Broker Check

JML Financial Group - Cherry Hill, NJ

 

Medicare Premiums for Higher Earning Individuals

Interesting if you've never seen the Medicare Premiums for Higher Earning Individuals report.  It's noted repeatedly that Medicare Part B (medical) premiums (normally $104/month) and Part D (prescription drug) premiums will increase according to WHAT YOU REPORT TO THE IRS.

This directly supports utilizing properly structured cash value whole life insurance as retirement income as it is not taxable.  Therefore there is no place to report the income to the IRS.  This contributes to lower overall taxable income, but may also help to keep monthly Medicare health insurance premiums lower.

This is another example of a wealth transfer away from high earners to the government.  This strategy helps recover that transfer AWAY from our own banks!

See the attached or click the link:


https://www.ssa.gov/pubs/EN-05-10536.pdf

 


Guardian or its subsidiaries do not offer Medicare or Medicaid