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)
 
Old 04-06-2016, 04:57 PM
 
823 posts, read 563,296 times
Reputation: 2592

Advertisements

I would like to get some idea of how much Medicare costs for a person receiving $1500/month in Social Security payments ($18k/year), with no additional income.

How much do the various Medicare parts cost?

I think Part A is premium-free.

Does a low-income person pay the whole $121 Part B premium?

What about Part D?

If a person is on Medicaid and ages into Medicare, does Medicaid assist in paying premiums at all?

I'm not retirement age yet, but I'm trying to figure out how much will be deducted from my checks for Medicare premiums.
Reply With Quote Quick reply to this message

 
Old 04-06-2016, 05:54 PM
 
33,046 posts, read 22,034,672 times
Reputation: 8970
There is an "extra help" provision in Part D that pays all or part of the Part D premium for low income Medicare recipients. I think $1500 a month qualifies you for some help with the monthly premium but not sure. With Extra Help there is still a nominal co-pay for prescriptions which I've found to average between $1 and $2. Part D plans vary in the drugs covered and the co-pays, so before you sign up for a plan make sure any drugs you must take are covered by the plan. (Plans issue a yearly list of everything they cover, it's called a formulary.)

For most people the Part B monthly premium is something like $106.50 - it's higher for high-income recipients.

If your income is low enough to qualify, states have programs that pay your Part B premium. Since Medicare pays only 80% of medical bills, you have to cover the remaining 20%, which is what Medicare Supplement or Medigap insurance is for. I pay about $150 for this.

However, if your income is VERY low, your state might pay both your Part B premium and the 20% that Medicare doesn't pay.

Eligibility varies by state and $1500 a month might or might not qualify you for assistance with Part B or that 20%.
Reply With Quote Quick reply to this message
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