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.
if this apply's to you , you may want to watch your taxable income (magi) this year .
medicare is introducing lower income brackets in 2018 where your premiums will jump if you hit the levels . this years income will be the benchmark for your 2018 premium . the new range is 133,500 to 160k will be added and increased as well as increases in the 160-214k range
25 to 80% of " parts B/D Costs Paid". What does that mean? Is there a published 100% amount for each year? What are typical cost differences between 25% and 50%? Seems that could be just another reason to delay SS and reduce ones magi for the same income.
Thanks. The year after you sell your home can harbor a big surprise.
actually it haunts you 2 years later if you have big taxable gains . we sold an investment in 2014 before we were retired or on medicare .it came back to haunt us this year 2016 .
we were given a 300% increase over last year . i won and got it rolled back on an appeal but i was lucky .
What surprises me is that starting in 2018 the 80% medicare part B & D related premium starts at income above $160K vs 65% before 2018.
I had planned to limit our Roth IRA conversion in 2016 such that our magi stays below $214K. With this new 2018 fee structure, it seems that it does not make any differences if we exceed $214K. To stay at 65% we will have to cap our magi at $160K for 2016. We only a small tax advantage window to do the conversion before my husband starts collecting SS and take his RMD. I will have to pull out my spreadsheet and redo the calculations to see if we should further limit the Roth IRA conversion this year.
this is really a heads up for an asset selling issue or roth conversion issue more than anything else .
we got nailed because of poor timing .
in our case we had no say in timing the sale of these assets but if people are close to medicare age they have to keep this in mind if they are selling or converting .
If this had been in the Medicare forum most of us, including me, would NEVER have seen it. So I for one am glad of the heads-up.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
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.
