months Prior To Your 65th Birthday Understand the fundamentals of Medicare Parts A, B, C and D Confirm...
Your Income and IRMAA
Your income may impact what you pay for Medicare, thanks to a 2003 provision called the income-related monthly adjustment amount (IRMAA). In most circumstances, the government pays roughly 75% of your Part B and/or Part D coverage. IRMAA, designed to strengthen the financial stability of Medicare, shifts a portion of the government cost to those who earn more. Medicare enrollees with a modified...