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)
Reply Start New Thread
 
Old 01-17-2018, 06:49 PM
 
Location: Ohio
19,910 posts, read 14,232,069 times
Reputation: 16088

Advertisements

Quote:
Originally Posted by mlulu23 View Post
You can't get disability unless you have extensive medical records, and I couldn't afford doctors. It was enough to make rent, and eat etc. So in effect I have lost nothing. Thanks so much for the encouragement.
It doesn't require extensive medical records. The Social Security Administration generally looks only at records over the last 6 months. There are many free and low-income medical clinics in nearly every city.
Reply With Quote Quick reply to this message

 
Old 01-17-2018, 06:54 PM
 
30,095 posts, read 47,327,614 times
Reputation: 16027
Quote:
Originally Posted by mathjak107 View Post
i got 40 bucks more but i just went on medicare so i was already paying the higher rate .

you on the other hand saw no premium increase the last 2 years if you were collecting and on medicare . you just saw your first increase in 2 years .

compared to when i was working and premiums soared whether i got a raise or not , this deal is simply amazing .

not only are these premium increases very little compared to the thousands a year we saw but i can't be raised more than i got. i looooooooove medicare and this deal we all have
Your income governs any supplemental IRRMA penalties in tax
To me those are just extra Medicare payments
So you CAN see an increase in your Medicare and Part D payments--higher than what regular SS recepients might pay if your MAGI is high...and in 2018 the tax rates reached deeper and are higher...so people are paying more w/the same MAGI levels the yr before...
And yes-I know this is calculated based on MAGI two yrs previously...so 2018 IRMMA is based on 2016 MAGI taxable amount
Reply With Quote Quick reply to this message
 
Old 01-17-2018, 06:59 PM
 
30,095 posts, read 47,327,614 times
Reputation: 16027
Quote:
Originally Posted by Mircea View Post
It doesn't require extensive medical records. The Social Security Administration generally looks only at records over the last 6 months. There are many free and low-income medical clinics in nearly every city.
The "many" is an oversimplification or maybe just wishful thinking
There are not MANY in my area of TX---DFW area
There is the county hospital and the county does have some clinics scattered around but they can be very crowded and if you need any surgery or serious testing you might have to wait unless there is real emergency...
So I think it very much depends on the area you are in as to the number and accessibility of low-cost health clinics...
For dental treatment for low-income/indigent people those can be VERY difficult to find...
I am tempted to say that in states with legislatures/government run by Democrats you are likely to find more free/low-cost health clinics---and that is one reason why TX-which is heavily GOP--doesn't have a lot...because the GOP doesn't believe in making health care affordable for poor people...

Last edited by loves2read; 01-17-2018 at 08:14 PM..
Reply With Quote Quick reply to this message
 
Old 01-17-2018, 07:07 PM
 
Location: Upper Left Hand Corner
2,563 posts, read 955,781 times
Reputation: 4179
Quote:
Originally Posted by mooksmom View Post
I got a $28./month increase but they also raised my Medicare payment $24./month so I see a whole $4. which really doesn't do much. I can buy a few cans of cat food for the cat or 2 gallons of milk.
Oh boy, yipee skipee. They sure know how to throw their money around don't they. Thank you for sharing your story. Interesting, but depressing how this works.
Reply With Quote Quick reply to this message
 
Old 01-17-2018, 07:09 PM
 
Location: Upper Left Hand Corner
2,563 posts, read 955,781 times
Reputation: 4179
Quote:
Originally Posted by Mircea View Post
It doesn't require extensive medical records. The Social Security Administration generally looks only at records over the last 6 months. There are many free and low-income medical clinics in nearly every city.
But I didn't know then, and it's too late now. Maybe it will be of some benefit to somebody going through it today.
Reply With Quote Quick reply to this message
 
Old 01-17-2018, 07:32 PM
 
Location: Upper Left Hand Corner
2,563 posts, read 955,781 times
Reputation: 4179
uote: Originally Posted by mlulu23
Oh ok, so I guess I should be thankful that my SS "check" stayed the same, and didn't go down any, sigh. Thank you.

Quote:
Originally Posted by runswithscissors View Post
Since you know that won't happen I guess that was just snark. I would be thankful I was paying LESS than other people all this time for Medicare Part B, though.

https://money.usnews.com/money/retir...tirees-in-2018
What? Sorry, but I don't snark. Don't know how, and don't want to learn. I am completely transparent. Just like Popeye I say what I mean, and mean what I say, lol. I don't know why you would say such a thing as I posted this thread so that I could learn. Did you see the "sigh", and the "thank you"?
Reply With Quote Quick reply to this message
 
Old 01-17-2018, 07:34 PM
 
Location: Upper Left Hand Corner
2,563 posts, read 955,781 times
Reputation: 4179
Quote:
Originally Posted by Crashj007 View Post
Mine is up $20.00, SO is down $3.50 Net nevermind.
This is all so confusing, but thanks anyway, lol.
Reply With Quote Quick reply to this message
 
Old 01-17-2018, 08:36 PM
 
Location: Central IL
15,233 posts, read 8,523,201 times
Reputation: 35647
[quote=mlulu23;50724545]I'm almost 70, and had to retire at 60 with the Colorado Old Age pension, and then SS at 62. This was due to chronic illness.

Quote:
Originally Posted by Mircea View Post
You made a major mistake by failing to file for Social Security Disability. Had you done so, you would have received 100% of your Social Security Benefits right up to your full-retirement age, so you've lost thousands of dollars.
Quote:
Originally Posted by Mircea View Post
It doesn't require extensive medical records. The Social Security Administration generally looks only at records over the last 6 months. There are many free and low-income medical clinics in nearly every city.
What exactly is your point, Mircea? Just rubbing her nose in something she can't change now? Oh, you're trying to help others?

I'm surprised by this and other snark in this thread...I had no idea what a touchy subject this is.
Reply With Quote Quick reply to this message
 
Old 01-17-2018, 09:18 PM
 
Location: Upper Left Hand Corner
2,563 posts, read 955,781 times
Reputation: 4179
[quote=mlulu23;50724545]I'm almost 70, and had to retire at 60 with the Colorado Old Age pension, and then SS at 62. This was due to chronic illness.
Quote:
Originally Posted by Mircea
You made a major mistake by failing to file for Social Security Disability. Had you done so, you would have received 100% of your Social Security Benefits right up to your full-retirement age, so you've lost thousands of dollars.

Quote:
Originally Posted by Mircea
It doesn't require extensive medical records. The Social Security Administration generally looks only at records over the last 6 months. There are many free and low-income medical clinics in nearly every city.

Quote:
Originally Posted by reneeh63 View Post
What exactly is your point, Mircea? Just rubbing her nose in something she can't change now? Oh, you're trying to help others?

I'm surprised by this and other snark in this thread...I had no idea what a touchy subject this is.
Thank you reneeh63 . I probably shouldn't have started this thread. I had forgotten how it can bring out the land sharks when they smell blood. And her name sounds so much like Mercy.
Reply With Quote Quick reply to this message
 
Old 01-18-2018, 02:52 AM
 
71,550 posts, read 71,712,424 times
Reputation: 49155
Quote:
Originally Posted by loves2read View Post
Your income governs any supplemental IRRMA penalties in tax
To me those are just extra Medicare payments
So you CAN see an increase in your Medicare and Part D payments--higher than what regular SS recepients might pay if your MAGI is high...and in 2018 the tax rates reached deeper and are higher...so people are paying more w/the same MAGI levels the yr before...
And yes-I know this is calculated based on MAGI two yrs previously...so 2018 IRMMA is based on 2016 MAGI taxable amount
tell me about it . in 2014 i sold some assets ,was not retired yet and no one on medicare . in 2016 my wife was on medicare and we got a 300 a month increase on top of the regular premium . if i was on medicare too it would have been a 600 dollar increase a month .

we appealed it and much to my surprise they found ways to grant us the rollback because our whole situation between retiring and selling pre medicare was a life changing event ..


michael kitces discuss it :

EXECUTIVE SUMMARY

Since 2007, the Medicare Modernization Act of 2003 has required high-income Medicare enrollees to pay an “Income-Related Monthly Adjustment Amount” (IRMAA) surcharge on their Medicare Part B premiums, which lifts the Medicare Part B premium from covering “just” 25% of costs up to as high as 80% of results, increasing Medicare Part B premiums by as much as 219% in 2017. And since 2011, a similar IRMAA surcharge has applied to Part D premiums, applying a flat dollar surcharge of as much as $914/year in 2017.

Beginning in 2018, though, the IRMAA surcharges on Medicare premiums will apply even more quickly, as changes under the Medicare Access and CHIP Reauthorization Act of 2015 will reduce the top Modified-AGI threshold from $214,000/year down to “just” $160,000 (for individuals, or $320,000 for married couples). And individuals with MAGI as low as $133,500 (or married couples at MAGI of $267,000/year) will be forced into a higher IRMAA tier, resulting in a nearly $1,000/year increase in IRMAA surcharges.

Which means going forward, it will be even more important to engage in proactive income tax planning for affluent retirees, to manage their exposure to IRMAA, especially in a low-inflation environment where being impacted by IRMAA also renders the household ineligible for the so-called “Hold Harmless” rules that limit annual inflation increases to Medicare Part B premiums. Especially since even “one-time” income events, like a sizable Roth conversion, or liquidating substantial capital gains, can be IRMAA triggers (at least for that one year the income event occurs).

On the other hand, it’s important to recognize that IRMAA surcharges still only amount to a roughly 1% to 2% cost increase, relative to the income the household must have to be subject to IRMAA in the first place. Which means that while managing taxable income (or really, MAGI) is important, it’s equally crucial not to let the tax tail (or the IRMAA tail) entirely wag the dog.

Nonetheless, the new 2018 IRMAA rules will just make Medicare-related tax planning more popular than ever. Although notably, for new retirees, the best IRMAA planning strategy is simply recognizing the opportunity to file Form SSA-44 to receive an exception to the IRMAA surcharge, as the act of retirement itself is a valid “life-changing event” that can allow new Medicare enrollees to avoid IRMAA premium surcharges on Part B and Part D in their initial Medicare years!

Last edited by mathjak107; 01-18-2018 at 03:30 AM..
Reply With Quote Quick reply to this message
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.


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