Navigating Social Security and Medicare

Make confident decisions about your benefits and healthcare

Social Security and Medicare are two of the most important pieces of your retirement puzzle—but the rules and timing can be overwhelming. At Synergy Wealth Management, we help Houston retirees understand their options, avoid costly mistakes, and integrate these benefits into their broader retirement income plan.

Social Security Timing Strategies

Choosing the Right Age to File

You can begin Social Security as early as age 62 or delay until age 70 for higher benefits. Our advisors analyze factors such as life expectancy, health, income needs, and spousal situations to recommend an optimal claiming strategy. For couples, we also consider spousal and survivor benefits to help maximize lifetime household income.

Spousal and Survivor Benefits

Maximizing Benefits for Couples and Families

Social Security offers valuable benefits for spouses and survivors, but the rules are complex. A spouse may be eligible for up to 50% of the other’s benefit, and widows or widowers may be able to claim the larger of two benefits. Synergy helps clients, especially women navigating widowhood or divorce, understand how to maximize these options for long-term security.

Medicare Enrollment & Coverage

Understanding Your Healthcare Options at 65

Medicare eligibility begins at 65, but the decisions you make at enrollment can affect your coverage and costs for life. Our team explains the basics of Medicare Parts A, B, and D, as well as supplemental and Advantage plan options. While we don’t sell insurance, we guide clients through timing decisions, avoiding penalties, and planning for healthcare expenses before and after Medicare eligibility.

Healthcare Costs in Retirement

Planning for Expenses Beyond Premiums

Healthcare is often one of the largest expenses in retirement. Synergy helps you plan realistically for these costs so they don’t disrupt your financial security.

• Medicare Premiums – Projecting monthly costs for Parts B and D.
  
• Supplemental Coverage – Understanding Medigap or Medicare Advantage options.
  
• Out-of-Pocket Costs – Budgeting for deductibles, prescriptions, and co-pays.
  
• Long-Term Care – Factoring in insurance or savings strategies to cover extended care needs. [link to Long-Term Care Insurance]

Tax Considerations

Managing Income to Reduce Costs

Social Security benefits may be taxable depending on your overall income. Similarly, Medicare Part B premiums increase at higher income levels (IRMAA). While we don’t provide tax advice, Synergy considers these rules when helping clients plan withdrawal strategies and structure income sources to manage overall tax exposure.