U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-22-2011, 01:42 PM
 
Location: Earth Wanderer, longing for the stars.
12,408 posts, read 16,471,196 times
Reputation: 8776

Advertisements

I read somewhere that a Medicare contribution is deducted from Social Security payments; that if you opt out of the SS system you should be absolutely certain that those Medicare payments have been removed because it is nigh impossible to remove them after the fact.

Does anyone know how much the average Medicare deduction is from the average Social Security payment?

I am in a very different position than most in that I do have complete private coverage upon retirement through my husband's job.

I went through the 'normal' processing, handling the paperwork for my mother and, between the insurance and Medicare, it was a paperwork nightmare. That was years ago, but I marveled at how they thought the elderly, some with diminishing mental resources, could navigate that tangle of papers.
Reply With Quote Quick reply to this message

 
Old 10-22-2011, 02:04 PM
 
Location: Los Angeles area
14,018 posts, read 17,723,738 times
Reputation: 32304
Your answer can be found in post #62 on page 7 of a thread in this Retirement Forum entitled "Social Security Raise for Jan 2012 at 3.3%, So Far..."

The answer there, given by a very reliable poster, was that the amount is expected to be $106.60 per month in 2012.

This is a complex area. First, people who have high incomes will pay more. Second, even the people in the lowest income tier are not all currently paying the same thing, which is related to the fact that there was no Soc. Sec. COLA for two years in a row. There is a "hold harmless" provision whereby your Social Security retirement benefit cannot go down because of any increase in the Medicare Part B premium. This protects people who were already having that premium deducted from their Soc. Sec. However, someone who was new to Soc. Sec. or new to Medicare or both wasn't already having the premium deducted and therefore is not protected by the hold harmless provision. Now in 2012, supposedly, the previously protected people will see their premium go up and the others will see it go down (to the $106.60 level). I don't understand the latter part, but maybe someone more knowledgeable will post and help both of us.
Reply With Quote Quick reply to this message
 
Old 10-22-2011, 02:11 PM
 
Location: Wisconsin
21,534 posts, read 43,962,244 times
Reputation: 15135
You may want to check on that retiree health coverage. It may be while your husband works, you (as a retiree) are not required to have Medicare Part B. Most retiree plans have a Medicare carveout - they assume you will be paying the Part B premium. Guesstimates are the Part B premium in 2012 will be about $106/mo, deducted directly from your SS payment.

It is virtually impossible to find private health insurance coverage that is not based on the insured having Medicare Parts A&B. I know, I tried. When I retired, I could stay on my employer's old plan at a cost of $75/mo. BUT every single claim submitted to the insurance company first took into consideration any payments from Medicare. All Explanation of Benefits forms on submitted claims deducted the Medicare payment. My employer insurance never allowed more than the Medicare approved rate. So, as a result, Medicare and I, via co-pays, paid for everything. Only once did the employer plan pay for physician services not covered by Medicare - about $200.

If your retiree plan does not require you to have Medicare Part B - even when hubby retires - please let us know. I doubt they are that generous (or foolish).

Also, it is not that hard to unenroll in Medicare Part B. SS offices have forms for that. Actually, if you do not enroll in Part B when you first begin benefits, you don't have unenroll.

Last edited by Ariadne22; 10-22-2011 at 03:27 PM..
Reply With Quote Quick reply to this message
 
Old 10-22-2011, 02:31 PM
 
8,181 posts, read 11,900,573 times
Reputation: 17929
Quote:
Originally Posted by Escort Rider View Post
Now in 2012, supposedly, the previously protected people will see their premium go up and the others will see it go down (to the $106.60 level). I don't understand the latter part, but maybe someone more knowledgeable will post and help both of us.
I can answer that for you. When Medicare Part B premiums went up the last two years, 75% of enrollees were protected from paying any increase. Consequently, the 25% of enrollees who were not protected had to pay 100% of the dollar amount increase that needed to be paid into the Medicare program. IOW, those 25% who were not protected were in actuality subsidizing the 75% who didn't have to pay any increase. Now that the other 75% will also be paying their full amount, the subsidy ends and the 25% will actually end up with a lower cost (assuming the $106 ends up being correct).

I hope that makes sense.
Reply With Quote Quick reply to this message
 
Old 10-22-2011, 04:12 PM
 
Location: Los Angeles area
14,018 posts, read 17,723,738 times
Reputation: 32304
Quote:
Originally Posted by MadManofBethesda View Post
I can answer that for you. When Medicare Part B premiums went up the last two years, 75% of enrollees were protected from paying any increase. Consequently, the 25% of enrollees who were not protected had to pay 100% of the dollar amount increase that needed to be paid into the Medicare program. IOW, those 25% who were not protected were in actuality subsidizing the 75% who didn't have to pay any increase. Now that the other 75% will also be paying their full amount, the subsidy ends and the 25% will actually end up with a lower cost (assuming the $106 ends up being correct).

I hope that makes sense.
It makes perfect sense. Thank you.
Reply With Quote Quick reply to this message
 
Old 10-23-2011, 04:58 AM
 
Location: Earth Wanderer, longing for the stars.
12,408 posts, read 16,471,196 times
Reputation: 8776
Thank you for the explanations and the approx amount. I had once sent out for the forms but they never arrived. I will try again.
Reply With Quote Quick reply to this message
 
Old 10-27-2011, 08:11 PM
 
Location: Wisconsin
21,534 posts, read 43,962,244 times
Reputation: 15135
Medicare premium for 2012 will be $99.90.

http://www.nytimes.com/2011/10/28/us...-expected.html

And, the Part B deductible is lowered by $22, the Part A deductible rises $24.
Reply With Quote Quick reply to this message
 
Old 10-31-2011, 10:54 PM
 
Location: Washington County, ME
1,549 posts, read 2,386,959 times
Reputation: 1873
I was able to keep the health insurance plan i had when i retired - and it ended up it was also able to act as my "medigap" plan.

That also costs about $130/mo. from my pension.

But i dont even have any costs at doctors' or specialists' office visits (co-pays).
Reply With Quote Quick reply to this message
 
Old 11-01-2011, 07:26 AM
 
13,773 posts, read 33,896,767 times
Reputation: 10560
When I retired I also was offered med ins but I also had to sign up for medicare part B. You need to find out if you are going to be required to get it.
Reply With Quote Quick reply to this message
 
Old 11-03-2011, 04:31 PM
 
Location: Earth Wanderer, longing for the stars.
12,408 posts, read 16,471,196 times
Reputation: 8776
Quote:
Originally Posted by Keeper View Post
When I retired I also was offered med ins but I also had to sign up for medicare part B. You need to find out if you are going to be required to get it.
Yes. Most health insurance is based on your also having Medicare, but there are a few that do not.
If your insurance does not require Medicare, it is very important to tell them before you start collecting that you want no deduction. It is supposed to be very time consuming and next to impossible to retroactively or even in real time, remove it after you start to collect SS.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top