Hi everyone, Kevin Jr. here.

We hold Medicare educational seminars about once a month. It is usually a great time for us to get out in the community, talk about the signup process, and answer the questions that are keeping you up at night. At our last event, we ran into a situation that I just had to share because it highlights exactly why we do what we do. It was one of those moments where a single conversation likely saved someone a significant amount of money and headaches down the road.

It sounds like a situation many people might find themselves in, so I want to walk you through it.

We met a woman who came to sit down for our presentation, but she was skeptical about whether she even needed to be there. She was turning 65 in a month. Her husband is a dentist who has run his own successful practice for about 40 years. He employs five people. naturally, the family has been covered under the dental practice’s group health insurance plan for years.

When she spoke to her plan provider, they told her she did not need to sign up for Medicare because she was covered by her husband's work plan. That sounds logical, right? If you have insurance, why would you need to pay for Medicare?

Here is where the details really matter. I asked her a specific question: "How many people does the plan cover?" She confirmed it was just the five employees.

This is the critical piece of information that her provider glossed over. If you are covered under an employer plan, you need to look at the size of the company. If the company has 20 or more employees, the group plan is generally the primary payer, and you might be able to delay Medicare Part B without penalty. However, if the company has fewer than 20 employees—like her husband’s dental practice—Medicare becomes the primary payer as soon as you turn 65.

If she had listened to the advice she was initially given, she would have missed her initial enrollment period. Because her husband’s plan is secondary to Medicare in the eyes of the law (due to the small staff size), the insurance company could have eventually refused to pay claims that Medicare should have covered. Worse, she would have faced lifetime late enrollment penalties for not signing up for Part B when she was first eligible.

She left that seminar relieved. It was a close call, but it reminded me that in the world of retirement planning, assumptions are dangerous. The rules are rigid, and they do not always align with what seems like "common sense."

Relief is Here: Property Tax Benefits in New Jersey for 2026

Speaking of rules, deadlines, and protecting your finances, we need to talk about what is happening right now with New Jersey property taxes. If you are a retiree in the Garden State, you know that property taxes are often the biggest hurdle to staying in your home.

We have spent a lot of time discussing the "Stay NJ" program over the last year, and we are finally arriving at the payout phase. If you followed the guidelines and filed your combined application by the October 31, 2026 deadline, you should be seeing the results of that effort right about now, in early 2027.

I want to break down exactly what this benefit looks like and why it is such a massive shift for retirement planning in our state.

The "Stay NJ" Benefit Structure

The Stay NJ program was designed to provide substantial relief specifically for senior citizens. For the 2024 benefit year—which is the cycle paying out now in early 2026—eligible homeowners are looking at a reimbursement of 50% of their property tax bill.

There is a cap, of course. For this cycle, the maximum benefit is set at $6,500. While the statutory cap allows for up to $13,000 in future years, $6,500 is a significant amount of capital staying in your pocket rather than going to the township.

Who Qualified?

If you are receiving this benefit now, it is because you met a specific set of criteria during the 2024 tax year:

● Age: You were age 65 or older.

● Residency: You owned and lived in your New Jersey home as your principal residence for the entire 12 months of 2024.

● Income: Your gross income was under $500,000.

● Property Status: You were not a mobile homeowner, though homeowners making P.I.L.O.T. (Payments-in-Lieu-of-Tax) payments were eligible.

One of the best improvements the state made for this cycle was the combined application process. In the past, navigating New Jersey benefits meant juggling different forms and deadlines for ANCHOR and the Senior Freeze. Now, the single application covers Stay NJ, ANCHOR, and Senior Freeze simultaneously. The state calculates your Stay NJ benefits after determining your eligibility for the other two, ensuring you get the maximum relief available without "double dipping" beyond the total tax bill.

Why This Matters for Your Retirement Plan

When we build financial plans at Westminster Wealth Management, we are constantly looking at cash flow. Retirement isn't just about the pile of assets you have saved; it is about what it costs you to live comfortably month-to-month.

For decades, New Jersey retirees have had to factor in an ever-increasing property tax burden that often outpaces inflation. A program that effectively cuts that bill in half (up to the cap) changes the math on "aging in place." It might make the difference between moving to a lower-tax state or staying near your grandchildren.

However, just like the Medicare example I shared earlier, the "Stay NJ" program has strict guardrails. The income limit of $500,000 is a hard ceiling. In financial planning, we call this a "cliff." If your income was $500,001, you would likely qualify for zero relief under this specific program. This is why managing how you recognize income in retirement—whether from IRA distributions, capital gains, or business income—is incredibly important.

Looking Ahead

If you missed the October 2025 deadline, you missed the payout for this specific cycle. But if history is any guide, these programs tend to evolve. Staying educated on the filing deadlines and eligibility requirements is your best defense against missing out.

Whether we are talking about the number of employees at your spouse's company determining your health insurance or your adjusted gross income determining your property tax rebate, the lesson remains the same: the details dictate the outcome.

Do not rely on what a neighbor told you, or even what a provider told you in passing. Verify the rules. Check the employee counts. Read the eligibility requirements for state programs carefully.

It is currently January 2026. As you review your financial landscape for the new year, take a close look at your fixed costs and your insurance coverages. If you are unsure about whether you are primary or secondary for Medicare, or if you want to understand how realizing capital gains this year might affect your eligibility for property tax relief next year, let’s have a conversation.

Next Step for You:

If you are approaching 65 this year or have questions about how the Stay NJ benefit impacts your ash flow projections, I can help you review your specific situation. Would you like me to look over your current timeline to ensure you aren't missing any critical enrollment windows or income cliffs?

Disclaimer: Westminster Wealth Management is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.