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How to Calculate Your 2012 COLA Payment
Fedsmith ^ | October 21, 2011 | Ian Smith

Posted on 10/21/2011 8:22:39 AM PDT by Poundstone

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To: napscoordinator
I am glad that Social Security is going up too.

Medicare increases will probably wipe out most of the raise. The last "increase" resulted in a $5 drop in my wife's SS payment because of that.

21 posted on 10/21/2011 10:58:02 AM PDT by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: TomGuy

I thought Part D was voluntary.


22 posted on 10/21/2011 11:23:45 AM PDT by ncpatriot
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To: ncpatriot
I thought Part D was voluntary.

It is. Sort of. You can choose not to sign up for a prescription drug plan. But you will be penalized and that penalty will accumulate for each month you are not covered by an approved prescription drug plan. If, later, you do enrol, you will pay the accumulated penalty monthly, thereafter.
23 posted on 10/21/2011 12:40:02 PM PDT by TomGuy
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To: ncpatriot

http://www.medicare.gov/navigation/medicare-basics/medicare-benefits/part-d.aspx#LateEnrollmentPenalty

The above links to the medicare.gov website information regarding the Part D penalty.


24 posted on 10/21/2011 12:47:11 PM PDT by TomGuy
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To: TomGuy

“”They must sign up for an approved Part D Prescription Drug plan. Failure to do so will result in a monthly penalty that will accumulate until they do enrol in an approved plan. And, the penalty will not go away when they do enrol — once it starts, it will continue forever””

My post was regarding Part B which a person accepts or declines when they sign up for SS benefits. If it’s declined, there is a penalty for signing up for Part B at a later time.

I’m not aware of any requirement that a person MUST buy Part D Prescription coverage. That coverage is sold by private companies and only deducted from SS benefits if requested by the enrollee.

Are we talking about the same thing here?


25 posted on 10/21/2011 6:07:21 PM PDT by Thank You Rush
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To: pepperdog

PING


26 posted on 10/21/2011 7:33:58 PM PDT by Coldwater Creek (He who dwells in the shelter of the Most High will rest in the shadow of the Almighty Psalm 91:)
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To: TomGuy
I just found this on that same website: "Medicare offers prescription drug coverage to everyone with Medicare. If you decide not to join a Medicare drug plan when you’re first eligible, and you don’t have other creditable prescription drug coverage, or you don’t get Extra Help, you’ll likely pay a late enrollment penalty." To me sounds like if you sign up with another Rx plan, then there is no penalty.
27 posted on 10/25/2011 7:21:31 PM PDT by ncpatriot
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