Posted on 10/12/2018 11:16:36 AM PDT by TomGuy
For 2019, Social Security is getting a 2.8% increase.
Medicare Part B is increasing from $134 to $135.50.
Other rates for high earners.
(Excerpt) Read more at forbes.com ...
Medicare Part B is increasing from $134 to $135.50.
Other rates for high earners at linked Forbes article.
With inflation looming the 2.8% might be closer to 4% next year.
Going to be nasty for my wife in 2020 with the sale of our house this month. The capital gains from the house sale, beyond the couples’ exemption, is going to put us in a much higher tax category for that one year. The good news is we made quite a bit of money on our house of 23 years.
My wife and I both turn 65 in a couple months (six days apart). Plan A only for us, and I don’t expect to use it.
Unfortunately, that COLA increase won’t cover the Medicare increase.
You’ll still be charged for it tho, right? Plus, I think Medicare automatically becomes the primary and private insurance secondary. So, if you have it, it has to be used.
Update to my post. If you’re hospitalized. Hopefully not tho!!
“My wife and I both turn 65 in a couple months (six days apart). Plan A only for us, and I don’t expect to use it.”
Nobody expects to get sick, until they do. You could find yourself stuck in a crappy plan with no way to get out. I am in Plan G, which is guaranteed renewable for life as long as I pay the premium - currently $112/mo.
Check out this youtube channel before making a final decision => https://www.youtube.com/watch?v=bigrFu-u6sU
There is a lifetime penalty for not getting part B when you turn 65. There are some exceptions, for having other health insurance, but you might want to ask them at Social Security. My mom paid the penalty for over 30 years.
Correction to post #9. Here is the guy’s youtube channel =>
https://www.youtube.com/channel/UCttfJcDqkWJAORC6ZJWiIIg
bmp
Well, it’s good to make money, right? It must be a substantial sum, because a lot of the gains from the sale of a house is exempt. I’m not trying to be flippant. I hate to see anyone pay a lot in taxes for our government to waste.
If you turn 65 or your spouse is still working Medicare is secondary payor until you disenroll from the commercial insurance
I opted out of Part B. I don’t pay Part B premiums. I’m self-pay for outpatient procedures. I could use the VA though if I have too. Some outpatient procedures aren’t cheap. There are often self-pay discounts however. Trying to figure out which way to go isn’t easy. What are Part B deductibles, how much will premiums rise, and what procedures might I need in coming years,...
Correct. Can you disenroll from Medicare if you’re over 65? Just curious.
Wait. If a person over 65 (as an example) has Medicare and private insurance, Medicare is always the primary.
We’re you saying the exception would be if that person has a spouse who is working. Otherwise, Medicare is the primary.
Were not we’re ( darn autocorrect)
Yes, it's a pretty hefty amount for us; probably a drop in the bucket for Silicon Valley execs or Hollywood stars in California. As I said before, it is good news, and the even better part is we'll be leaving California in a week. Love the weather where we live, but not much else.
I went with United Healthcare without AARP. My wife’s is $55 and Mine is $89 with Dental.
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