Community Chat

[NicksmomESQ]

   @hoosieroriginal Who said you have to take Medicare at 65? My dh is 67 & still works full time.We are covered under his employer's health insurance.As long as you work for a company with atleast 20 employees you can stay with their health plan.You will not suffer any penalties when you retire & switch to Medicare if you do it within 8 months.Even the premium will remain as it would have been if you took medicare at 65!!

  If you work for a company with less than 20 employees then you need medicare because in that case it would be considered primary over your employee coverage.

[madzonie]

Our current Part B premiums are $108.  If I understand the info at the Medicare website, ours won't jump up to the $134 because that much of an increase is larger than the COLA we will get from SS.  We have our Part B premiums deducted from our SS checks.

[Allegheny]

@Witchy Woman, just curious, why aren't your monthly Medicare Part B premiums being deducted out of your annuity?

[Witchy Woman]

@Allegheny

Because I am a retired Federal employee covered under the older Civil Service Retirement System which is not based on Social Security.   I made contributions to that plan throughout my 38 years of Federal service, but was not enrolled in SS.  

The newer system, the Federal Employee Retirement System has SS as a component, but not the old system.

Therefore, I must pay the premiums quarterly.  However, a kind poster here said I could contact SSA and have the deduction set up, but I haven't done it.  Was going to, then decided I didn't want anything more coming directly out of my Federal retirement.

Paying it quarterly isn't a problem, so I continue doing it.

[heart of savino]

lets see.i will get about a 5 dollar raise from SS.now my part B from medicare

goes up  another 5 dollars so i come out even there my supplement goes up 10 dolllars and my part D goes up  10 dollars.now i know why my friends say they can

never retire.i hope everyone has savings assests  or  a nice pension. plus SS...

[SilleeMee]

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@Witchy Woman wrote:

@Allegheny

Because I am a retired Federal employee covered under the older Civil Service Retirement System which is not based on Social Security.   I made contributions to that plan throughout my 38 years of Federal service, but was not enrolled in SS.  

The newer system, the Federal Employee Retirement System has SS as a component, but not the old system.

Therefore, I must pay the premiums quarterly.  However, a kind poster here said I could contact SSA and have the deduction set up, but I haven't done it.  Was going to, then decided I didn't want anything more coming directly out of my Federal retirement.

Paying it quarterly isn't a problem, so I continue doing it.

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I would fall in this category of having to pay Medicare premiums out of pocket because I receive a government-type retirement income and I don't get or expect to receive SS. I'm not quite 65 yet so who knows what will develop in the next few years.

[Witchy Woman]

@SilleeMee

It's really not a problem at all.  Once I registered for Medicare, the rest just happened.

They send that notice out like clockwork

Of course, it's a lump of money all at once rather than a monthly amount, but that doesn't bother me.  I know it is coming and I budget for it.

I'm hoping I stay healthy and never have to take advantage of the benefits.  DH will be 65 in 3 years, but doubt he will ever retire.  I cover him under my Federal plan which is a standard option.  The high option plans are just too expensive and not necessary if you are healthy.

[Allegheny]

@Witchy Woman  Ok, now I understand.  I am CSRS also and just applied for Medicare Part B.  I want it to come out of my annuity.  Based on the information I received they are "supposed" to take it out, but I guess I really won't know until January.  

I also carried my FEHB into retirement.  

I have changed my insurance plan under FEHB in preparation for Medicare, as it will be the secondary payer, operating similar to a supplemental plan. 

[151949]

For the most part medicare part B premiums are INCOME BASED - you pay more because your income is higher - however - yes, those who just started are paying more than us who have been on it a few years. The majority of us who have been paying $104 will only go up to $109 because they can't raise our premium more than our COLA raise. 

[151949]

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@madzonie wrote:

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@hoosieroriginal wrote:

I'm not sure why the government requires you to join Medicare at age 65.  I know if I could keep my current insurance, I would - it's much cheaper.  You would think if they could put people off on taking Medicare, they could save some money over the years!  My current insurance is $116/mo.  With Medicare and supplemental, I will be paying around $234 a month. 

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You might not have to sign up at 65.  Check this link for some info:

http://www.elderlawanswers.com/turning-65-what-you-need-to-know-about-signing-up-for-medicare--8968

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I believe you only HAVE TO sign up for part A and that is free.