ZARZA We are Zarza, the prestigious firm behind major projects in information technology.
Listen "How Medicare Relates to Social Security"
Episode Synopsis
Identifying the right start dates for Social Security depending on your unique situation, when your Social Security benefit will send you your first check based on your birthday, and IRMAA cost strategies.
Every month I take an episode of “Retirement Revealed” to answer listener questions about retirement, Social Security and real life financial scenarios that I think other listeners could benefit from exploring. This month, we dive into a topic I recently produced a video on–which I’ll provide a link to below)–a clarifying question about Social Security income related to Medicare and a closer look at income-related monthly adjustment amount (IRMAA).
0:45 – Social Security Scenario: I turned 67 in January. My wife will be 62 in October. She does not have Social Security on her own. We both expect to live to 82. When should we each start?
The optimal timing for claiming Social Security benefits takes into account individual life expectancies rather than relying solely on averages. I recommend people use a service like www.longevityillustrator.org to find your own personalized life expectancy estimate. Another important thing to keep in mind is the strategy that can come into play for couples with an age gap. You may be able to maximize your survivor benefit by delaying one of your benefits.
5:08 – SS + Medicare Question: I will claim Social Security when I turn 70 on Dec. 22. Will I receive my first check in December or January? Will my Medicare come out of that?
Social Security benefits are typically paid the month after your birth month. You have to have lived through your Social Security month in order to collect your first check. Medicare operates similarly–and yes, it is taken out of your Social Security. If you’re taking Medicare but you aren’t yet on Social Security, you’ll have to set up a different way to pay for Medicare. One way that works for many people is using “Medicare Easypay” and have your payment automatically deducted from your savings or checking account.
9:09 – Income-Related Monthly Adjustment Amount (IRMAA): We have to pay extra for Medicare this year. Is it every year? How is it calculated and can I avoid that?
When dealing with IRMAA, it’s important to proactively plan your income to minimize costs. IRMAA income thresholds are calculated based on your income 2 years prior, and if your income is higher than the threshold, you pay more for your Medicare coverage. Knowing this threshold is $120,000 in income for a single person and $206,000 for a married couple allows you to plan ahead with how you structure your income and avoid paying that extra amount for Medicare on an annual basis.
If you’ve got questions you’d like to have answered in a future episode of “Retirement Revealed” be sure to fill out the information on the yellow box to the right of this post.
Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes!
Subscribe to Retirement Revealed to get new episodes every Wednesday.
Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337
Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify
Additional Links:
Longevityillustrator.org
SSA: The United States Social Security Administration
How to Know When to Start Social Security – Mr. Retirement Video
Connect With Jeremy Keil:
Keil Financial Partners
LinkedIn: Jeremy Keil
Facebook: Jeremy Keil
LinkedIn: Keil Financial Partners
YouTube: Retirement Revealed
Book an Intro Call with Jeremy’s Team
===
Disclosures
Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.
All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.
This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.
The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.
Legal & Tax Disclosure
Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.
Advisor Disclosures
Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.
Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.
The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.
For important disclosures visit: https://keilfp.com/disclosures/
===
Every month I take an episode of “Retirement Revealed” to answer listener questions about retirement, Social Security and real life financial scenarios that I think other listeners could benefit from exploring. This month, we dive into a topic I recently produced a video on–which I’ll provide a link to below)–a clarifying question about Social Security income related to Medicare and a closer look at income-related monthly adjustment amount (IRMAA).
0:45 – Social Security Scenario: I turned 67 in January. My wife will be 62 in October. She does not have Social Security on her own. We both expect to live to 82. When should we each start?
The optimal timing for claiming Social Security benefits takes into account individual life expectancies rather than relying solely on averages. I recommend people use a service like www.longevityillustrator.org to find your own personalized life expectancy estimate. Another important thing to keep in mind is the strategy that can come into play for couples with an age gap. You may be able to maximize your survivor benefit by delaying one of your benefits.
5:08 – SS + Medicare Question: I will claim Social Security when I turn 70 on Dec. 22. Will I receive my first check in December or January? Will my Medicare come out of that?
Social Security benefits are typically paid the month after your birth month. You have to have lived through your Social Security month in order to collect your first check. Medicare operates similarly–and yes, it is taken out of your Social Security. If you’re taking Medicare but you aren’t yet on Social Security, you’ll have to set up a different way to pay for Medicare. One way that works for many people is using “Medicare Easypay” and have your payment automatically deducted from your savings or checking account.
9:09 – Income-Related Monthly Adjustment Amount (IRMAA): We have to pay extra for Medicare this year. Is it every year? How is it calculated and can I avoid that?
When dealing with IRMAA, it’s important to proactively plan your income to minimize costs. IRMAA income thresholds are calculated based on your income 2 years prior, and if your income is higher than the threshold, you pay more for your Medicare coverage. Knowing this threshold is $120,000 in income for a single person and $206,000 for a married couple allows you to plan ahead with how you structure your income and avoid paying that extra amount for Medicare on an annual basis.
If you’ve got questions you’d like to have answered in a future episode of “Retirement Revealed” be sure to fill out the information on the yellow box to the right of this post.
Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes!
Subscribe to Retirement Revealed to get new episodes every Wednesday.
Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337
Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify
Additional Links:
Longevityillustrator.org
SSA: The United States Social Security Administration
How to Know When to Start Social Security – Mr. Retirement Video
Connect With Jeremy Keil:
Keil Financial Partners
LinkedIn: Jeremy Keil
Facebook: Jeremy Keil
LinkedIn: Keil Financial Partners
YouTube: Retirement Revealed
Book an Intro Call with Jeremy’s Team
===
Disclosures
Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.
All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.
This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.
The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.
Legal & Tax Disclosure
Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.
Advisor Disclosures
Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.
Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.
The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.
For important disclosures visit: https://keilfp.com/disclosures/
===
More episodes of the podcast Retire Today
7 Year-End Money Moves Before December 31
10/12/2025
In God we trust