Advising Clients Taking Medicare?

[Liz]

can you talk about the steps that you take in advising a client who is approaching the age where she or she might take medicare / social security? what factors do you look at? what tools do you use to help you make those decisions?

 

[Chazm]

It's more about education. Educate them on the basics of Medicare. Once they start conversing with you it's pretty easy to tell what they want.

 

[axeman462]

can you talk about the steps that you take in advising a client who is approaching the age where she or she might take medicare / social security? what factors do you look at? what tools do you use to help you make those decisions?

Some of the biggest factors I have them look at:

- current coverage
- will employer offer coverage when retiring? (if so, compare apples to apples)
- Income after retiring (pension, 401K, savings, annuities, SS etc..)
- health
- plans for retirement (travel, location to live, lifestyle etc..)

I bassically write it all out on paper, the options they have, and let them look at it side by side. Cant plan a retirement if you dont know what to expect...