case studies Flashcards
Emily just told Myra that her daughter is collecting maternity benefits from Medicare. What is the best explanation for this?
Although generally the minimum age for Medicare coverage is 65, individuals who are younger are eligible for Medicare coverage if they have been collecting Social Security disability insurance payments for a minimum of 24 months.
When John learned that his monthly Medicare Part B premium will be nearly three-times higher than the amount that his brother is paying, he nearly choked on his cinnamon bun. When he asks you why, how would you best answer?
ohn’s Part B Medicare premium will be substantially higher than Dunne’s because his AGI two years ago was substantially higher than Dunne’s
Medicare costs at a glance
Erica had named Jim as the beneficiary of her IRA. She would like to remove him and specify her children as equal beneficiaries. Regarding this situation, which of the following statements is accurate?
Erica should contact her IRA custodian to make the change.
What can you accurately tell the Folgers about the child tax credit?
Under the TCJA, The Folger’s AGI does not exceed the beginning of the phaseout at $400,000 for a joint return. No credit is available nor would it be to Jim following the divorce. The child tax credit is generally claimed by the custodial parent and would be available to Erica given her much lower income. There is no requirement to incur childcare expenses to claim the child tax credit.
Jim and Erica own a late model Ford Fusion that is insured under a Personal Auto Policy (PAP). How will this coverage work once Jim moves out of the house?
Whoever is shown as the “named insured” on the declarations page of the policy can keep the coverage; the other spouse has to obtain new coverage.
