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March 2009 » Retirement Planning
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Charles Alvis, CPA/PFS, and David Meeting, DBA, CPA, and Michael Cornick, PhD
As individuals approach retirement, their accountants should incorporate Medicare Part B costs into a total retirement plan. While those nearing retirement usually focus on Social Security benefits and whether to take the benefits early, Medicare Part B costs are often overlooked, as Medicare is often considered a “free good.” But Medicare Part B is not a free good, so individuals should be aware of its premium and deductible costs and how those costs can affect them.
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