ConocoPhillips: Social Security and Medicare

At this moment in America, health and financial security are the two major concerns on everybody’s mind. It is no wonder then, that I’ve received an abundance of calls from clients inquiring about their Social Security and Medicare benefits. I noticed many of these questions were coming from ConocoPhillips employees, so I decided to look into their specific situation. Here is what I found.

Identifying optimal ways to claim Social Security is essential to your retirement income planning. For many retirees, understanding and claiming Social Security can be difficult. Social Security benefits are not designed to be the sole source of your retirement income, but rather a part of your overall withdrawal strategy. Knowing the foundation of Social Security and using this knowledge to your ad-vantage can help you claim your maximum benefit.

It is your responsibility to enroll in Medicare parts A and B when you first become eligible – and you must stay enrolled to have coverage for Medicare-eligible expenses. This applies to your Medicare eligible dependents as well. Read more here...

Sources:

• The Retirement Group or www.theretirementgroup.com
• “Retirement Plans-Benefits & Savings.” U.S. Department of Labor, 2019, www.dol.gov/general/topic/retirement.
• “Generating Income That Will Last throughout Retirement.” Fidelity, 22 Jan. 2019, www.fidelity.com/viewpoints/retirement/income-that-can-last-lifetime.
• COP Summary Plan Description, 2017