Medicare Considerations
for Financial Planners
An advisor-focused reference
for clients approaching age 65
Why Medicare Matters in Financial Planning
Medicare decisions are often made outside the financial planning process, yet they can materially affect retirement outcomes. Coverage timing, income-related costs, and enrollment decisions can influence:
- Client expectations and confidence
Medicare is not automatic, and certain decisions are difficult or impossible to reverse.
Common Medicare Risk Areas
Financial planners most often see issues arise from:
- Timing errors when clients retire or leave employer coverage
- IRMAA surprises following income events near retirement
- Coverage misalignment with physicians, prescriptions, or travel needs
- Permanent penalties caused by missed enrollment windows
These issues frequently surface after the financial plan is already in place.
When Medicare Should Be Flagged
Medicare planning should enter the conversation when a client:
- Is within 12 months of turning 65
- Is retiring or transitioning out of employer health coverage
- Has experienced a significant income event (sale, bonus, Roth)
Early awareness helps prevent downstream cleanup.
The Advisor’s Role
Financial planners do not need to:
- Interpret Medicare regulations
- Manage enrollment mechanics
The advisor’s role is to identify when Medicare timing and coordination matter, not to manage the details.
Why a Medicare Specialist Can Add Value
A dedicated Medicare specialist can help:
- Educate your clients on Medicare tradeoffs
- Coordinate enrollment timing with the financial plan
- Handle enrollment accurately and compliantly
- Preserve the advisor client relationship
The goal is to support the plan — not disrupt it.
