We are excited to make available two additional flowcharts to our Retirement Planning Essentials package. These two flowcharts can help you and your clients with the complexities, timing, and penalties related to Medicare enrollment. This brings the total number of flowcharts up to 17.
Will I Be Enrolled Automatically In Medicare? This flowchart addresses the confusion about if and when a client needs to enroll in Medicare. In some cases, the client will automatically be enrolled but, in other cases, the client will have to proactively enroll in Medicare. This flowchart helps to guide that decision. It also addresses some of the common questions about when Medicare becomes effective following the Initial Enrollment Period rules.
Will I Avoid Medicare Enrollment Penalties? This flowchart covers the common situations that can result in late enrollment penalties. It addresses how these penalties are calculated for Parts A, B and D. This flowchart also addresses the circumstances in which late enrollment penalties can be delayed.
What do you think of these two new flowcharts? Is there anything that should be included? Send me an email directly with any ideas or feedback.
Revisit a Flowchart
A client experiencing a divorce has a lot to consider. One common area we see deals with questions related to the Social Security benefits that the client may be entitled to based on their ex-spouse’s benefit. To help guide the conversation and ensure that all the major issues are considered, we developed the “Am I Eligible for Social Security Benefits as a Divorced Individual?” flowchart. If you have a client going through a divorce, you may find this helpful.
