How Medicare Can Make or Break a Retirement Plan | The What If Show EP005

Is Medicare quietly destroying your clients' retirement plans? Most advisors — and nearly every client — treat Medicare as a simple, fixed expense. Turn 65, enroll, pay the premium, done. But that assumption could cost your clients hundreds of thousands of dollars over the course of their retirement. In this episode of The What If Show, hosts Brooke Thomas and Steve Goldstein break down one of the most misunderstood and underplanned variables in retirement: Medicare. From IRMAA surcharges that can push premiums from $202.90 all the way to $689.90 per month, to the "cliff tier" trap where being $1 over an income threshold changes everything, to the slow-motion collision between rising Medicare costs and flat Social Security COLAs — this is a conversation every financial advisor needs to hear. Plus, Brooke and Steve tackle today's Retirement BS myth: "Medicare is just a fixed cost — you either qualify or you don't." Spoiler: It's absolutely not. Want the free IRMAA one-pager to share with your clients? Email [email protected] and the Thomas Gold team will send it right over. 🔗 Learn more about Retirement Analyzer: https://retirementanalyzer.com 🔗 Thomas Gold Solutions: https://thomasgold.com 📩 Questions for the show? Reach out at thomasgold.com or retirementanalyzer.com Don't forget to subscribe so you never miss an episode of The What If Show — the podcast built to help financial advisors answer the what ifs in every client's retirement plan. Chapters: 00:00 – Intro: The What If Show 00:07 – Welcome to Episode 5 00:53 – Why Medicare Is One of the Biggest Retirement Variables 01:33 – Healthcare Inflation: 5–7% vs. the 3.2% Average 03:29 – IRMAA Explained: What It Is and Why It Matters 05:44 – The IRMAA Tiers: From $202.90 to $689.90 Per Month 09:24 – The Cliff Tier Trap: $1 Over the Limit Changes Everything 10:55 – Medicare Parts A, B, C, and D: A Clear Breakdown 14:21 – Enrollment Timing and Late Penalty Warning 16:23 – How Retirement Analyzer Automates IRMAA Calculations 18:40 – What Counts Toward Your MAGI (Roth Conversions, Capital Gains & More) 19:20 – Why Spreadsheets Fail and Purpose-Built Software Wins 23:08 – The Quiet Retirement Killer: Medicare Costs vs. Social Security COLAs 26:12 – Scenario Planning: Why Where You Retire Affects Medicare Costs 30:14 – 🚨 Retirement BS: "Medicare Is Just a Fixed Cost" 31:31 – The SSA-44 Form: How to Appeal an IRMAA Determination 34:17 – The Shocking Math: Nearly $1 Million in Lifetime Medicare Costs 35:10 – Audience Question + Call to Action 36:27 – Merch, Sneakers, and Hat Tips for Bald Men