Medicare premium

[mathjak107]

Originally Posted by mojo101

$148.50-quite a jump.
Those who rely on SS check for most of their living expenses will have to go on a diet .
BTW,all the talk of rising food prices,I find it actually have gone down,looking at weekly sales ,you get pretty good deal with digital coupons and weekly specials

depending on income some get medicare and medicaid or they get subsidized medicare premiums


Dual eligibility
Some people qualify for both Medicare and Medicaid and are called “dual
eligibles.” If you have Medicare and full Medicaid coverage, most of your health
care costs are likely covered.
You can get your Medicare coverage through Original Medicare or a Medicare
Advantage Plan. If you have Medicare and/or full Medicaid, Medicare covers your
Part D prescription drugs. Medicaid may still cover some drugs and other care that
Medicare doesn’t cover

once your income cant support you , then one needs to look at alternatives like golden girling it ... no one is guaranteed they can live in accommodations they desire when they cant afford their expenses

[Deuce88]

Originally Posted by mojo101

$148.50-quite a jump.
Those who rely on SS check for most of their living expenses will have to go on a diet .
BTW,all the talk of rising food prices,I find it actually have gone down,looking at weekly sales ,you get pretty good deal with digital coupons and weekly specials

It is only an increase of $3.90 from $144.60, which is 2.7%.

[NewbieHere]

It’s not quite a jump. It’s less than $5. Let’s not exaggerate.

[mathjak107]

Let’s not lose sight of the magnitude of insurance increases most of us got while working whether we got a raise or not

[jiminnm]

I have read that 5-7% of Medicare recipients pay the IRMAA surcharge. There is also an IRMAA surcharge on Part D. Our Part D surcharge is more than our combined Part D premiums. I call these a surtax on seniors who the government thinks make too much money in retirement.

[mathjak107]

Originally Posted by jiminnm

I have read that 5-7% of Medicare recipients pay the IRMAA surcharge. There is also an IRMAA surcharge on Part D. Our Part D surcharge is more than our combined Part D premiums. I call these a surtax on seniors who the government thinks make too much money in retirement.

We discussed this prior ....

Just because one sells an asset can mean little in the income it generates ....a 200k gain will get you surcharged ..but that 200k generates 8k a year in income .....that may leave you with an income way less than a peer who does not pay thousands more in premium....

[TheShadow]

And the sad thing for us is when we sell our rental property not only will we have to pay more for medicare two years later, but we will be paying that higher premium with an income that is lowered by the loss of the rental property income! So we will be paying $5,000 more in premium, while earning $25,000 less in net income. So the year 2 years after we sell would be a pretty lean year, but we plan to use the money from the sale to pay off our primary home mortgage, so actual cash flow should be okay (minus the 5k premium, which is bearable for a year), but it will be something we have to keep in mind and plan for.

I always have to remind myself that we really need to look at things in terms of cash flow versus actual gross income. It will make our lives simpler when we sell the rental. We'll have less income but also much lower expenses and fewer things to manage and track. That will be nice.

[mshultz]

Originally Posted by jiminnm

I have read that 5-7% of Medicare recipients pay the IRMAA surcharge. There is also an IRMAA surcharge on Part D. Our Part D surcharge is more than our combined Part D premiums. I call these a surtax on seniors who the government thinks make too much money in retirement.

And you pay the Part D surcharge even if you go with a Medicare Advantage plan that includes prescription coverage. I will be facing that next year as my 2019 income was $113,000. Even so, it looks like my total Medicare premium will be less than what I am currently paying for healthcare. I am healthy with no prescriptions, so I am thinking about a zero premium Medicare Advantage plan. If I do go with Medicare Part B & D, I would not get a supplemental plan. That route would cost me an additional $15-$20 a month for Part D prescription coverage over a Medicare Advantage plan.