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Old 12-25-2016, 06:34 AM
 
71,497 posts, read 71,674,131 times
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not the case here . the increase in overall premium would be far more than the 14 bucks at the next level . the next level is exceeding 170k for a married couple and that increase was 53 bucks in 2016 .slightly more in 2017 .

very low incomes and higher incomes may not have the protection of hold harmless . the fact lower incomes can have dual eligibility for medicaid and medicare can have them not officially protected too since medicare premiums are paid by medicaid .

our 2016 premium jumped a whopping 300 a month on top of the regular premium since we sold an asset back in 2014 before we retired or she was even on medicare . had i been on medicare too our increase would have been 600 bucks a month .

luckily i appealed and won on a technicality and they rolled her back .

be careful of any asset sales within 2 years of going on medicare

Last edited by mathjak107; 12-25-2016 at 06:46 AM..
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Old 12-25-2016, 08:08 AM
 
Location: Beautiful Rhode Island
6,839 posts, read 11,111,158 times
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Quote:
Originally Posted by mathjak107 View Post
not the case here . the increase in overall premium would be far more than the 14 bucks at the next level . the next level is exceeding 170k for a married couple and that increase was 53 bucks in 2016 .slightly more in 2017 .

very low incomes and higher incomes may not have the protection of hold harmless . the fact lower incomes can have dual eligibility for medicaid and medicare can have them not officially protected too since medicare premiums are paid by medicaid .

our 2016 premium jumped a whopping 300 a month on top of the regular premium since we sold an asset back in 2014 before we retired or she was even on medicare . had i been on medicare too our increase would have been 600 bucks a month .

luckily i appealed and won on a technicality and they rolled her back .

be careful of any asset sales within 2 years of going on medicare
What about all the people who sell their houses and move to Florida, retiring and going on Medicare more or less simultaneously?
Is the principal residence considered an asset even though it's usually not taxable? How does this work?
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Old 12-25-2016, 08:15 AM
 
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only the part of the gains that are taxable income , if any count .

a bigger problem can be someone who sells and decides to relocate because they lost a spouse and lost 1/2 the 5ook exclusion and now has to file single ..

that exposes many more to increased premiums . both because of losing 1/2 the exclusion as well as the medicare thresholds where premium's jump are lower for singles
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Old 12-25-2016, 09:09 AM
 
Location: Central Mexico and Central Florida
7,095 posts, read 3,457,793 times
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Quote:
Originally Posted by mathjak107 View Post
only the part of the gains that are taxable income , if any count .

a bigger problem can be someone who sells and decides to relocate because they lost a spouse and lost 1/2 the 5ook exclusion and now has to file single ..

that exposes many more to increased premiums . both because of losing 1/2 the exclusion as well as the medicare thresholds where premium's jump are lower for singles
You don't lose 1/2 the personal residence sale exclusion right away, if widowed. This is cut and pasted from IRS site:

If you owned your home jointly with your spouse and your spouse has died, your
exclusion limit is $500,000, if ALL of the following are true.
Your spouse died no more than 2 years before the date of sale.
Neither you nor your spouse claimed an exclusion on another home during the 2
years before your spouse died.
You meet the 2-year residence requirement independently of your spouse.
You meet the 2-year ownership requirement (counting your spouse's ownership if
you need to).
You have not remarried at the time of sale.
If ANY of these are NOT true, your exclusion limit is $250,000.
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Old 12-25-2016, 09:13 AM
 
71,497 posts, read 71,674,131 times
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interesting they give you 2 year's but it still can be an issue for some unknowingly if they wait . i know we never anticipated the fact that selling an investment 2 years before even being on medicare or retired would come back to bite us .
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Old 12-25-2016, 09:55 AM
 
Location: Paranoid State
13,047 posts, read 10,431,986 times
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Quote:
Originally Posted by in_newengland View Post
Yeh, it seems to be the coming thing and apparently it's going to get worse. Wait until they start giving us Medicare vouchers! What are you supposed to do when your yearly voucher runs out?
I thought the voucher was to purchase insurance, not to pay for medical care.

At any rate, in aggregate and on average we consume a bit over $10K in medical care per person. So, medical insurance needs to cost on average a bit over $10K plus administrative fees.
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Old 12-25-2016, 01:21 PM
 
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How much did you make before retirement to get a $37 benefit? Or is that after WEP adjustment?
Or even a $500 benefit? I thought low income workers got a larger percent of income.
My cola was taken for medicare increase also so that means I am paying less then medicare increase should be. In my mind there should be a premium for part A as well as doctor visits. That iswhere the enormous costs are.
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Old 12-25-2016, 01:37 PM
 
Location: Lakewood OH
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I got my statement. I'll be getting the exact same as last year. Hey, that's better than less which is also better than nothing.
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Old 12-25-2016, 02:22 PM
 
Location: Haiku
4,056 posts, read 2,569,746 times
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I am probably the only one who thinks this, but I say so what if Medicare goes up a few dollars? It is still costing me peanuts relative to what I am getting from it. I mean really, all of us who are in our 60's or older are entering the years in which medical costs skyrocket. We are all getting a great deal so I am not complaining.

As to vouchers - that would be a disaster for anyone on Medicare. We would be buying insurance on the open market with those vouchers and premiums for an open market policy that replaces part A and B will probably be at least $1000/month.
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Old 12-25-2016, 02:28 PM
 
Location: Los Angeles area
14,018 posts, read 17,729,443 times
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Quote:
Originally Posted by TwoByFour View Post
I am probably the only one who thinks this, but I say so what if Medicare goes up a few dollars? It is still costing me peanuts relative to what I am getting from it. I mean really, all of us who are in our 60's or older are entering the years in which medical costs skyrocket. We are all getting a great deal so I am not complaining.
.........................
No, you are NOT the only one who thinks that. I am in your camp. It is a great bargain, perhaps the best bargain on this planet. (For the enrollees, that is. For the tax payers, I'm not so sure.)
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