The Benefits Blog

The Benefits Blog provides expert insights, updates, and strategies on Social Security and Medicare, tailored for financial professionals looking to enhance their knowledge and better serve their clients. Stay informed with the latest developments and tips to maximize benefits for your clients.

Earnings Limit and Widow(er) Benefits: What You Need to Know earnings test full retirement age (fra) hey marc! widower benefit Sep 16, 2020

We have a client who is 61 and was recently widowed.  She is still working, and not sure about her official retirement. Can you refresh my memory on how they rectify benefits if she begins collecting and then exceeds the earnings limit? I seem to remember it eventually being adjusted for any months ...

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Will a Survivor Government Pension Affect Social Security Benefits? government pension offset (gpo) hey marc! windfall elimination provision (wep) Sep 08, 2020

I believe that I am WAY overthinking this, but I have a situation where a client (John) is collecting a government pension of $90k/annual – no SS benefits, a government job his whole life.  Hi spouse (Jane) worked and is collecting SS of $2,300/month. There is a survivor benefit payout of 60% for th...

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Understanding Retroactive Social Security Benefits and Why They May Not Be Offered Automatically full retirement age (fra) hey marc! retroactive benefits Aug 05, 2020

I applied for benefits in December, 2023 at age 68.  A friend turned 67 on January 23rd, 2024.  He will pull his SS shortly; however, he will receive a lump-sum payment of $15,000 for 6-months of Retroactive Benefits. (Marc – Not sure if 6 months is available as retro period cannot precede FRA.)  My...

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What Happens to Medicare Premiums If Social Security Benefits Are Withheld? hey marc! medicare Jul 08, 2020

We have a client who is planning to go back to work and will be earning over the limit for the annual earnings test. He understands that SSA will reduce his benefits in the first months of the calendar year based on the estimated earnings he reports. His question to me is what happens with his Medic...

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How VA Disability Benefits Affect Your Social Security Payments hey marc! va va disability veteran’s benefits Jun 10, 2020

The VA has determined that I am now entitled to disability benefits as a result of my service in Viet Nam. My question is how these new benefits will affect my current payments of Social Security Benefits.  Currently my monthly benefits are;  Social Security monthly payment $3,600.90 minus my medica...

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Filing Social Security Benefits as a Divorced Spouse divorce ex-spousal benefit hey marc! Jun 01, 2020

It’s been several years since I’ve had a divorcee! Since the rules changed regarding spouses where one cannot file and suspend and must file for benefits for the other to file on their record, does the same hold true for ex-spouses? Are there any other requirements that I should know about?

For div...

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How to Correct a Social Security Card with an Incorrect Middle Name hey marc! May 01, 2020

A woman who is about a year out from collecting Social Security had a problem of her own making when she was a young girl. When she was in school, they handed out the forms in Catholic Schools to apply for a Social Security card. Her parents had never given her a middle name, and having gone to Cath...

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Dealing with Double Medicare Billing After Starting Social Security Benefits hey marc! medicare Apr 03, 2020

I have a client who began her benefits in September, with her first check being this month. Prior to receiving SS benefits, she was paying for Medicare via check. She paid for her November benefits this month but received her statement from Social Security and they are withholding Medicare payments ...

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When Should a Spouse Start Drawing Social Security? Understanding Spousal Benefits and Widow Benefits full retirement age (fra) hey marc! primary insurance amount (pia) spousal benefits Mar 25, 2020

Client – I’m trying to figure out when we should think about Katie starting to draw a social security. I’m now 70 and have started drawing (I delayed until I reached 70) and she’s now 64 (Date of Birth: 8/18/1959). If she were to file at her full retirement (which would be at 66 years and 10 months ...

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Is Tax Withholding Required on Social Security Benefits? hey marc! Jan 29, 2020

A client of mine was told she had to have taxes taken out of her SS.  I don’t think the source of information was very reliable and wanted to ask you.    She started receiving widow benefits in February which is when she reached her FRA.  She receives a small pension and still works FT but only make...

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