Government Benefits

Understand How These Programs Can Impact Your Retirement

It's important to consider government benefits – such as Social Security and Medicare – within your overall retirement plan, as these programs can affect you in terms of income, insurance protection, and taxes.

Social Security began in 1935 as a means to provide income to those in retirement. A few years later, it expanded to afford protection to worker's families. In 1956, disability benefits were added. And, in 1965, the Medicare program was established as an offshoot of the Social Security plan.

Most individuals can't take advantage of their Social Security benefits until they've reached the age of 62. However, some may start receiving their payments earlier, including those who are widowed or legally considered disabled. Others, though, may want to delay receiving their benefits as long as possible.

Medicare is a federally sponsored health insurance program for those who are at least 65 years old. But, it can also aid those who have received Social Security benefits for at least two years, as well as individuals in other situations.

The Medicare program is divided into four basic parts:

  • Part A – Hospital coverage (premium-free)
  • Part B – Medical insurance
  • Part C – Medicare Advantage
  • Part D – Prescription drug insurance

It's difficult for most to understand the nuances – and implications – of both Social Security and Medicare benefits. But, these programs can have a considerable impact on your retirement situation, including in ways you might never have thought about.

That's why it's smart to consult with a financial planner who's knowledgeable about these programs, and can build a retirement plan with them in mind.

Let Emerging Insurance Brokerage Services design a retirement strategy for you that incorporates government benefits.

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Noori Insurance Agency, Inc.
DBA: Emerging Insurance Brokerage Services

37371 Fremont Blvd Ste B.
Fremont CA 94536

tel 510-796-4929
fax 510-796-4928