Social Security & Medicare

Upon completion of this course you will be able to explain the basic structure of the system to clients and provide them with additional resources they can use to find out more information. You will be able to guide clients through the process of applying for Social Security benefits and inform them about the various health insurance benefits they are eligible for under Medicare.

Participants will be able to provide married couples with strategies to receive the maximum benefit as well as planning advice on when clients should begin to withdraw their benefits. You will be able to explain divorce issues to clients, as well as when they are eligible for benefits, how their benefit amount is determined, and when they will qualify for survivors benefits. You will be able For most Americans the decision to take Social Security is the 2nd biggest financial decision of their life after buying a home. The constantly changing rules, the income tax interaction with benefits, retirement, disability and Medicare makes this an inter-related decision of tax compliance, planning and decision making. This course discusses the taxability of benefits at the beginning, and then examines the myriad rules for qualifying income, divorce, disability, survivors and children’s benefits and how they are determined and taxed. It concludes with a discussion of what kind of taxable income provides Medicare coverage, what Medicare covers (and doesn’t) and tax related deductions for premiums, co-pays and supplemental insurance plans.