Financial Medicare Advisor in Seattle

Fiduciary | Fee Only | Certified and Experienced

At Retirement Planning Partner, we help Seattle-area clients navigate Medicare as part of their broader retirement strategy. Chris Maggio is a Retirement Income Certified Planner who helps retirees and pre-retirees make informed healthcare decisions that support long-term financial stability. She's not a Medicare broker and doesn't sell insurance. Instead, she offers independent, fiduciary guidance that helps you understand your options and how they align with your income, tax exposure, and overall retirement goals.

Between enrollment windows, Part A and B rules, Medigap vs. Advantage plans, and rising prescription costs, retirement healthcare can be overwhelming. Let us serve as a voice of reason, and explain how Medicare can factor into a responsible retirement plan. Get in touch for a complimentary introductory call.

Medicare Is a Retirement Planning Decision

Healthcare will likely be one of your largest expenses in retirement. The average 65-year-old couple today can expect to spend over $300,000 on healthcare during retirement, not including long-term care costs. That makes Medicare a significant part of the retirement equation, and something that we should talk about early in our relationship.

Chris can help you evaluate how Medicare decisions affect your budget, tax strategy, investment plan, and estate goals. This includes timing enrollment properly, estimating out-of-pocket costs, coordinating with HSA withdrawals, and understanding how income can affect premiums through IRMAA (Income-Related Monthly Adjustment Amounts).

Medicare Parts and What They Cover

To make good decisions, it helps to understand the basic structure of Medicare.

Part A covers hospital services, inpatient care, and limited skilled nursing care. Most people do not pay a premium for Part A, but deductibles and copays still apply. Part B covers outpatient services, doctor visits, labs, imaging, preventive care, and durable medical equipment. There is a monthly premium, which increases for higher-income earners.

Part C is known as Medicare Advantage. It is an all-in-one option that replaces Original Medicare with a private plan. These plans often include prescription coverage and may offer additional benefits like dental and vision.

Part D adds standalone prescription drug coverage to Original Medicare. These plans have premiums, deductibles, and formulary differences you'll need to review carefully.

Medigap or Medicare Supplement plans help cover the costs that Original Medicare doesn't pay, such as copays, coinsurance, and deductibles, and these plans are standardized, but still offered through private insurers.

We can help you map out the differences and identify which approach fits your lifestyle and financial situation.To read more about the specific types of Medicare, see the government's Medicare website.

Avoid Common Enrollment Mistakes

Missing your initial enrollment window for Medicare Part B can trigger lifelong penalties, and signing up too early or too late for Part D can also increase your premiums unnecessarily. If you're still working or covered under a spouse's plan, you'll need to consider how that coverage affects your enrollment timeline.

We will discuss when to enroll, whether you need to delay, and how your retirement income plan should adjust around your Medicare start date. This is especially important for people retiring mid-year, or those who plan to delay Social Security but still want to begin Medicare.

Planning for IRMAA and Taxable Income

Many retirees are surprised to learn that their Medicare Part B and Part D premiums are based on income from two years prior. If your modified adjusted gross income exceeds $106,000 (single) or $212,000 (married filing jointly) as of 2025, you'll pay more for coverage.

What you need is an evaluation of whether or not Roth conversions, capital gains harvesting, or adjusting your withdrawal strategy can reduce future income-related Medicare premiums. This kind of planning works best when started early, especially if you anticipate large income events like asset sales, deferred compensation, or portfolio rebalancing in your first few years of retirement.

Medicare and Health Savings Accounts

Once you enroll in any part of Medicare---including Part A---you are no longer eligible to contribute to an HSA. This is because HSAs are only available to individuals with high-deductible health plans who are not enrolled in Medicare. If you contribute to your HSA after your Medicare coverage begins, you may face tax penalties and be required to remove the excess contributions. For many people, this becomes an issue when they start collecting Social Security. Enrollment in Part A is automatic once you begin receiving Social Security benefits, and retroactive enrollment can go back up to six months depending on the timing.

Let's review your timeline for Medicare and Social Security so that you don't accidentally disqualify yourself from making further HSA contributions. If you're planning to delay retirement and continue working past age 65, we'll walk through how to time your enrollment properly to avoid unintended consequences.

While you can't continue contributing to an HSA after Medicare enrollment, the funds already in the account remain available for qualified expenses. These include Medicare Part B and Part D premiums, copays, deductibles, and even many over-the-counter medications. If you need long-term care support, HSA funds can also be used to pay for qualifying services, including a portion of long-term care insurance premiums based on your age bracket.

Using HSA funds in retirement can also help reduce strain on your taxable accounts. For instance, if you withdraw $5,000 from an HSA to cover medical costs, that money is tax-free. If you instead took $5,000 from a traditional IRA or 401(k), that same amount would increase your taxable income and possibly affect your Medicare premiums or the taxability of your Social Security benefits.

We will help you decide how to integrate your HSA into a broader income and healthcare strategy. That may include using the account for large expenses, saving it for later-life medical care, or coordinating withdrawals with other retirement accounts to help manage your annual tax exposure.

Working With a Fee-Only Advisor

Chris Maggio's Medicare planning services are integrated into her broader retirement planning work. She does not sell Medicare policies or receive compensation from insurance companies. Her advice is entirely fee-only and fiduciary, which means it's based on what serves your best interest, not what pays a commission.

This independence allows for unbiased conversations about the pros and cons of Medicare Advantage, the value of supplemental coverage, and how to build your income plan in a way that keeps healthcare costs manageable.

Retirement Planning That Puts Healthcare in Context

Medicare is one of many decisions that shapes how secure and comfortable retirement will feel. Chris works with clients across the Seattle region, including Bellevue, Kirkland, Redmond, and Woodinville, to bring clarity to healthcare choices and how they fit into a broader retirement strategy.

Your healthcare needs may change over time, and your coverage should be able to adjust with them. Chris can help you revisit your plan annually, weigh new options during open enrollment, and connect Medicare choices with your income, taxes, estate goals, and long-term care needs.

If you'd like to talk through Medicare in the context of your retirement, reach out for a 30-minute consultation. It's a no-pressure opportunity to ask questions and see if working together is the right fit.