November, 2021

Social Security November Newsletter

Social Security Spotlight: More Medicare Explained
NARSSA | Social Security Newsletter | November 2021
November 2021 Newsletter


Top Stories  

Source: NextAvenue
Martha Shedden and other experts in the field share their opinions on the newly redesigned Social Security statements.
Source: ThinkAdvisor
Congress recently introduced the Social Security 2100: A Sacred Trust bill. ThinkAdvisor reporter Ginger Szala asked Martha Shedden to share her thoughts on the bill and to explain more about the changes it would bring.
Source: TheStreet
While there is a 5.9 percent COLA increase coming to Social Security benefits in 2022, there are other factors that can potentially undermine the COLA’s power; an increase in Medicare B premiums and an increase in benefits subject to income tax. Robert Powell of TheStreet asks Martha Shedden to comment on these factors.
Source: ThinkAdvisor
“Financial advisors who have Social Security expertise are in an excellent position to add value to their current clients, increase referrals and reach a large segment of the retiree demographic who may not yet work with a financial planner.” Read Martha Shedden’s latest contribution to ThinkAdvisor.


Catch up with Devin


In this video, Devin Carroll, RSSA discusses how inflation affects Social Security. Watch now.



In this video, Devin Carroll, RSSA covers why the Social Security Administration may recalculate a benefit and explains the impact it could have on your monthly benefit amount. Watch now.


Ask Martha  

Question: Can my minor children collect Social Security benefits based on my ex-spouse’s earnings if he has not started collecting?
Answer: Yes, minor children may be eligible for benefits based on an ex-spouse’s work record even if the ex-spouse in not yet collecting their retirement benefit. With both ex-spousal benefits and child’s benefits, if you have been divorced for two or more years than you are considered “independently entitled” and the ex-spouse does not need to be collecting. However, the spouse who has custody of the children must be collecting benefits at the same time…Read the full response or ask Martha your own question.


Social Security Spotlight: More Medicare Explained


In our October 2021 newsletter, we covered the Medicare basics. In this newsletter, we dig a little deeper.

What are the different “parts” of Medicare? Medicare has four different programs or “parts.” Parts A and B are the core of the Medicare program. Part A is called hospital insurance and Part B is known as medical insurance. Part C consists of Medicare Advantage plans and Part D is drug and prescription coverage.

Do I need to be collecting Social Security to get Medicare? No. If you are already receiving Social Security benefits, you will automatically be signed up at age 65 to receive Medicare (Part A and Part B). If you are not receiving Social Security benefits by age 65, it is your responsibility to enroll in Medicare. Your initial enrollment period begins three months before your 65th birthday (including the month you turn 65) and ends three months after that birthday.

Can I enroll in Medicare early? Unfortunately, no. Even if you begin collecting Social Security at age 62, you must wait until you are age 65 to begin Medicare. The exception is for younger people with certain disabilities or diseases.

Can you qualify for Medicare from a spouse? Yes. Just as you may be eligible to collect Social Security spousal benefits based on your spouse’s earnings record, you can also qualify for Medicare from your spouse too. However, even if your spouse is 65 or older, you must wait until you are 65 to enroll in Medicare.

Just like Social Security, Medicare can be complicated. Learn more about Medicare here.


Listen up: Podcasts by the RSSA Team  

Social Security: Answers From The Experts

Each week, Martha Shedden meets with financial experts to discuss important issues on Social Security and retirement planning. Her guests include Mary Beth Franklin, Larry Kotlikoff, and more. Listen now.


The Devin Carroll Show

The Devin Carroll Show sponsored by NARSSA is a caller-driven show that helps you simplify the complicated Social Security rules so you can get every dollar in benefits you deserve. Listen now.


Medicare Update  

Medicare Open Enrollment period began on Friday October 15, 2021 and closes on December 7, 2021. Learn about preparing for your 2022 selections here.


Consult with an RSSA to optimize your benefits  

Most people make a sub-optimal filing decision, losing out on money they are entitled to. An RSSA can help you optimize your Social Security benefits and support you in making the best decisions for your personal situation. Request a consultation today. Get help now.


Train to become a Social Security expert  

Are you a financial or state-licensed professional? Download our free white paper and discover the benefits of becoming a Social Security expert and offering Social Security advisory services to your clients. Ready to sign up for our self-study program? Sign up now.


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