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Old 04-17-2016, 07:07 PM
 
Location: Greenville, SC
4,641 posts, read 3,701,111 times
Reputation: 8618

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OK, my eyes tend to glaze over when I see all of these numbers ... I'm 69, and will continue to work at my present place of employment for 1 or 2 more years and use the health plan I have there. I'll start SS next year (which has nothing to do with Medicare, I believe) and am debating when's the best time to start getting Medicare.

Is this all saying there's some financial advantage to my signing up for Medicare now, or around when I retire in 2017 or 2018, or doesn't it make any difference in the end result?
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Old 04-17-2016, 08:01 PM
 
Location: Wisconsin
21,538 posts, read 44,002,416 times
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Quote:
Originally Posted by Vasily View Post
OK, my eyes tend to glaze over when I see all of these numbers ... I'm 69, and will continue to work at my present place of employment for 1 or 2 more years and use the health plan I have there. I'll start SS next year (which has nothing to do with Medicare, I believe) and am debating when's the best time to start getting Medicare.
You apply for Medicare Parts B and D when you lose your employer coverage. There is no late-enrollment penalty provided you've had creditable coverage prior to enrolling. Most employer plans are creditable for both medical and drugs.

Quote:
Originally Posted by Vasily View Post
Is this all saying there's some financial advantage to my signing up for Medicare now, or around when I retire in 2017 or 2018, or doesn't it make any difference in the end result?
That ship has sailed. In order to avoid the higher premium for Medicare Part B, one had to be enrolled and having premium deducted from SS by the end of 2015. How the 'hold harmless' will affect future new enrollees negatively can't be predicted. There is a limit to what the low/moderate income traffic will bear in Part B premium increases, imo. Medicare will be instituting new income thresholds in 2018, as posted upthread.

http://www.city-data.com/forum/43732215-post3.html

Here is Medicare's statement on the whys and wherefores of current Part B costs:

https://www.medicare.gov/your-medica...t-b-costs.html

So, my thought is, enroll when you retire and let the chips fall where they may. More important than when you enroll, for now, is your income. Large one-time cash receipts can spike the Part B premium for one year, as discussed upthread.
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Old 04-18-2016, 08:36 AM
 
Location: Mount Airy, Maryland
10,460 posts, read 5,926,819 times
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Well I have to say trying to get rates for Medigap insurance in Tennessee is a pain in the neck. Every site I visited had me fill out a form, obviously, then many simply sent me to another link that asked for the same information on yet another form. Not one actually sent me rates, instead a rep will be calling me (on the fake number I used on the form). I guess I'll just have to make a call myself. This is kind of critical info to have as we plan.
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Old 04-18-2016, 05:59 PM
 
Location: Greenville, SC
4,641 posts, read 3,701,111 times
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Quote:
Originally Posted by Ariadne22 View Post
Y
That ship has sailed. In order to avoid the higher premium for Medicare Part B, one had to be enrolled and having premium deducted from SS by the end of 2015. How the 'hold harmless' will affect future new enrollees negatively can't be predicted. There is a limit to what the low/moderate income traffic will bear in Part B premium increases, imo. Medicare will be instituting new income thresholds in 2018, as posted upthread.

...

So, my thought is, enroll when you retire and let the chips fall where they may. More important than when you enroll, for now, is your income. Large one-time cash receipts can spike the Part B premium for one year, as discussed upthread.
Thanks, that confirms I'm doing the right things.
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