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Old 02-17-2016, 04:26 PM
 
Location: NC
6,572 posts, read 8,001,000 times
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Quote:
Originally Posted by mathjak107 View Post
if you are collecting social security your increases in medicare can never be more then the cola adjustment .

last year saw no cola increase so even though medicare went up in 2016 if you are collecting you got no increase .

if you didn't file or file and suspended you get the increase
Gosh, so maybe single people should file and suspend just for this! While they still can, that is.
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Old 02-17-2016, 04:34 PM
 
71,763 posts, read 71,853,273 times
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if you suspend you are not protected .you are only protected when you actually receive a check
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Old 02-17-2016, 04:36 PM
 
Location: NC
6,572 posts, read 8,001,000 times
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Curses, foiled again!
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Old 02-17-2016, 05:16 PM
 
Location: Cochise county, AZ
4,981 posts, read 3,468,620 times
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Mathjack, please be patient with me. I am cringing as I ask a repeat question of mine. (Hands raised in prayer as I ask for forgiveness.) But,if I'm on SSDI now & am 62, I do remember that it will automatically change to SS at 66, and I am currently on Medicare, do I still have to file for SS Medicare or does that automatically change, or remain the same, when I reach fra?
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Old 02-17-2016, 05:17 PM
 
71,763 posts, read 71,853,273 times
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i don't know much about ssdi , sorry , i don't want to give a wrong answer .
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Old 02-18-2016, 07:45 AM
 
30,155 posts, read 47,378,519 times
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Quote:
Originally Posted by mathjak107 View Post
if you are collecting social security your increases in medicare can never be more then the cola adjustment .

last year saw no cola increase so even though medicare went up in 2016 if you are collecting you got no increase .

if you didn't file or file and suspended you get the increase
That is actually not correct--
Anyone who,is 62 plus and qualifies on wage history can apply/receive SS--amount depends on your age, your current work situation (some people are penalized if still earning more than X amount)...

Medicare looks at your MAGI filing amount...there is a tier structure
If your MAGI rises above a certain level, you pay what is basically a Medicare tax above the normal amounts...

If you receive SS the Part B is deducted from the check automatically -- even if you were moved to the higher monthly amount after the non-COLA charges went into effect.
I think you still pay any significant surcharge quarterly with personal check...but maybe not--
I have had 3 letters from Medicare re my surcharge amount and haven't gotten my quarterly statement bill to know what the actual amount is...

So it is certainly possible to receive SS and NOT fall into the "hold harmless"category...
If your MAGI puts you into the penalty phase, you never fall into "hold harmless"...
I am doing it now...

FWIW--the MAGI limit amounts for the surcharge penalty will be enlarged every year so more and more people will fall into that cache pot of additional tax payers...and proportionally, this is the highest tax you can pay from what I have read. And there is very little people can do to deflect it since currently retirement accounts like 401Ks and IRAs hold more funds than Roths whose withdrawals are tax-free generally and not a mandatory bleed-down like an IRA...
So as people age and are forced to draw RMDs even if they can live on SS and pensions or rental income from properties, or dividend flow from taxed accounts, the additional income from RMDs could push growing numbers of people into the path of higher and higher Medicare premiums...
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Old 02-18-2016, 07:52 AM
 
71,763 posts, read 71,853,273 times
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odds are the op is not effected by any of the surcharges since they kick in pretty high .

we are appealing a 300% increase we got for 2016 based on 2014 when we sold a property and had a huge income but we were not retired nor on medicare that year .

so yes if you exceed some very high income limits you will be surcharged ..

the majority of the population ends up covered under hold harmless . for a couple you need to exceed 170k magi , for a single 85k .

2017 will introduce a few more brackets .

Last edited by mathjak107; 02-18-2016 at 08:07 AM..
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Old 02-18-2016, 09:17 AM
 
200 posts, read 333,709 times
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Quote:
Originally Posted by volosong View Post
I understood that if you are still gainfully employed past your 65th birthday and your employer provides approved medical coverage, then you do not have to sign up for Part A within that initial seven month window surrounding your birthday.

If you are correct, then my major employer, (5,000+ employees), has it totally wrong and there are a whole lot of people getting screwed. We would have heard about it by now.

It might be that my employer signs us up without us really knowing about it. I do know that my plan will switch. Same insurance company, same benefits, different plan - the switch is supposed to be transparent to us.
My wife, covered by her employer for health insurance, didn't sign up for Medicare Part A until this past December when she was almost 66-1/2...so she didn't do it within a "7 month window" from her 65th birthday..and the only reason she did it then (sign up for Medicare Part A) was because she was planning on retiring at the end of 2015 but then changed her mind and still is working for the same employer.
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Old 02-18-2016, 09:45 AM
 
Location: Central Massachusetts
4,800 posts, read 4,853,880 times
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Quote:
Originally Posted by meo92953 View Post
Mathjack, please be patient with me. I am cringing as I ask a repeat question of mine. (Hands raised in prayer as I ask for forgiveness.) But,if I'm on SSDI now & am 62, I do remember that it will automatically change to SS at 66, and I am currently on Medicare, do I still have to file for SS Medicare or does that automatically change, or remain the same, when I reach fra?


I can answer this for you. It is in the linked PDF here but the answer is quoted here


Quote:


Q: Do I have to apply for Medicare or do I get it automatically?


A: If you are already collecting some form of Social Security (either retirement benefits or disability benefits) when you become eligible for Medicare, you will automatically be enrolled in both Part A and Part B. You become eligible for Medicare when you turn 65 or have been collecting Social Security Disability for 24 months.




http://www.medicarerights.org/PartB-...QA-General.pdf
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Old 02-23-2016, 10:12 AM
 
Location: Cape Elizabeth
425 posts, read 388,193 times
Reputation: 745
Quote:
Originally Posted by meo92953 View Post
Mathjack, please be patient with me. I am cringing as I ask a repeat question of mine. (Hands raised in prayer as I ask for forgiveness.) But,if I'm on SSDI now & am 62, I do remember that it will automatically change to SS at 66, and I am currently on Medicare, do I still have to file for SS Medicare or does that automatically change, or remain the same, when I reach fra?
I can help you. Because you are on SSDI (SS Disability), you received your Medicare automatically 24 months after your date of entitlement to disability. When you reach 65, nothing changes. Medicare is Medicare. Once you reach your FRA date, the only thing that changes is that you are no longer on SS Disability, but on SS retirement. In effect, nothing changes, except your ability to work without limits. SS Disability has different work rules than those on retirement, but once you are FRA you don't have to worry about medical reviews or a return to work, if able.
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