Since you are speaking to older people you may want to slow down a bit/a lot. Not only is this is all new information we are figuring out but older brains just doesn’t work as fast as they did when it was younger. Thanks for a great video.
The great thing about RU-vid is that you can actually change the speed of the video. You can do this by clicking the setting gear at the bottom right hand corner of the video and then clicking playback speed. We're happy you enjoyed the video nonetheless :)
Hi Carmen - Typically a Dual plan combines Medicare & Medicaid. Medicaid can cover additional services - so if you qualify, you would want to look into the difference of that and Traditional Medicare.
@@t.a.b.8376 - All assistance is based on financial resources including savings. From *SS.gov* • Your yearly income is $18,210 or less for an individual or $24,690 or less for a married couple living together. • Your resources are $14,100 or less for an individual or $28,150 or less for a married couple living together. Resources include your savings and stocks, but not your home or car or the value of any life insurance you may have. The above amounts are for 2018 and may change in 2019. If your income
@@terryadams1830 Medicare A is free. Medicare B is approximately $140.00 per month. Medicare gap plans and drug plans are very reasonable. It doesn't matter how much you make. What you make is a non issue. Well, at least in my case it was.
@@t.a.b.8376 If you're disabled and poor, you don't pay anything for Medicare premiums, Medicaid picks that up. Also, drugs are filled for $1.30, which it SHOULD be for ALL Americans!!!
In order to keep Tricare past 65, you must have Part A and Part B. You can learn more here: boomerbenefits.com/medicare-for-fehb-va-tricare-webinar/ and boomerbenefits.com/tricare-and-medicare-advantage
Is IRMAA payment a qualified HSA expense? One school of thought is that IRMAA is part of the Part B and Part D premium, therefore, it is eligible as qualified HSA expense. The other is that IRMAA (Income Related Medicare Adjustment Amount) is a surcharge and not a premium thus is not an eligible qualified HSA expense. After reading IRS publication and Internal Revenue Code, I can't seem to find a definitive answer.
We would guess yes, you can pay the IRMAA with HSA funds, but we aren't expert CPAs, bankers, or anything else that deals with HSAs, so we can't know for certain.
@@BoomerBenefits That would be my guess as well. You would think people have been trying that by now and got audited and if it didn't work that way, I would actually find something by searching the web.
It seems middle income people who have worked all of their lives don't get any breaks. Also the "hold harmless" law is making my Medicare premiums increase!! Why should I have to go back to work to subsidize those who are getting the subsidies. I can't listen to this stuff. Pisses me off too much.
As a retired military member I understand I can continue to pay for Tricare Prime, by doing so is there any reason I would need to pay for Medicare Part B and Part D?
We aren't Tricare and aren't 100% familiar with it's different programs. However, we do know that you can only keep Tricare for Life past 65 if you have both Part A and Part B. We suggest discussing this with your Tricare provider.
Can you open an HSA and put a considerable of money it, prior to going on Medicare - even if you are approaching the 6 month sign up period for Medicare?
We are doing some research into this matter as my wife and I will turn 65 next year. We have gotten tips from your site and others and may see local advisors as well. Is it possible to get opinions from various sources and each get paid for their help or does only one source get paid due to 'signing on the dotted line' with only one person. I guess I am asking if we must 'sign up' with one person to get the help we need regarding Medicare fees or would 'signing up' with various people be wise (or foolish)??
Hi Peter, it sounds like you are doing your due diligence in research. It is best to streamline your policies with one agent - it is better for you, better for the agent and better when issues arise. Whoever you sign up through becomes the agent on record and therefore receives the built-in commission on the policy. Our website is a free resource so we encourage you to gather information there and then if you do choose to use Boomer Benefits, that would be the time you would talk with an agent and get your questions answered through them. boomerbenefits.com/faq/why-do-i-need-an-agent/
@@BoomerBenefits Also, we made a substantial Roth conversion last year and since that is 2 years before starting Medicare, will our premiums automatically increase although we have not (yet) made any conversions this year? We are delaying making any conversions so far due to not wanting to increase our Medicare premiums.
@@peterhoffman8525 SS looks at your Modified Adjusted Gross Income (MAGI) and any tax exempt income from your tax return from 2 years prior. If your Roth conversion is part of that, then it will likely be evaluated once you enroll in Medicare. However, this is something that can be reconsidered through an appeal. Learn more: boomerbenefits.com/reconsideration/
Earlier this month I appealed my IRMAA amount for both 2019 and 2020 since my income was and will be substantially lower than it was in 2017 and 2018. I couldn't get an appointment at my local office, so I mailed everything (and got a confirmation of receipt.) Does anyone have any idea how long it takes for the SSA to respond?
I recently applied for medicare only in April 2021. In 2019, I had purchase a house as my primary resident and had transferred funds from my 401k as a downpayment. In the process, this had inflated my adjusted gross income and my Part B premium is higher than the standard rate. Can I appeal this in anyway, as this is not my regular income and if so, what can I do to try and reduce this premium.
I was sent the extra helps package. My brother said it was a scam but no it’s legit. They want to know absolutely everything you have. Wow 😯 guess that’s okay if you have very little. So I wouldn’t qualify but I was a bit surprised how detailed it is.
Hi there My uncle is barely a little higher to qualify for Any extra help with part D or premiums He struggles. On his low income to pay when he gets in the donut hole He currently has Humana. advantage plan Is there any help for him ? He has already applied and been denied although as I stated he is barely over the Exact low income level Thanks so much I am trying to help him as he is not computer savvy at all Plus is Kentucky one of the states that could offer him any help at all? Thank you again
Hi Cathy, unfortunately, we don't deal with Medicaid. Plus, it varies by state. So we won't be much help to you. We suggest calling his local Medicaid office to see if there is any other program he might qualify for. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-QlfTTU5RwcE.html
My Medicare premiums all included with a medigap and drug plan are so reasonable I'm like a kid in a candy store and i made over six figures for more than 25 years of my working life. Good info on part D. Thanks.
Yes, you can apply for a Medigap plan at any time throughout any year. However, you only have 6 months from the day your Part B starts to apply for a Medigap plan without having to answer health questions. After this 6 months, you'll likely have to answer health questions and could be turned now due to pre-existing conditions.
THE END TO FOR-PROFIT HEALTHCARE>SINGLE PAYER AT 4% AFTER THE EXEMPT $29,000.00 INCOME! MUCH LESS COST THAN THE 20% WE PAY NOW THAT WILL SOON BE 26% OF OUR INCOME UNDER BIDEN OR TRUMP!! PEOPLE NOT PROFIT!! MEDICARE FOR ALL> P E R I O D!!!! SENATOR SANDERS 2020
