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Old 12-10-2011, 03:12 PM
 
Location: New England
12,026 posts, read 8,047,563 times
Reputation: 8527
Quote:
Originally Posted by Ariadne22 View Post
Nooo.... Medicare Part B will be $99.90. I'm ahead by $63/month after the $3.40 increase in my Medicare premium. Some people were were paying $115/mo. and will get a decrease in premium of $6 plus the 3.6% increase in SS. My Medicare Part B premium was $96.50.

We had a whole thread on this about a month ago when the 3.6% was announced. I can tell you're not a money person.
I'm curious why some pay $99 and others pay $115 for Medicare? I thought everyone paid the same? What is the SS level cutoff for the higher level?
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Old 12-10-2011, 03:24 PM
Status: "Extra blanket?? It's Fall!" (set 10 days ago)
 
Location: Verde Valley AZ
4,968 posts, read 3,642,166 times
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Quote:
Originally Posted by Boompa View Post
Now I can buy the Penthouse in San Francisco I always wanted
Yay...and good luck with that!!
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Old 12-10-2011, 03:25 PM
Status: "Extra blanket?? It's Fall!" (set 10 days ago)
 
Location: Verde Valley AZ
4,968 posts, read 3,642,166 times
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Quote:
Originally Posted by Minervah View Post
I recieved a letter telling me mine would be raised as of Jan 2012. It will just about cover myMedicare raise coming up as well.
That's what I thought. I was pleasantly surprised to see that, even with a few dollars added to my Part D, it was still $20 more.
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Old 12-10-2011, 03:28 PM
Status: "Extra blanket?? It's Fall!" (set 10 days ago)
 
Location: Verde Valley AZ
4,968 posts, read 3,642,166 times
Reputation: 4837
Quote:
Originally Posted by newenglandgirl View Post
I'm curious why some pay $99 and others pay $115 for Medicare? I thought everyone paid the same? What is the SS level cutoff for the higher level?
I've wondered that myself. I know I've been paying $94 and change for a long time but others pay more. Possibly because their monthly check is larger?? I dunno but that's what makes sense to me. I've also seen where a couple on SS was paying nearly $400 a mo. for two of them. I figured they must be getting some good sized checks!
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Old 12-10-2011, 03:56 PM
 
Location: Cleveland Heights OH
13,457 posts, read 10,102,904 times
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Quote:
Originally Posted by newenglandgirl View Post
I'm curious why some pay $99 and others pay $115 for Medicare? I thought everyone paid the same? What is the SS level cutoff for the higher level?
I looked back in my correspondence with Medicare and discovered the first statement I got from them said they would deduct $115.40 from my Social Security.

The most recent statement told me they had deducted $99.90 for Medicare. My increase in SS benefits will be $80.00 after the Medicare deduction. But my Medicare Advantage Plan goes up $9.00


Better than a poke in the eye with a sharp stick.
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Old 12-10-2011, 04:24 PM
 
Location: Wisconsin
13,875 posts, read 17,902,404 times
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Quote:
Originally Posted by newenglandgirl View Post
I'm curious why some pay $99 and others pay $115 for Medicare? I thought everyone paid the same? What is the SS level cutoff for the higher level?
The date you signed up. I signed up for Part B in 2009. Those who signed up later were paying $115.40. Next year, everyone (singles with an income level under $85,000/couple $170,000) will be paying $99.90.
Quote:
Originally Posted by AZDesertBrat View Post
I've wondered that myself. I know I've been paying $94 and change for a long time but others pay more. Possibly because their monthly check is larger?? I dunno but that's what makes sense to me. I've also seen where a couple on SS was paying nearly $400 a mo. for two of them. I figured they must be getting some good sized checks!
You've been paying $96.40. Size of check does not determine Medicare Part B premium. Income does. The rates increase on a graduated scale 99.90, 199.80, 259.70, 319.70, to $369.10 per person for those with incomes in excess of $428,000.

The schedule is here:
https://questions.medicare.gov/app/a...lkL0YzazlGZ0xr

Medicare Part B is very expensive for retirees with a high income, plus they still need to buy Medigap for at least another $2k/year. So, a high income individual could conceivably be paying, at minimum, $6,500/year, couples $13,000 for health insurance - with a lot of holes in it. Lots of wealthy people have concierge docs. I dunno - seems to me Medicare is a ripoff for the rich. Robyn can disabuse me of that idea.
Quote:
Originally Posted by Minervah View Post
I looked back in my correspondence with Medicare and discovered the first statement I got from them said they would deduct $115.40 from my Social Security.

The most recent statement told me they had deducted $99.90 for Medicare. My increase in SS benefits will be $80.00 after the Medicare deduction. But my Medicare Advantage Plan goes up $9.00

Better than a poke in the eye with a sharp stick.
So, you're ahead $71. Yea My Advantage premium is still at zero, but copays on my chiro doubled. So I can probably deduct at least $25/$36 mo. from that $63/mo net increase I'm seeing.
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Old 12-10-2011, 06:48 PM
 
10,429 posts, read 8,468,699 times
Reputation: 11496
Your Medicare premium is based on your income from two years ago. I retired this year and my Social Security payments are not high at all -- but my current Medicare premium is unbelievably high because, two years ago, I got a large bonus. And I got a nice bonus the following year so my Medicare premium next year will also be very high. Thank goodness my Medicare premium will go down the year after that.
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Old 12-10-2011, 07:03 PM
 
Location: Los Angeles area
9,061 posts, read 6,739,696 times
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Quote:
Originally Posted by Ariadne22 View Post
The date you signed up. I signed up for Part B in 2009. Those who signed up later were paying $115.40. Next year, everyone (singles with an income level under $85,000/couple $170,000) will be paying $99.90.

You've been paying $96.40. Size of check does not determine Medicare Part B premium. Income does. The rates increase on a graduated scale 99.90, 199.80, 259.70, 319.70, to $369.10 per person for those with incomes in excess of $428,000.

The schedule is here:
https://questions.medicare.gov/app/a...lkL0YzazlGZ0xr

Medicare Part B is very expensive for retirees with a high income, plus they still need to buy Medigap for at least another $2k/year. So, a high income individual could conceivably be paying, at minimum, $6,500/year, couples $13,000 for health insurance - with a lot of holes in it. Lots of wealthy people have concierge docs. I dunno - seems to me Medicare is a ripoff for the rich. Robyn can disabuse me of that idea.

So, you're ahead $71. Yea My Advantage premium is still at zero, but copays on my chiro doubled. So I can probably deduct at least $25/$36 mo. from that $63/mo net increase I'm seeing.
You have an excellent grasp of the facts concerning the Medicare Part B premuim which is deducted from our Soc. Sec. retirement benefit. I have no quarrel with your facts, but I disagree with one conclusion which you drew from the facts, namely that Medicare is a ripoff for the rich. In my view, the rich can easily afford the higher Medicare premiums which they pay, and Medicare remains a good bargain, even for them.
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Old 12-10-2011, 07:08 PM
 
Location: The Cascade Foothills
10,834 posts, read 3,713,148 times
Reputation: 6213
Well, I got A letter. I got one showing that the small amount I get for my son as a beneficiary (he's under 18) is staying the same as of January 2012.

I'm going to assume that there will be a letter about my benefits eventually as well - maybe in Monday or Tuesday's mail.
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Old 12-10-2011, 07:45 PM
 
Location: Wisconsin
13,875 posts, read 17,902,404 times
Reputation: 6496
Quote:
Originally Posted by Escort Rider View Post
I disagree with one conclusion which you drew from the facts, namely that Medicare is a ripoff for the rich. In my view, the rich can easily afford the higher Medicare premiums which they pay, and Medicare remains a good bargain, even for them.
LOL - well, ok, then. http://bestsmileys.com/lol/1.gif (broken link) I agree, the superrich can afford it - and more taxes, as well.

My statement on health insurance premiums comes from the narrow view of one who has no chronic, expensive ailments AND who thinks health insurance premiums are OUTRAGEOUS and unaffordable, generally - for those working and retired. The whole damn country is held hostage to medical expenses. Can't quit the job b/c you need the health insurance. Work long past retirement b/c you have sick spouse who needs health insurance. But, that is OT b/c then we get into national health insurance territory. Generally, the high cost of health insurance/medical expenses makes me see red.

But, ER, you are right. I agree with you. I still think the whole blasted system is a ripoff. Guess that's what I was trying to say.

Last edited by Ariadne22; 12-10-2011 at 07:53 PM..
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