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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?
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!
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
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
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.
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
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.
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.
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.
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.
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.
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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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.
