✅ Watch the internet's #1 Online Medicare Educational Workshop for FREE: get.medicareschool.com/42pWbYH ✅ To get 1 on 1 Help from our Team, Schedule a Call Here: get.medicareschool.com/3VrL2nT
I had not heard of the Surtax before watching Marvin's videos. Watch lots of other folks videos but none provide the depth of detail that Marvin provides. This gentlemen knows more about Medicare than anyone else on RUclips!
B side can be much higher based on your adjusted gross income. They really screwed a family member of mine who was confined to a wheelchair for many years and had to pay for 24/7 Homecare out of pocket. For tax purposes she had no income because her medical expenses on the schedule A was so high that it cancelled her income. But because medicare does not use taxable income and use AGI she had a premium of almost $400 per month. After this experience I’ve elected not to take Medicare part b. I’m fortunate to have an employer subsidized health care plan as part of my retirement benefits.
Home health care is covered under Part A of Medicare, not Part B. There may be some misunderstanding of your family members' situation. If someone is disabled confined to a wheelchair, we would be looking at State Medicaid. Also, people earn Part A premium free by having 40 work quarters
Also, very important to keep in mind, when you retire, Medicare becomes Primary Insurance, and first payor. You're supposed yo enroll in A&B.m because if something happens with your health, yiu run the risk if your other Insurance only paying as Secondary, leaving you with very high out of pocket costs.
I am retired Federal Govt. employee and didn't pay for social security during my career but did pay for medicare. When I hit 65 and had to sign up for Medicare they were telling me that I would need to pay for both Parts A and B because of not paying SSA. After talking with them forever I finally got someone who understood the Fed. employee situation who told me that they would piggyback on my husband's SSA which would make so I only have to pay for the part B, which doesn't make sense to me but that is that. I wonder what would happen if he passes before me, will they make me pay for the Part A then?
No, you're able to draw off a spouse to get the 40 quarters for Part A if you don't have it yourself, even if he passes before you. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
Someone retires at age 62. With social security and a small pension. They are living in poverty, but are considered above the so-called poverty line. They will be forced on to Mitt Romney's Republican health care program also known as Obama care for 3 years. They have to pay over 300 per month with a $8,000 deductible. Essentially, they have no benefits other than catastrophic coverage. One night in a hospital for $30,000. Is it me or is this system woefully inadequate. Someone retires at age 62 is on social security and nothing else. They are living in poverty, but are actually below the poverty line. They will barely qualify for mediCal. No deductible, but when they turn 65 will be taken off MediCal and put on medicare A and B. They will get $164 dollars less social security? How the hell did people let this so called health care delivery system in the US get so bad? All I see is problems and no real solutions in sight except moving to a country that treats their people better. After giving hundreds of thousands of dollars into the system over your lifetime. Oh well, at least the defense contractors are doing well.
If someone retires at 62 and needs health insurance then the Healthcare.gov Marketplace ACA ( affordable care act), plan options are available to review and based on income may qualify for subsidies & tax credits to lower the cost of the insurance. Keep in mind Insurance policies have Max out of pockets for the year, so you wouldn't be responsible for that 30K. If you're not happy with your plan, then it may not be right one. Open Enrollment starts again in November for the Marketplace. People earn Medicare Part A( Hospital) premium free from working and paying into Social Security taxes. Medicare Part B ( Medical) is based on income. People with limited income may get help with their Part B premium through 'The Medicare Savings Program', and can contact their State Medicaid office to inquire. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
@@MedicareSchool The point I was making is that there is no plan available for someone in this predicament. Spending $300 a month with subsidies and tax credits for inadequate coverage thru the affordable care act or thru the medicare part B is ridiculous and mandatory. These days social security covers groceries, gas, and insurance. the pension covers utilities and car maintenance. If this person had to pay for housing he would be homeless. Getting a better plan with a lower deductible is a pipe dream.
The coverage on Medicare is much different than Marketplace Insurance. Medicare Part B covers medically necessary services. Part B premium is based on income, $164.90 for most people. To get Medicare fully set up, people have the option to purchase a Supplement or go with Medicare Advantage.
You're welcome! So glad it helped. If you have any questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
I recently completes the SSA 44 appeal with mixed results. First, I find it odd that I had to file a separate SSA44 for my wife and I separately when we are joint filers and relying upon joint income. It seems there should be a single form for joint filers just as the 1040 form is. The result was 2 different answers for her vs me on the same set of facts. I am now appealing my SSA 44 decision to see if I can get that resolved. Another issue I have with this process is that it is looking at previous income that includes income from wages that has already been Medicare taxed. I understand the need to tax income that is derived from investments that are not subject to Medicare tax but it seems rather harsh to “re-tax” wage income. BTW I find it odd that Medicare was fixed a number of years back by removing the income cap and taxing every dollar of wages including adding a surtax on higher incomes and that no one wants to consider the same rules for SSA taxes. Congress should consider removing the SSA income cap first, before considering benefit reductions.
Sorry to hear about that. Thank you for the comment and insight. If you have any other questions or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
Question: I am one of those unfortunate city workers who is about to lose my Medicare. My question is , can I , if I have to pay for a supplemental, can I take this off my taxes since health care can be included in one's tax return?
Thanks for sharing. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
It may sound crazy but I am seriously thinking about suing the Federal government for discrimination. When I was employed, it didn't matter how much you made--everyone paid the same for medical and dental premiums regardless of their wages--just the difference between Single and Family. Why should the Federal government get to charge me more because my wages were higher? Also, I paid more during my working years for Medicare because my wages were higher. Medicare is a government monopoly and should not be able to punish people who worked very hard and were successful.
Thank you for the input. We can assist/ advise our Medicare clients with their IRMAA appeals. If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
If you have higher income, you'll pay an additional premium amount for Medicare Part B and Medicare prescription drug coverage. This additional amount is the(IRMAA) “income-related monthly adjustment amount If you've had a life-changing event that reduced your household income, you can ask to lower the additional amount you'll pay for Medicare Part B and Part D. Life-changing events include marriage, divorce, the death of a spouse, loss of income, and an employer settlement payment. We can assist people with their IRMAA appeals. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
My spouse is a high income earner. He’s healthy, he enjoys his job very much and plans to work to age 70. We know we’ll have to pay IRMMA. We’ll be selling our house and moving to our retirement residence, located in another state, upon his retirement. His employer will also be paying out a couple of thousand dollars from a plan his company set up for highly valued technical contributors. His income from work will also drop upon retirement. How many times do we file for an adjustment, as we have 3 major changes that will happen close to each other. Should we sell this house more than 2 years before his retirement?
There is a two year look back for the IRMAA. We can assist people with the IRMAA appeals when we help with your Medicare review. If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
If you are self employed you said you have to pay the full 14.40%. Before that you said you pay 6.20 % and company matches 6.20 percent. that should equal 12.40%. If you are self employed shouldn’t you have to pay 12.4% and not 14.4. Maybe i missed something.
Correction needed at 5:09 regarding out-of-pocket Part B premiums. A three month payment was required when I began Medicare, but since then I have been billed and make payments monthly.
I'm not sure why they don't look back at your most current tax return. Obviously, if one went on Medicare during the first few months of 2023, then look at 2021 MAGI. But after that, it would make sense to looks at 2022 MAGI. Also, when is the recalculation done every year? If it's in November/December, then it really makes sense to look at the previous year MAGI.
That would make sense. It looks like that is the info that the IRS provides to SSA. Each fall they ask the IRS for info to determine next year's premiums.We assist people with the IRMAA appeals. If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
Hi, I am watching the videos to learn about which Medicare supplemental plan I should buy. And from who. Here is my main question. I will be turning 65 this October of this year. BUT, I have been on Medicare part A and B since the year 2000 thus meaning I have been on Medicare for 23 years. I am on Medicare due to a visual disability from birth. Here is my question I understand that I could get a supplement without any medical underwrite at the age of 65. Is that true in my case??? Because I have been on Medicare all these years with no supplement. I have always paid my 20% when I needed to go to the doctor and have outpatient testing done. Will the insurance companies hold it against me that I did not have a supplement for the last 23 years how does that work. I do need to buy a supplement as I am getting older and I do not want to miss the window of the age 65. Can you answer my question and help me out thank you
Yes, you can definitely get a Medicare Supplement without any Underwriting Health Questions asked because you are turning 65. We can help you review and get your Supplement in place for October 2st effective, as early as 6 months out so reach out to us as soon. Also, are you on the Extra Help program? You may be able to get a zero premium Advantage plan which has a CoPay Structure instead of the 80/20 Coinsurance, and additional benefits at no cost, just until you can get a Supplement at 65. You would need a valid Election since we're not in AEP ( Annual Election Period). If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
Yes sir, appreciate your content. Have several questions?. I’m 64 years of age . I took the early social security at age 62 . I’m a retired Air Force veteran, I currently get the Tricare prime. Is it true ? 3 months before age 65 do I have to apply for Medicare part B . I heard when Tricare for life kicks in in order to keep Tricare I have to sign up for part B . I have to keep both, that’s what I heard? Since I already have Tricare, through the military, do i have to sign up for part B? This topic is very confusing. Any retired military out there can give me any advice?
Thank you for your service. Yes, that is correct. It will be Tricare for Life once you turn 65 but you do need to to enroll in Medicare A & B in order to keep the Tricare for life. Medicare becomes Primary Insurance at 65. There are Medicare plans that coordinate very well with Tri-Care for Life. In many areas they can help reduce your Medicare Part B premium with monthly premium reductions and they are enriched with additional benefits at no cost to you. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc .
If you signed up for trickle prime before 2012, then you can keep the prime and opt out of medicare. If for some reason you would later decide to sign up for Medicare, you will be charged 10% extra for the premiums for medicare
If you are a retired military member, I don’t see why you would consider a Medicare advantage plan. You are likely eligible for VA medical care. The VA provides optometry and audiology services, not covered by Medicare or TFL. You are eligible for TRICARE Retiree Dental Insurance. If you just use TFL as your secondary insurance, the claims process is seamless.
I retired at 57 and I am now 80 YO. I had a duplex that I sold two years ago that doubled in value over the 33 years that I owned it, of course, the dollar lost half its value over that time. So for that year, I had to pay over $500/month.
@@MedicareSchool I called them and they basically told me tough shit, if you earned the money, pay the higher rate. Unless I could show an error in their calculations.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
If you have Medicare and VA coverage, there are Medicare plans that in many areas help reduce your Part B premium with monthly Premium reductions and these plans have many additional benefits at no cost.If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
$97K for a single person is hardly a high income. Also note that the surtax is tilted toward people who make $150K or less while the top earner over $500K as you said pays over $500 a month for part B.
My medical insurance was Tricare (through my husband's military service) and I was FORCED onto Medicare at 65. It is more than double what I paid before AND I have to pay Part B twice. What a racket!
Medicare is your primary insurance, it became the first payor. Part B covers your medically necessary services. Everyone has a Part B premium based on income. There are Medicare plans that coordinate with Tri-Care for Life and in many areas they help reduce your Part B premium with monthly premium reductions and they are enriched with additional benefits at no cost to you. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
My wife and I have Medicare as primary and TRICARE For Life as the secondary, for the past 6 years. She has had two hip replacements, I’ve had a prostatectomy and salvage radiation. We both have had cataract surgery and multiple specialty appointments and procedures. We have had ZERO out-of-pocket for medical care other than the very reasonable Part B premiums and small co-pays for medications through the TRICARE pharmacy benefit. We feel so fortunate to have such robust health insurance.
@Steven Nevins I have to pay part b twice and I have a $3000 deductible for prescriptions. AND 50% of my SSA is withheld because of my pension from the state of Texas. So the whole thing cost me about 8 or $9000 a year more more. And when my husband retire's, we'll have to multiply that twice. Sorry it's a racket. I'm glad you're happy with it but I'm p*****!
@@lisaharris2518 I am retired military. If your husband is also, I don’t understand why your benefits are so different than mine. I do understand reduction in your social security. My wife has a pension through Texas Teacher Retirement System and same thing happens to her.
Have you ever heard about one spouse going under another spouses part d? I was told that i can go under my husbands part d drug plan with UHC and vo offof mine
✅ Watch the internet's #1 Online Medicare Educational Workshop for FREE: get.medicareschool.com/42pWbYH
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I've learned so much important information watching this channel. Thanks!
Yep
You're welcome!
Great information. Thanks again
Good summary....
Thank you for watching.
Helpful, thank you. The IRMAA's of $78 (lowest) and $470 (highest) are PER MONTH surcharges (NOT annual amounts), correct?
Thanks again.
That is correct
I had not heard of the Surtax before watching Marvin's videos. Watch lots of other folks videos but none provide the depth of detail that Marvin provides. This gentlemen knows more about Medicare than anyone else on RUclips!
Thank you for the positive feedback.
Kudos! Vety informative video.
Thank you for watching!
Thank you!
Great post. Bob in Nevada
Thank you for watching.
If I have a “windfall” year due to the sale of a business, the IRMMA will be high. I would then retire afterwards. It sounds like an appeal my work.
I really appreciate these educational videos. 😊
You're very welcome. Glad it had been helpful.
You meant 12.4%. You said 14.4%
Thanks for the comment.
Very helpful info!!! 😊😊😊
Thank you for watching!
B side can be much higher based on your adjusted gross income. They really screwed a family member of mine who was confined to a wheelchair for many years and had to pay for 24/7 Homecare out of pocket. For tax purposes she had no income because her medical expenses on the schedule A was so high that it cancelled her income. But because medicare does not use taxable income and use AGI she had a premium of almost $400 per month.
After this experience I’ve elected not to take Medicare part b. I’m fortunate to have an employer subsidized health care plan as part of my retirement benefits.
Home health care is covered under Part A of Medicare, not Part B. There may be some misunderstanding of your family members' situation. If someone is disabled confined to a wheelchair, we would be looking at State Medicaid. Also, people earn Part A premium free by having 40 work quarters
Also, very important to keep in mind, when you retire, Medicare becomes Primary Insurance, and first payor. You're supposed yo enroll in A&B.m because if something happens with your health, yiu run the risk if your other Insurance only paying as Secondary, leaving you with very high out of pocket costs.
I am retired Federal Govt. employee and didn't pay for social security during my career but did pay for medicare. When I hit 65 and had to sign up for Medicare they were telling me that I would need to pay for both Parts A and B because of not paying SSA. After talking with them forever I finally got someone who understood the Fed. employee situation who told me that they would piggyback on my husband's SSA which would make so I only have to pay for the part B, which doesn't make sense to me but that is that. I wonder what would happen if he passes before me, will they make me pay for the Part A then?
No, you're able to draw off a spouse to get the 40 quarters for Part A if you don't have it yourself, even if he passes before you.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
"The Gift Of The MAGI"?
Good one!
Someone retires at age 62. With social security and a small pension. They are living in poverty, but are considered above the so-called poverty line. They will be forced on to Mitt Romney's Republican health care program also known as Obama care for 3 years. They have to pay over 300 per month with a $8,000 deductible. Essentially, they have no benefits other than catastrophic coverage. One night in a hospital for $30,000. Is it me or is this system woefully inadequate.
Someone retires at age 62 is on social security and nothing else. They are living in poverty, but are actually below the poverty line. They will barely qualify for mediCal. No deductible, but when they turn 65 will be taken off MediCal and put on medicare A and B. They will get $164 dollars less social security?
How the hell did people let this so called health care delivery system in the US get so bad? All I see is problems and no real solutions in sight except moving to a country that treats their people better. After giving hundreds of thousands of dollars into the system over your lifetime. Oh well, at least the defense contractors are doing well.
If someone retires at 62 and needs health insurance then the Healthcare.gov Marketplace ACA ( affordable care act), plan options are available to review and based on income may qualify for subsidies & tax credits to lower the cost of the insurance.
Keep in mind Insurance policies have Max out of pockets for the year, so you wouldn't be responsible for that 30K.
If you're not happy with your plan, then it may not be right one. Open Enrollment starts again in November for the Marketplace.
People earn Medicare Part A( Hospital) premium free from working and paying into Social Security taxes. Medicare Part B ( Medical) is based on income. People with limited income may get help with their Part B premium through 'The Medicare Savings Program', and can contact their State Medicaid office to inquire.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
@@MedicareSchool The point I was making is that there is no plan available for someone in this predicament. Spending $300 a month with subsidies and tax credits for inadequate coverage thru the affordable care act or thru the medicare part B is ridiculous and mandatory. These days social security covers groceries, gas, and insurance. the pension covers utilities and car maintenance. If this person had to pay for housing he would be homeless. Getting a better plan with a lower deductible is a pipe dream.
The coverage on Medicare is much different than Marketplace Insurance. Medicare Part B covers medically necessary services. Part B premium is based on income, $164.90 for most people. To get Medicare fully set up, people have the option to purchase a Supplement or go with Medicare Advantage.
Where was this video when I needed it. Desperately.
If you have any questions, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
helpful!
Thank you for the feedback
$597.20 monthly... free? Hardly
Thank you for the feedback.
Your you-tube info is the best, you have saved me a lot of stress, THANK YOU…
You're welcome! So glad it helped. If you have any questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
I recently completes the SSA 44 appeal with mixed results. First, I find it odd that I had to file a separate SSA44 for my wife and I separately when we are joint filers and relying upon joint income. It seems there should be a single form for joint filers just as the 1040 form is. The result was 2 different answers for her vs me on the same set of facts. I am now appealing my SSA 44 decision to see if I can get that resolved. Another issue I have with this process is that it is looking at previous income that includes income from wages that has already been Medicare taxed. I understand the need to tax income that is derived from investments that are not subject to Medicare tax but it seems rather harsh to “re-tax” wage income. BTW I find it odd that Medicare was fixed a number of years back by removing the income cap and taxing every dollar of wages including adding a surtax on higher incomes and that no one wants to consider the same rules for SSA taxes. Congress should consider removing the SSA income cap first, before considering benefit reductions.
Sorry to hear about that. Thank you for the comment and insight. If you have any other questions or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890.
Thanks so much, any advice from our military veterans will be greatly appreciated
You're welcome. ruclips.net/video/JJYauUj8MWU/видео.html
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Thanks for the help, much appreciated
You're welcome!
Question: I am one of those unfortunate city workers who is about to lose my Medicare. My question is , can I , if I have to pay for a supplemental, can I take this off my taxes since health care can be included in one's tax return?
Yes, your supplemental health insurance is deductible as a medical expense on Schedule A, Itemized Deductions, for Form 1040.
I'm glad the best plan in the world UnitedHealthcare dual complete Panda special a paper I don't have to pay for anything❤
Thanks for sharing. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
It may sound crazy but I am seriously thinking about suing the Federal government for discrimination. When I was employed, it didn't matter how much you made--everyone paid the same for medical and dental premiums regardless of their wages--just the difference between Single and Family. Why should the Federal government get to charge me more because my wages were higher? Also, I paid more during my working years for Medicare because my wages were higher. Medicare is a government monopoly and should not be able to punish people who worked very hard and were successful.
Thank you for the input. We can assist/ advise our Medicare clients with their IRMAA appeals.
If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Agree 100%. The harder you work, the more you are punished.
If you have higher income, you'll pay an additional premium amount for Medicare Part B and Medicare prescription drug coverage. This additional amount is the(IRMAA) “income-related monthly adjustment amount
If you've had a life-changing event that reduced your household income, you can ask to lower the additional amount you'll pay for Medicare Part B and Part D. Life-changing events include marriage, divorce, the death of a spouse, loss of income, and an employer settlement payment. We can assist people with their IRMAA appeals.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
@Anita Martini Define 'fair'
Love it or leave it. Isn't that what y'all say?
My spouse is a high income earner. He’s healthy, he enjoys his job very much and plans to work to age 70. We know we’ll have to pay IRMMA. We’ll be selling our house and moving to our retirement residence, located in another state, upon his retirement. His employer will also be paying out a couple of thousand dollars from a plan his company set up for highly valued technical contributors. His income from work will also drop upon retirement. How many times do we file for an adjustment, as we have 3 major changes that will happen close to each other. Should we sell this house more than 2 years before his retirement?
There is a two year look back for the IRMAA. We can assist people with the IRMAA appeals when we help with your Medicare review. If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
If you are self employed you said you have to pay the full 14.40%. Before that you said you pay 6.20 % and company matches 6.20 percent. that should equal 12.40%. If you are self employed shouldn’t you have to pay 12.4% and not 14.4. Maybe i missed something.
It is 12.4%, not 14.4%. Thank you for catching that.
Correction needed at 5:09 regarding out-of-pocket Part B premiums. A three month payment was required when I began Medicare, but since then I have been billed and make payments monthly.
Thank you for the information and input.
I'm not sure why they don't look back at your most current tax return. Obviously, if one went on Medicare during the first few months of 2023, then look at 2021 MAGI. But after that, it would make sense to looks at 2022 MAGI. Also, when is the recalculation done every year? If it's in November/December, then it really makes sense to look at the previous year MAGI.
That would make sense. It looks like that is the info that the IRS provides to SSA. Each fall they ask the IRS for info to determine next year's premiums.We assist people with the IRMAA appeals. If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
i believe If you file for event change they do look at next year as follow up...
Hi, I am watching the videos to learn about which Medicare supplemental plan I should buy. And from who. Here is my main question. I will be turning 65 this October of this year. BUT, I have been on Medicare part A and B since the year 2000 thus meaning I have been on Medicare for 23 years. I am on Medicare due to a visual disability from birth. Here is my question I understand that I could get a supplement without any medical underwrite at the age of 65. Is that true in my case??? Because I have been on Medicare all these years with no supplement. I have always paid my 20% when I needed to go to the doctor and have outpatient testing done. Will the insurance companies hold it against me that I did not have a supplement for the last 23 years how does that work. I do need to buy a supplement as I am getting older and I do not want to miss the window of the age 65. Can you answer my question and help me out thank you
Yes, you can definitely get a Medicare Supplement without any Underwriting Health Questions asked because you are turning 65. We can help you review and get your Supplement in place for October 2st effective, as early as 6 months out so reach out to us as soon. Also, are you on the Extra Help program? You may be able to get a zero premium Advantage plan which has a CoPay Structure instead of the 80/20 Coinsurance, and additional benefits at no cost, just until you can get a Supplement at 65. You would need a valid Election since we're not in AEP ( Annual Election Period).
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
I never understood why part d is affected also
Have you appealed the IRMAA?
Yes sir, appreciate your content. Have several questions?. I’m 64 years of age . I took the early social security at age 62 . I’m a retired Air Force veteran, I currently get the Tricare prime. Is it true ? 3 months before age 65 do I have to apply for Medicare part B . I heard when Tricare for life kicks in in order to keep Tricare I have to sign up for part B . I have to keep both, that’s what I heard? Since I already have Tricare, through the military, do i have to sign up for part B? This topic is very confusing. Any retired military out there can give me any advice?
Thanks so much
Thank you for your service. Yes, that is correct. It will be Tricare for Life once you turn 65 but you do need to to enroll in Medicare A & B in order to keep the Tricare for life. Medicare becomes Primary Insurance at 65.
There are Medicare plans that coordinate very well with Tri-Care for Life. In many areas they can help reduce your Medicare Part B premium with monthly premium reductions and they are enriched with additional benefits at no cost to you. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
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If you signed up for trickle prime before 2012, then you can keep the prime and opt out of medicare. If for some reason you would later decide to sign up for Medicare, you will be charged 10% extra for the premiums for medicare
@@nikkinegretti4316 Completely wrong.
If you are a retired military member, I don’t see why you would consider a Medicare advantage plan. You are likely eligible for VA medical care. The VA provides optometry and audiology services, not covered by Medicare or TFL. You are eligible for TRICARE Retiree Dental Insurance. If you just use TFL as your secondary insurance, the claims process is seamless.
I retired at 57 and I am now 80 YO. I had a duplex that I sold two years ago that doubled in value over the 33 years that I owned it, of course, the dollar lost half its value over that time. So for that year, I had to pay over $500/month.
The IRMAA can be appealed, we help our clients with the irma appeals and assist with the form and process.
@@MedicareSchool I called them and they basically told me tough shit, if you earned the money, pay the higher rate. Unless I could show an error in their calculations.
Imagine, if you can, that some day the USA will have a health-care system for the people -- that works for every citrizen. But don't hold your breath.
If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
I liked and I’m subscribed ✅✅✅😎😎😎🤓🤓🤓😀😀😀
Thank you!
Dumb A you should have Served. for 4 years in the USAF The VA is keeping me alive.
If you have Medicare and VA coverage, there are Medicare plans that in many areas help reduce your Part B premium with monthly Premium reductions and these plans have many additional benefits at no cost.If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
$97K for a single person is hardly a high income. Also note that the surtax is tilted toward people who make $150K or less while the top earner over $500K as you said pays over $500 a month for part B.
Thanks for the input.
Come on. You're rich. $97,000 a year for a single person makes you rich.
My medical insurance was Tricare (through my husband's military service) and I was FORCED onto Medicare at 65. It is more than double what I paid before AND I have to pay Part B twice. What a racket!
Medicare is your primary insurance, it became the first payor. Part B covers your medically necessary services. Everyone has a Part B premium based on income.
There are Medicare plans that coordinate with Tri-Care for Life and in many areas they help reduce your Part B premium with monthly premium reductions and they are enriched with additional benefits at no cost to you. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
My wife and I have Medicare as primary and TRICARE For Life as the secondary, for the past 6 years. She has had two hip replacements, I’ve had a prostatectomy and salvage radiation. We both have had cataract surgery and multiple specialty appointments and procedures. We have had ZERO out-of-pocket for medical care other than the very reasonable Part B premiums and small co-pays for medications through the TRICARE pharmacy benefit. We feel so fortunate to have such robust health insurance.
@Steven Nevins I have to pay part b twice and I have a $3000 deductible for prescriptions. AND 50% of my SSA is withheld because of my pension from the state of Texas. So the whole thing cost me about 8 or $9000 a year more more. And when my husband retire's, we'll have to multiply that twice. Sorry it's a racket. I'm glad you're happy with it but I'm p*****!
@@lisaharris2518 I am retired military. If your husband is also, I don’t understand why your benefits are so different than mine. I do understand reduction in your social security. My wife has a pension through Texas Teacher Retirement System and same thing happens to her.
Have you ever heard about one spouse going under another spouses part d? I was told that i can go under my husbands part d drug plan with UHC and vo offof mine
No, Medicare plans are all individual plans.
Correct, they are Individual plans.