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TheĀ 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.

Medicare Reinstatement After Incarceration: Is There a Penalty? hey marc! medicare Jul 12, 2023

Does a person pay a penalty when they re-enroll if they lose their Medicare status upon incarceration?

No, there is no penalty for re-enrolling in Medicare after losing Medicare status due to incarceration. Here’s how it works:

  1. Medicare Suspension:

    • During Incarceration: Medicare benefits...
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Understanding SSDI and SSI for Special Needs Adults: Parent's Role hey marc! social security disability social security disability insurance (ssdi) Jul 04, 2023

I am working with parents of a special needs adult child. An attorney has advised the family that one of the parents needs to collect their SS benefit for the son to receive SSDI. That does not sound correct to me…is it?

The attorney’s advice might be based on a misunderstanding....

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Can Grandchildren Receive Social Security Benefits Under Grandparents' Custody? full retirement age (fra) hey marc! Jul 03, 2023

We have a client that is at FRA and plans to begin collecting benefits. She (and her husband) are primary caregivers of their two grandchildren both under the age of 16. They have a “split” custodial agreement for their grandchildren. They have primary custody at 51% and the remaining...

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How to Preview the Social Security Benefits Application Process hey marc! Jun 22, 2023

I think this may have been discussed on a previous webinar, but is there any way to “see” how the filing for benefits looks?  I have clients that have asked questions about the application process and seeing what they are walking through would be super helpful. Not sure if that...

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How to Contest a Social Security Reduction Due to a Government Pension hey marc! windfall elimination provision (wep) Jun 08, 2023

I have the fire chief asking me how to contest the reduction in his SS due to his Gov’t pension. Is that even possible? He is single and retiring in 2024 will be age 59. He has worked and you already provided how his WEP reduction affects his benefit. 

If your fire chief client is...

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Understanding Income Limits for Social Security Benefits and Earned Income hey marc! military pension May 25, 2023

A client born Dec of 1958, turning 65 in Dec. He has been drawing SS benefits since November, 2022. This year he has earned $20k in working part time income. PLUS $2k in a military pension, $152/month in military disability, and $480/month in a pension from another company.  Will the client...

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How Social Security Credits Are Earned: A Guide to Eligibility? earned income credits hey marc! May 10, 2023

How do I figure out Social Security credits – is it strictly based on time/quarters worked?

Social Security credits are not based strictly on time or quarters worked; instead, they are earned based on income. Here’s how it works:

  1. Earning Credits:

    • Income-Based: In 2024, you earn one...
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Can You Suspend Social Security Benefits After Starting Them? full retirement age (fra) hey marc! suspend benefits May 08, 2023

Do you know whether someone receiving SS benefit can suspend their benefit – basically stop the payments and resume them at a later time.  You used to be able to do this, but I’m wondering whether SSA put limits on this.  I have someone needing to reduce their income for the...

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Understanding the WEP Reduction for Early Social Security Benefits full retirement age (fra) hey marc! windfall elimination provision (wep) Apr 28, 2023

How is WEP reduced benefit computed if beginning SS prior to FRA?

When calculating a Social Security benefit that is subject to the Windfall Elimination Provision (WEP) and is being taken before Full Retirement Age (FRA), the reduction is a two-step process. First, the WEP reduction amount is...

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How to Appeal a Social Security Repayment Request for December Benefits hey marc! Apr 12, 2023

I have a client that is being told to repay Dec 2022 Social Security payment. He did not work in Dec 2022 (the month he began SS). The SSA 561 doesn’t seem like the right form. But I can’t find anything else. How can he apply for this appeal?

If your client is being told to repay...

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