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Reviving an old thread but I have the same type of question in 2018. I just got my new premium rate and it has gone up one income bracket. This is largely because of the one-time cashing out of I-class savings bonds (that were about twenty-years old).
Here is my question: regarding the life-changing events, there are two of them that would be relevant in my appeal:
1) I retired from full-time work (though I work some part-time, but my part-time salary is abougt 1/4 of my full-time salary).
2) I got divorced (but it wasn't finalized until early November).
#1 would support my appeal because my making less income would move my MAGI down.
#2 could actually hurt me (in 2017, filed married jointly, but in the long term, I always made the lion's share of the income)
I would probably just list #1 as a life-changing event, because I retired at the end of May of 2017.
#2 will come in to play, in my mind, the following year. 2018 will be the first time I have filed as a single individual.
So I guess my question is: should I just keep quiet, and pay the higher premium despite these two life-changing events? Because if I claim #1 and they check and see I have two life-changing events, my appeal might actual hurt my case. I know this sounds confusing, it is a borderline situation, but I think it is possible my premium could go up another notch.
To sum up: I wouldn't want my appeal to move my premium even higher than the increase they sent me. Thanks.
As I understand your post, these are two separate events, affecting premiums for 2019 and 2020. The two events can't be combined to affect premiums for both years.
If I were you, I would plan to file two appeals. One for the 2017 event affecting 2019, the second for 2018 affecting 2020. These appeals will take place one year apart. Worst that can happen is 2018 is denied. Or, file the appeal for the year which raises your premium the most.
As I understand your post, these are two separate events, affecting premiums for 2019 and 2020. The two events can't be combined to affect premiums for both years.
If I were you, I would plan to file two appeals. One for the 2017 event affecting 2019, the second for 2018 affecting 2020. These appeals will take place one year apart. Worst that can happen is 2018 is denied. Or, file the appeal for the year which raises your premium the most.
Thank you. That makes perfect sense. Appreciate it.
I was the OP in 2016. had an income bump again last year which has affected my Medicare payment and SS for 2019. I have not bothered to appeal it as when the last one happened, I just endured it for the year, 2017. It self-corrected in 2018. So, will just ride this one out as well.But....that's what I do, not suggesting others follow this course. Every person's solution will be different.
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