Learning Center

Will I Be Eligible for Medicaid?

Medicaid is a federally regulated, state-run health care program in the United States that provides coverage to over 72 million men, women, and children who cannot afford private health care or Medicare. Medicaid was established in 1965 and is now the largest health care provider for people of low income…

Does Social Security pay for cremation?

While reviewing “Your Social Security Statement,” the document available on the Social Security Administration (SSA) website, you may notice a section for survivors and wonder if the Social Security Administration covers any funeral expenses. The short answer is no; however, there are survivor benefits that may help. Social Security eligibility…

Does 401(k) Count Against Social Security?

Individuals newly eligible for Medicare benefits and Social Security payments are in a unique situation compared to their parents’ generation. Aside from government employees and a few private corporations, many people in their 60s today joined the workforce when pensions were being phased out and replaced with 401(k) plans. The…

How Much Does Medicare Cost at Age 62?

Medicare was signed into law by President Lyndon B. Johnson in 1965. The program was designed to provide insurance coverage of hospital expenses through Part A, and of medical costs through Part B. Medicare covers senior citizens aged 65 and older and younger individuals with specific disabilities. Medicare is available…

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Does Medicare Cover Telehealth During the COVID-19 Pandemic?

COVID-19, commonly called coronavirus, has brought telehealth to the forefront of conversations regarding doctor appointments. This form of health care is nothing new, and, in fact, a non-profit association founded in the U.S. in 1993 has been dedicated to this type of service. American Telemedicine Association (ATA) is comprised of…

What Does Medicare Mean on my Paycheck?

When Medicare was enacted as a federal law in 1965, the funds to support the program became a payroll tax on earned income. The payroll taxes required for the Federal Insurance Compensation Act (FICA) are to support both your Social Security and Medicare benefits programs. Your employer makes a matching…

How Does Social Security Work for Married Couples?

When most people reach their 60s, they start thinking about their retirement benefits from Social Security. For married couples, there are advantages to making decisions about retirement as a couple, rather than as individuals. Taking into consideration joint life expectancy, future plans, and your household budget, you can make some…

How Does Medicare Part B Work with Private Insurance?

Though we associate Medicare with retirement, many people work past the age of eligibility for Medicare benefits. Working later is getting more common. Whether it’s for financial reasons or because you enjoy your career, working until age 70 is more common than it was for the previous generation. Retiring at…

How does Medicare calculate income?

The majority of Medicare beneficiaries qualify for Medicare Part A coverage at no cost, depending their contribution through taxes while working over a period of time. For those who have paid Medicare taxes for under 40 quarters, a monthly premium is charged. In 2020, the premium may be as low…