[et_pb_section admin_label=”Section” fullwidth=”on” specialty=”off”][et_pb_fullwidth_header admin_label=”Fullwidth Header” title=”He said She Said…” background_layout=”light” text_orientation=”left” header_fullscreen=”off” header_scroll_down=”off” parallax=”off” parallax_method=”off” content_orientation=”center” image_orientation=”center” custom_button_one=”off” button_one_letter_spacing=”0″ button_one_use_icon=”default” button_one_icon_placement=”right” button_one_on_hover=”on” button_one_letter_spacing_hover=”0″ custom_button_two=”off” button_two_letter_spacing=”0″ button_two_use_icon=”default” button_two_icon_placement=”right” button_two_on_hover=”on” button_two_letter_spacing_hover=”0″ subhead=”Success Story of the Month – February 2017″]
\n[\/et_pb_fullwidth_header][\/et_pb_section][et_pb_section admin_label=”section”][et_pb_row admin_label=”row”][et_pb_column type=”4_4″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid” saved_tabs=”all”]<\/p>\n
By David S Edge<\/p>\n
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While assisting many folks and couples with\u00a0 their selections of retirement planning options, we often run into pre-conceived notions about retirement, especially misinformation about Medicare. We will hear things like, \u201cWell, my neighbor told me that her mother\u2026. Or my cousin\u2019s sister told us\u2026\u201d<\/p>\n
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At times we just have to shake our heads!<\/p>\n
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Marge and George were just such folks. We spent the first thirty minutes of their appointment dispelling all the things they thought they knew about retirement. Here is a short list of items we discussed.<\/p>\n
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Marge stated they could get full Social Security retirement benefits at age 62.<\/em><\/strong><\/p>\n [spacer height=”03px”]<\/p>\n Correct answer:<\/u><\/strong> Full retirement age for Social Security is age 66. The benefit amount will be approximately 8% less for each year taken earlier. But you can take the discounted amount as early as age 62.<\/p>\n [spacer height=”03px”]<\/p>\n \u00a0George thought that he didn\u2019t have to get a Part D Prescription Drug Plan along with his Medigap plan because his HR department stated that Part D was voluntary.<\/em><\/strong><\/p>\n [spacer height=”03px”]<\/p>\n Correct answer:<\/u><\/strong> While Part D is voluntary, what his HR department rep didn\u2019t explain was that for each month he didn\u2019t have a Part D, he would be penalized later when he did add Part D. The penalty grows each month he doesn\u2019t have his Part D, and this penalty never goes away!<\/p>\n [spacer height=”03px”]<\/p>\n George\u2019s HR department told him he had to turn on his Part A of Medicare when he turns age 65.<\/em><\/strong><\/p>\n [spacer height=”03px”]<\/p>\n Correct answer:<\/u><\/strong> If you continue to work with an employer coverage plan, you do not need to do anything.<\/p>\n [spacer height=”03px”]<\/p>\n George also thought he could continue to contribute to his HSA<\/em><\/strong><\/p>\n <\/p>\n <\/p>\n [\/et_pb_text][et_pb_image admin_label=”Image” src=”https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2017\/01\/SuccessStory_Feb2017.png” show_in_lightbox=”off” url_new_window=”off” use_overlay=”off” animation=”left” sticky=”off” align=”left” max_width=”250px” force_fullwidth=”off” always_center_on_mobile=”on” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]<\/p>\n <\/p>\n [\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" By David S Edge [spacer height=”04px”] [spacer height=”03px”] While assisting many folks and couples with\u00a0 their selections of retirement planning options, we often run into pre-conceived notions about retirement, especially misinformation about Medicare. We will hear things like, \u201cWell, my neighbor told me that her mother\u2026. Or my cousin\u2019s sister told us\u2026\u201d [spacer height=”03px”] At […]<\/p>\n","protected":false},"author":1,"featured_media":6820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84,10,22,15],"tags":[96],"class_list":["post-6858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-healthcare","category-medicare","category-retirement-planning","category-savings","tag-success-story"],"yoast_head":"\n