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Discover How Healthcare Will Reduce Your ​Social Security Benefit

​Learn to avoid the hidden pitfalls that could jeopardize your benefit

Are You Ready to Run a Report and See the Pitfalls — Start Planning Now!

Planning for Healthcare Through Retirement

Too often people who are planning for their future aim to cover basic living expenses during retirement on a fixed income. Unfortunately, the costs of healthcare during retirement can put stress on a fixed income.

Retirement planning has many pitfalls, including the lack of attention put towards the financial strain of mandatory healthcare costs. With proper planning now, you can adapt a financial strategy to meet all of your needs throughout retirement and well into your later years.

Run a Report and Adapt a Financial Strategy to Meet All Your Needs

We know, it’s new and confusing information, let us try to simplify

What does traditional Retirement planning miss?

The primary struggle that many experience when planning retirement is that financial advisors and retirement plans focus on the bigger picture. They often provide a single round number that is the goal to sustain you through every month of retirement.

While having a goal is a must, this big-picture focus has let many retiree’s down. One of the most significant failures in retirement planning is allocating for healthcare costs. Most of this is due to the fact that financial planning is flawed in that it simply ignores these mandatory costs. In a nutshell it is simple to understand, the more income you have in retirement, the higher your mandatory costs.

Mandatory Healthcare Costs in Retirement

So what are our mandatory costs in retirement? Any person entering retirement should expect to have the following costs deducted directly from their social security check:

  • Medicare Part B
  • Medicare Part D (optional but suggested):

Everyone knows about Medicare, however most do not know  how you pay for it. Payments for your Medicare benefit come directly out of your social security check. So basically, if you do not Elect to take Medicare, you will either be penalized or not receive a Social Security Benefit.

How much these expenses add up to are calculated using IRMAA.

​What ​on earth is IRMAA?

Coupled with the base costs of the parts of Medicare, we also have IRMAA (Income Related Monthly Adjustment Amount).

IRMAA basically takes the amount of income you make on a yearly basis in retirement and adjusts your base premiums up or down based on how much income you have.

For example, an individual that is making under $85,000 ​a year and files with a tax status of single can expect to pay $148.00 per month in 2019 for Medicare part A. However if that same individual makes over $85,000 a year the Part B cost increases simple because they make more money.

Simple Rule of thumb. the more money you make in retirement, the more you will pay for your Medicare

Example IRMAA Brackets

Individual MAGI Couple MAGI Part B Part D
< $85,000 < $170,000 Premium Premium (varies)
$85k – $107k $170 – $214k $189.60 Premium + $12.40
To see the 3 remaining IRMAA Brackets you must purchase the full report

More about deductions from Social Security

So why should someone be concerned about Medicare/healthcare costs and their deductions from Social security?

Simple. When you retire and you start to receive your social security check, at this point Medicare deductions will taken from your social security check. Depending on your level of income IN retirement, that will dictate how much will be deducted each month from your social security check. As the years go on, more and more is taken from your social security check.

Are You Ready to Run a Report and See the Pitfalls — Start Planning Now!

What to learn more?

These costs are a bit complex which is why we made it simple with Healthcare Retirement planning Report. This Report can help you see your retirement healthcare costs based on your income and illustrate how your Social Security benefit will be affected.

Complete the simple calculator below here to get a free report with a brief explanation of your retirement healthcare options. Once you enter a few pieces of general information, we will provide a report to you for free.

This simple calculator will generate a report that you can take to your financial advisor to plan for your future with realistic expectations.

What ​People Are Saying

I was looking for a simple guide to help me understand how costs work and how it affected me. This report solved both of my needs. No on to my next steps.

Shane Melaugh, Thrive Themes

I had no idea how any of this worked and it was tough for me to find answers. The report I purchased layed out in simple numbers how I would be affected.

Jane Doe, ACME Inc.

Super easy to understand and packed with only pertinent information. Helped me wife and I cut through a lot of the fat and get right to the correct information.

John Doe, Company

I spent $10 to find out information that even my financial advisor couldn’t explain to me. I now am able to start modifying me retirement plans for the better.

Jim Doe, Company

More about deductions from Social Security

Take the next step and run a quick illustration below

Our Assumptions Your Information
Your Retirement Age 65 Current Age 30
Tax Status in Retirement Single Gender Male
Years in Retirement 20 State of Residence MA

Based on the information you selected, we can estimate that the costs are as follows:

Per month Cost, first year of retirement
Part B $134.00
Part D $51.00

Why do I need a full report?The quick calculator does not take into account important details such as types of income, coverages,longevity and over all costs. With the full Healthcare Retirement Planner report you reviece the following:- 12 page downloadable report customized to you- Explanations of coverages- Complete Breakdown and Explanations of IRMAA brackets- Descriptions of what types of income negatively impact healthcare costs. Get the full report!

This information above is only based on a few general assumptions and is not intended for planning purposes. If you are interested in a more robust and customized report based on your own personal financial situation, you can purchase a full 15 page customized report by clicking the button above.[tcb-script language=”javascript”]function testThis() {document.getElementById(“costCalculator”).style.display = “none”;document.getElementById(“theresults”).style.display = “block”;}[/tcb-script]

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