In this Ask the Hammer episode, a reader asks:
“I'm 58 and my husband is 61 and we're doing some Roth conversions right now in an effort to create some tax-efficient income for us in retirement. I am the higher earner of us two, and I've read that my husband will have to sign up for Medicare when he reaches 65, even though he's on my health insurance, and they will base his monthly premium on our combined income. Is that true? That would be concerning if so, because of our relatively high income, and we would be hit with the income related monthly adjustment amount.”
Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners, met with Robert Powell, editor of Retirement Daily, to answer this question.
Jeffrey and Bob discuss the factors that determine whether one needs to sign up for Medicare and what and how those premiums are calculated.
Watch the full episode to find out the answer to this reader's question.
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