My wife is on Medicare (will be 67 next month). I am 61, so I have several more years to go. Back in late 2018, we sold our house in California (Silicon Valley) that we owned for over 23 years. We were fortunate to live in an area where the house sold for a bit over four times what we paid for it. As such, we ended up with a whopping capital gains tax bill for 2018 (*well* beyond the $500k exemption).
Now comes the one year punishment. My wife's Medicare monthly premium will be maxed out for 2020, about $400/month more than the base Medicare premium. This year (2019), our taxable income will be near $75k, so her Medicare premiums will bounce back to the base cost in 2021.
We're hoping to save a little money by switching her out of Plan F supplemental to Plan G, particularly in light of Plan F costing a little over $30/month more than Plan G. I guess they're trying to make Plan F less attractive going forward. But we have to double-check to see if she can do that. Something about not being Guaranteed Issue for Plan G (only Plan F).
Now comes the one year punishment. My wife's Medicare monthly premium will be maxed out for 2020, about $400/month more than the base Medicare premium. This year (2019), our taxable income will be near $75k, so her Medicare premiums will bounce back to the base cost in 2021.
We're hoping to save a little money by switching her out of Plan F supplemental to Plan G, particularly in light of Plan F costing a little over $30/month more than Plan G. I guess they're trying to make Plan F less attractive going forward. But we have to double-check to see if she can do that. Something about not being Guaranteed Issue for Plan G (only Plan F).