Business Agriculture Wealth Personal Locations & ATMs Support Log In Return to Insights Video: How to be tax smart with healthcare and retirement costs 10.22.21 SHARE One of the biggest Achilles heels to an otherwise robust retirement financial plan is the cost of health insurance. However, through strategic income planning, the cost of health insurance prior to age 65 can be largely mitigated through available tax-credits. Here’s how you can be “tax smart” with your retirement and healthcare costs. 1 While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional. Unless certain criteria are met, Roth IRA owners must be 59½ or older and have held the IRA for five years before tax-free withdrawals are permitted. Additionally, each converted amount may be subject to its own five-year holding period. Converting a traditional IRA into a Roth IRA has tax implications. Investors should consult a tax advisor before deciding to do a conversion. Cultivating thriving communities We're here to help the people who grow our food, build our economy and call us neighbors meet their financial goals — now and in the future. Company About Us Careers Community Newsroom Insights Business Insights Agriculture Insights Wealth Insights See All Topics Support Lost or Stolen Cards Online Banking Help Security Tips and Tools See All Topics 800-908-2265 Security Privacy Accessibility Account Agreements © 2020 Bremer Financial Corporation. Investment products are not insured by bank insurance, the FDIC, or any other government agency, are not deposits or obligations of the bank, are not guaranteed by the financial institution, and are subject to risks, including the possible loss of principal. Securities are offered through Raymond James Financial Services, Inc. member FINRA / SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Bremer Investments, Bremer Insurance, Bremer Wealth and Bremer Bank are not registered broker/dealers and are independent of Raymond James Financial Services, Inc. Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members. Raymond James Privacy Notice BrokerCheck