Broker Check

Social Security and Medicare Planning

Social Security benefits have become an increasingly important source of income during retirement, and the decisions about when and how to take them have become increasing complex as well. Claiming benefits before your Full Retirement Age (FRA) can permanently reduce your benefits, while delaying benefits beyond your FRA can increase your benefit by 8% per year.

Retirement Benefits:

  • Estimate individual benefits to maximize the benefit of a higher-earning spouse

  • Evaluate impact of file and suspend strategy for both married couples and individuals

  • Develop strategies to minimize reduction of retirement benefits when a government pension or foreign pension triggers the Windfall Elimination Provision

Spousal and Survivor Benefits:

  • Estimate benefits and evaluate use of a restricted application to file for spousal benefits for married and divorced individuals

  • Coordinate spousal and retirement benefits to maximize lifetime benefits for married couples

  • Recommend timing strategies that optimize the coordination of survivor benefits and retirement benefits

  • Advise on strategies to minimize the reduction of spousal and survivor benefits when a government pension triggers the Government Pension Offset rule

Disability Benefits:

  • Coordinate benefits with Medicare and private disability policies

  • Recommend timing strategies to optimize benefits