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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.

Resolving Delayed Widowā€™s Benefits and Medicare Premium Adjustments annual earnings test (aet) hey marc! medicare widower benefit Apr 10, 2023

My client, Jan, retired March, 2022.  She was born 9/1956.  She earned $118k Jan-March, 2022.  She is a widow and planned to collect on her husband’s benefit until she turns 70 and will collect on her own benefit.  She met with Social Security last March and was told she...

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Key Insights from the 2023 Social Security Trustees Report hey marc! Mar 24, 2023

What do I need to know about the 2023 Trustees report?

The Social Security Administration (SSA) recently released the 2023 OASDI Trustees Report, providing important insights into the financial status of the Social Security Trust Funds. Here are the key highlights from the report:

  1. Deficit...

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How to Update Second Factor Authentication for My Social Security Account hey marc! Mar 14, 2023

We have a client who called SSA. My primary question is how could the client be getting the exact same amount of Benefit if he files in November compared to filing at FRA this past July. To me it doesn’t make sense but she swears she called three times. Three SSA representatives, and they...

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Can a Divorced Spouse Claim Ex-Spousal Benefits and Delay Their Own? deemed filing delayed retirement credits (drc) divorce hey marc! spousal benefit boost Mar 08, 2023

I just wanted to clarify my last email and I thank you so much for your expertise and help. I have a sixty-two-year-old woman who was married to a gentleman for over fourteen years they divorced ten years ago.  She never remarried, he did. He is now seventy-two and drawing Social Security...

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Social Security Benefits for a Child with Autism When Parents Retire or Pass Away hey marc! primary insurance amount (pia) Mar 08, 2023

I have a potential client who has a 21-year-old with autism and will never be able to work. The question is if one or both parents were to die does any of their benefit go to pay the cost of his care? They both are 60 years old and have saved a good bit of money to be able to retire but they are...

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Understanding Deemed Filing and Spousal Benefits After Claiming Early deemed filing hey marc! Mar 01, 2023

A client claimed her own benefit when she turned 62 last year. Her ex turned 62 this year which qualifies her for a greater spousal benefit. When she called Social Security to claim off her ex, the representative recommended she defer spousal for a larger future benefit. This doesn’t seem...

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Do Social Security Statements Include Delayed Retirement Credits (DRCs)? delayed retirement credits (drc) hey marc! Feb 22, 2023

Do Social Security statements include DRC’s?

Yes, Social Security benefit statements do include Delayed Retirement Credits (DRCs). DRCs are earned when you delay taking your Social Security benefits beyond your Full Retirement Age (FRA). For every month you delay taking benefits past FRA,...

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Social Security Benefits and Earnings Test After Retirement earnings test hey marc! Feb 15, 2023

My birth date is 4/30/58. I will retire at 65 and one month 5/31/23, prior to full retirement age. From 1/1/23 to 5/31/23, I will earn $150,000 earned income. After 5/31/23, I will never have any further earned income. If I elect SSA benefits 6/1/23 will I have any reduction in benefits due to...

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Social Security Benefit Statements and the 8.7% COLA Adjustment cola hey marc! Feb 01, 2023

Have the benefits on the Social Security statement been adjusted for the 8.7% COLA?

Yes, the Social Security benefit statements have been adjusted to include the most recent 8.7% Cost of Living Adjustment (COLA). This means that the benefit amounts shown on the statements reflect the increase...

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Military Service Wage Credits and Medicare Requirements for Postal Workers hey marc! medicare military part b Jan 20, 2023

I read an article that says that someone with a military background, mostly National Guard or Reserve forces, are eligible for additional SS wage credits added to their earnings record.

This was new to me but what I found was it looks like there was legislation passed in 2022 regarding Postal...

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