Medicare premiums (Reagan, injection, how much, retire)

[middle-aged mom]

The majority of Medicare Part B costs has been funded by general revenues, not premiums, since inception 55 years ago.

BY LAW, Part B Premiums must cover 25% of estimated costs. Part B includes medications administered in a medical office/ hospital.

27.4% of all Medicare outlays occurs in enrollees’ last year of life. Costs reflect care for multiple severe illnesses typically present near death.

38% spend time in a nursing home and Hospice is used by 50%. Both are mostly provided by private for profit businesses.

10,000 people a day turn 65 each day and become eligible for Medicare. Total enrollees are projected to be 80 million by 2030.

[middle-aged mom]

Originally Posted by TMSRetired

It was because of that new expensive drug that they decided not to cover after all. But I don't think premiums will get adjusted lower

The diff is being applied to 2023.

[middle-aged mom]

Originally Posted by mirage98de

That 40 billion we just gave away to Ukraine probably could have helped with that

In a rare bipartisan act, the super majority of Congress critters voted in favor of spending more on Ukraine than the admin requested for the proxy war.

Too bad it did not simultaneously increase income taxes over say the next 5 years to pay for it.

[middle-aged mom]

Originally Posted by thrillobyte

2/3 of Medicare is lost through fraud. Execute fraudsters and maybe things would improve.

2/3 of Medicare is lost through fraud?

Actual fraud ranges 6-8% of all outlays.

Providers, not beneficiaries, are responsible for most of it.

[Stephan A Smith]

Biden and the Democrats destroying the lives on seniors, women, P.O.C. and LGBTQIA+[*]^{%}# one price increase after another.

[middle-aged mom]

Originally Posted by ansible90

Two thirds? You need to provide a source for that if you want anyone to believe 2/3 of Medicare is lost through fraud.

Maybe a typo of maybe the poster read it on the internet/ social media and repeated it.

No doubt, some will take that post on this forum as fact and repeat it.

[irishcopper]

Originally Posted by mirage98de

That 40 billion we just gave away to Ukraine probably could have helped with that

$40 billion into the money laundering scam called Ukraine and 10% for the Big Guy.

[JenaS62]

Originally Posted by mojo101

Didnt SSN give everyone a raise?

Social Security is not the same as a pension.

Biden was also the deciding vote to tax SS. He's wonderful isn't he?

[Ariadne22]

I expect no refund - and no increase in Medicare premium in 2023 which will zero out the overage.

Originally Posted by TMSRetired

and upped the medicare premium which wiped out any raise.

Not really. I'm ahead $1,300/year - after deduction for Medicare.

Originally Posted by JenaS62

Biden was also the deciding vote to tax SS. He's wonderful isn't he?

You do know employer contributions funded 50% of the SS benefit? You were never taxed on the employer contributions back in the day. That was an employer expense which inured to your benefit on retirement.

Biden's vote to tax was back in 1983 - making 50-85% of your benefit subject to tax should half your benefit (untaxed employer contribution) plus your retirement income exceed certain thresholds.

The portion of your benefits subject to taxation varies with income level. You’ll be taxed on:

• up to 50 percent of your benefits if your income is $25,000 to $34,000 for an individual or $32,000 to $44,000 for a married couple filing jointly.
• up to 85 percent of your benefits if your income is more than $34,000 (individual) or $44,000 (couple).

Say you file individually, have $50,000 in income and get $1,500 a month from Social Security. You would pay taxes on 85 percent of your $18,000 in annual benefits, or $15,300. Nobody pays taxes on more than 85 percent of their Social Security benefits, no matter their income.

The Social Security Administration estimates that about 56 percent of Social Security recipients owe income taxes on their benefits.

In other words, 44% of SS recipients pay no tax at all.

All this gasping and clutching pearls at the unfairness of it all is just silly. And, very old news.

[Hoonose]

Medicare remains as a huge benefit for all enrollees. Premiums, copays and deductibles are a real bargain as opposed to private plans, and what it would cost to insure our aged and disabled.