Course Description:

Learn how to help guide your clients through the tax and financial implications of social security decisions and health insurance, including Medicare and ACA.  HSAs are also a very useful option which will be discussed.  The course will also include several specific tax issues/tax returns such as Claim of Right and ACA strategies and key forms that are used when negotiating with Medicare and Social Security.

Learning Objectives:

• Social Security
  •  Understanding Important Ages
  •  Learning about different benefits
    • Spouse and Survivor Benefits
    • Retirement
    • Divorcee Benefits
    • Family Benefits and its impact on the election timing
  • Railroad Board and Government Pension Issues and examples
  • How to contest an overpayment letter
  • Understand the unique income range where SS taxability is relevant
  • Learn when a Claim of Right credit on the tax return may be needed
• HSAs
  • Learn about the advantages and the rules
• Medicare
  • Medicare - Parts A, B, C & D
  • Medicare Supplement
  • When to enroll
• Enhanced ACA
  • Being able to explain the potentially generous subsidies ages 50+
  • Understanding the plans and their differences- bronze- silver -gold
  • Using the “coupon” to buy filet mignon instead of hamburger
  • Tax implications and strategies

William LaChance, EA, CFP

Bill LaChance is an independent financial advisor.  Bill's firm offers a unique flat fee program that combines financial planning, investment management, tax planning and tax preparation. Prior to launching his financial planning practice, Bill spent twenty-two years in corporate finance in the retail industry and before that was a CPA with a large accounting firm.  Bill has a B.S. in Accounting from Bryant University and an MBA in Finance from Indiana University. Bill is a Certified Financial Planner as well as an Enrolled Agent authorized to represent taxpayers before the IRS. Bill is also a licensed insurance agent focusing primarily on health insurance (ACA and Medicare).

Coleen Drucker, EA, MBA, RSSA

Coleen Drucker has been an Enrolled Agent since 2016 and became a member of the NJSEA Board of Directors in 2021.  Coleen has been the lead trainer for Morris County VITA for several years after joining VITA in 2012.  

Coleen received a B.E. in Mechanical Engineering in 1978, a Masters in Engineering Sciences in 1980, and an MBA in 1990.  She is an aspiring financial planner, having completed the testing, but not yet the experience requirements. She is focused on the intersection of health insurance decisions, financial planning, and tax planning, both for federal and NJ taxes. Coleen also earned the RSSA, Register Social Security Analyst designation in 2019.