topic Re: Medicare cost question in Wellness

Medicare cost question

hoosieroriginal — Sun, 18 Sep 2016 14:17:10 GMT

I will be signing up for Medicare next year and I hear for the basic Medicare - you will pay $149 in 2017. Now, is that what I will pay every year thereafter, is it only the new people who will pay higher prices in the following year? In other words, will that $149 go up each year?

Re: Medicare cost question

nomless — Sun, 18 Sep 2016 14:26:44 GMT

Usually, the cost goes up each year, but occasionally it doesn't. I have not heard what the premium will be for 2017. Please talk with a certified Medicare advisor in your area prior to siging up next year so that you understand the options available to you.

Re: Medicare cost question

Gram W — Sun, 18 Sep 2016 14:47:38 GMT

It has gone up every year just like everything else. It goes up way more than my advantage insurance. I have my advantage coverage paid from my Social Security when they take my Medicare this way I can never be told my payments are late or not made. This way when my SS arrives in my account each month I can set down with my budget and pay my bills. My house is mine but it comes with the usual utility bills and property taxes and the car comes with its usual expenses. I am not ready to give up my home and my car yet. I know others do and they tell me it is worry free to let others care for your surroundings. I still prefer my country life and privacy with the wild animals. I find mowing my 3 acre yard relaxing and even shoveling snow is good exercise done in segments. I thrive on the change of seasons. The leaves will soon be changing. Our summer was so dry many leaves fell in Aug. I am watching for the geese to come on their way south. The corn fields and our big lake is a stop over for them each year. We also have many geese who stay here all year and enjoy the fruits of the farmers fields. Boy did I get going. As you can see I really love the area I live in.

Re: Medicare cost question

Scooby Doo — Sun, 18 Sep 2016 15:19:18 GMT

Congress hasn't determined yet if social security recipients will receive a raise. The rumor is that it will be a tiny 0.2 percent increase. The announcement will come in October. A link to this AARP article should answer your questions.

http://www.aarp.org/work/social-security/info-2016/social-security-annual-report-ea.html#slide1

Re: Medicare cost question

hoosieroriginal — Sun, 18 Sep 2016 15:37:26 GMT

@Gram W wrote:
It has gone up every year just like everything else. It goes up way more than my advantage insurance. I have my advantage coverage paid from my Social Security when they take my Medicare this way I can never be told my payments are late or not made. This way when my SS arrives in my account each month I can set down with my budget and pay my bills. My house is mine but it comes with the usual utility bills and property taxes and the car comes with its usual expenses. I am not ready to give up my home and my car yet. I know others do and they tell me it is worry free to let others care for your surroundings. I still prefer my country life and privacy with the wild animals. I find mowing my 3 acre yard relaxing and even shoveling snow is good exercise done in segments. I thrive on the change of seasons. The leaves will soon be changing. Our summer was so dry many leaves fell in Aug. I am watching for the geese to come on their way south. The corn fields and our big lake is a stop over for them each year. We also have many geese who stay here all year and enjoy the fruits of the farmers fields. Boy did I get going. As you can see I really love the area I live in.

@Gram W- you sound like you are in exactly the same position as I am. I have 1 3/4 acres which I take care of by myself - not ready to turn it over to someone to do the work yet - exercise is good for me too - may I ask what part of the country you are in? It sounds much like Indiana - saw my first gaggle of geese a few weeks ago - but none since then. Deer were out in force this morning. That said, the cost of Medicare is going to exceed what I'm paying now for Obamacare by about 50%! It's concerning on my budget, then I'll have to pay for additional to cover the 20%. Not liking this, but at least I'll know when I go to the dr it will be paid for I guess.

Re: Medicare cost question

Gram W — Sun, 18 Sep 2016 16:05:58 GMT

@hoosieroriginal. I live in central NY. We have lots of lakes, gorges, wineries, deer, fox and others in my yard with birds of all sizes, etc and a few hours drive to the mountains. Because of my lupus, etc and all that comes with it I had to go with an advantage program and not a supplement. Again this year my meds went into the donut hole in Aug. Docs said I can not eliminate any and I have always taken generics where they are available. So many doctors are saying they can not take on any more Medicare patients. They lose money on the Medicare, Medicaid designated prices and the free care given they are having a hard time. The government paper work on each patient and insurance forms have increased so much all have had to hire more people in their business office. I have watched this problem grow as I go to 3 offices every 4 months. Good news I have slowed down the progression of everything, even the arthritis. Just got my 2017 Advantage books yesterday. Now begins the hunt and comparisons so that I can make a decision that is best for my situation. Right now I have only 1 doctor who does not accept my insurance but he is trying to change that within his organization. The hunt is on. Time flys so I can't waste time.

Re: Medicare cost question

Carmie — Sun, 18 Sep 2016 16:30:25 GMT

@nomless wrote:
Usually, the cost goes up each year, but occasionally it doesn't. I have not heard what the premium will be for 2017. Please talk with a certified Medicare advisor in your area prior to siging up next year so that you understand the options available to you.

What the heck is a Certifid Medicare Advisor? I have never heard of one.., where are they and who certifies them? There are Certified Senior Advisors though

Your Medicare Part B premium for 2016 is based on your adjustable tax earnings for 2014 for new enrollees. This amount is now $104.80 for a single tax payer making $85k or less and a joint tax payer making $170K or less.

The rate is adjusted up depending on your reported adjusted gross income.

Medicare Part B premiums have gone up over the years, but not by much IMO compared to other insurance premiums in the last 25 years or so. In 2012 the premium was $99.90.

Re: Medicare cost question

Rileyx — Mon, 19 Sep 2016 14:29:27 GMT

Re: Medicare cost question

scotnovel — Sun, 18 Sep 2016 19:19:02 GMT

@Rileyx wrote:
I read an article recently that said the same thing (hoping Congress comes through): The Trustees report indicates that up to a third of people paying $121.80 a month for Part B in 2016—up from $104.90 in 2015 for many—could see another increase to as much as $149. Congress may view that as too significant an uptick in a short period and move to limit it, especially in an election year. Some people with Medicare could face a 20% increase in their Part B premiums in 2017 unless Congress intervenes this fall and prevents it. The warning of the increase came in late June in the annual report of the Medicare Trustees to Congress, on the financial state of the program.

The increase (if any) in Social Security is NOT something that Congress determines each year and the fact that it is an election year means nothing. There is a formula, that is based on legislation enacted in 1973, that determines cost-of-living adjustments for Social Security and Supplemental Security Income (SSI) benefits. Unless Congress votes to change that 1973 legislation or to add some special one time benefit payment or increase, the COLA will be automatically determined like it has been every year since the 1973 legislation was enacted.

Re: Medicare cost question

Wayne-QVC — Sun, 18 Sep 2016 21:03:09 GMT

This post has been removed by QVC because it's unkind.

Re: Medicare cost question

Moonchilde — Sun, 18 Sep 2016 23:48:52 GMT

@Carmie wrote:
@nomless wrote:
Usually, the cost goes up each year, but occasionally it doesn't. I have not heard what the premium will be for 2017. Please talk with a certified Medicare advisor in your area prior to siging up next year so that you understand the options available to you.
What the heck is a Certifid Medicare Advisor? I have never heard of one.., where are they and who certifies them? There are Certified Senior Advisors though

Your Medicare Part B premium for 2016 is based on your adjustable tax earnings for 2014 for new enrollees. This amount is now $104.80 for a single tax payer making $85k or less and a joint tax payer making $170K or less.

The rate is adjusted up depending on your reported adjusted gross income.

Medicare Part B premiums have gone up over the years, but not by much IMO compared to other insurance premiums in the last 25 years or so. In 2012 the premium was $99.90.

Here is one way:

https://www.nahu.org/education/certifications/medicare.cfm

It's certification and education for (primarily health) insurance agents, not the man on the street. In addition, some insurance agencies specialize in *nothing but* Medicare supplements and MA, and have multiple employees trained to be aware of all relevant laws in each state, since this can vary fairly widely from state to state, which people on these forums often fail to realize.

Re: Medicare cost question

BLH — Mon, 19 Sep 2016 15:57:49 GMT

I wonder if the original poster is talking about the annual medicare deductible. Yes, it goes up almost every year. i remember when it was $100.00

Re: Medicare cost question

151949 — Mon, 19 Sep 2016 23:47:14 GMT

BY LAW - they can't raise the monthly cost of medicare unless they also give a COLA raise. Thus far I have not been notified by SS that they are going to give a COLA raise this year. So - without that notification the entire discussion is a moot point. COLA raises are not given by congress or the president - they are from a formula that was a law passed about 30 years ago. In the 6 years I have not , as yet, had a raise in my medicare that I felt was unreasonable, nor a COLA raise that was a windfall.

Re: Medicare cost question

Isobel Archer — Sat, 24 Sep 2016 14:58:40 GMT

The cost of Medicare currently is different for people who do not receive Social Security. As some have noted the current cost for SS recipients is $104. That is what my DH pays. I, however as a CSRS Fed retiree pay $121 - and it is projected to go to at least $149 next year.

The law says if SS recipients do not receive a COLA, their Medicare will not go up. Thus, to try to make up for the shortfall, those of us who do not receive SS (even tho CSRS folks did not get a COLA either - and the many SS recipients who also receive pensions are not penalized as we are) have to pay more.