Managing your retirement income and Medicare costs can be confusing. For instance:
That’s where a little planning can help. Many people can avoid entering a higher premium bracket just by managing their income. One way is to take a higher percentage of income in retirement from sources not subject to the MAGI calculation, such as qualified retirement plans, or the cash value from certain life insurance contracts. And once you reach age 70 ½, qualified charitable distributions are another alternative to help reduce your MAGI.
If you’d like to learn more about managing Medicare premiums or other expenses in retirement, including long-term care costs not covered under Medicare, call today for a consultation.
This communication is designed to provide accurate and authoritative information on the subjects covered. It is not, however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.