I received my IRMAA increase, Arrgh!

[Chuckanut]

Quote:

Originally Posted by GrayHare This seems a good place to mention that skipping Part D coverage for a period then adding it later will trigger a surcharge over and above Part D's usual costs.

And, IIRC, the surcharge goes on for life.

[Dtail]

Quote:

Originally Posted by Chuckanut And, IIRC, the surcharge goes on for life.

Correct.

[athena53]

Quote:

Originally Posted by molly312 OUCH- IRMAA bites again. As a widow, I really get slammed for both IRMAA and SS. In addition to that my Supplement is another $284. I have the cheapest Part D and only use GoodRX when possible.

I know- I'm in the same boat. The income thresholds for various IRMAA levels for singles are HALF what they are for married so it's easier to get hit with them.

But...being solvent and not marrying some nice penniless old guy whose LTC plan is "qualify for Medicaid": Priceless.

[aja8888]

Quote:

Originally Posted by athena53 I know- I'm in the same boat. The income thresholds for various IRMAA levels for singles are HALF what they are for married so it's easier to get hit with them. But...being solvent and not marrying some nice penniless old guy whose LTC plan is "qualify for Medicaid": Priceless.

I'm in that single boat too....but:

....being solvent and not marrying some nice penniless old gal whose LTC plan is "qualify for Medicaid": Priceless.

[Sue J]

Quote:

Originally Posted by Time2 Sorry folks, I think I have a fundamental misunderstanding. I still don't know if I have Medicare Part D, I know I have a supplemental policy Part D from Humana. Does regular Medicare paid to CMS Medicare Insurance, include Medicare Part D coverage? Below is a photo of my Medicare Premium Bill Summary of Charges. No Charge for Part A, $494.70 charge for Part B, No Part B IRMAA charge, and No Part D IRMAA charge. Does that mean I don't have Medicare Part D coverage? Or is there no charge for Medicare Part D until you hit IRMAA?

Time2,

Go to your Medicare.gov account and scroll down to MY PLANS.

This will tell you what you are enrolled in. You are calling it a Supplement Part D. A supplement is different than a Part D which is the drug coverage.

Maybe you have a Medical Supplement PLAN D? That's a type of Medicare Supplement coverage. Many of us have Plan G or N.

Looking at the photo of your bill you pay $164.90 a month for 3 months at a time, it doesn't say if you have a PART D prescription drug coverage and in 2023 you aren't paying any IRMAA.

[Time2]

Quote:

Originally Posted by athena53 But...being solvent and not marrying some nice penniless old guy whose LTC plan is "qualify for Medicaid": Priceless.

Ya, at least us old guys get a good looking gold-digger, or dream about it.

[aja8888]

Quote:

Originally Posted by Time2 Ya, at least us old guys get a good looking gold-digger, or dream about it.

It's best left to dream about the good looking gold digger!

[audreyh1]

When you pay IRMAA and not yet drawing SS, you pay Medicare premiums monthly.

At least you don’t have to pay three months up front of the larger amount.

[aaronc879]

Sure wish I had to pay IRMMA. It would mean i'm rich and still would be after paying the relatively small extra Medicare payment.

[Car-Guy]

^^^^^
Well I might feel rich if I wasn't in the 24 to 37% tax bracket and paying IRMAA on top of that. But I get your point..

[Time2]

Quote:

Originally Posted by Sue J Time2, Go to your Medicare.gov account and scroll down to MY PLANS. This will tell you what you are enrolled in. You are calling it a Supplement Part D. A supplement is different than a Part D which is the drug coverage.

The verbiage for this is poor in my mind. If I go to Humana and buy a Part D Drug plan it has nothing to do with Medicare. I'm not paying Medicare, Medicare is not paying for any of my prescription drugs. So why call t Medicare Part D? I know, it is what it is, but it is confusing. Yes I go to Medicare.gov and they tell me I have a Part D plan with Humana, I already knew that. I just don't like that I get a $53.50 IRMAA charge for something I pay to a private company.
From the medicare.gov website,
"Private companies run Parts C and D. The federal government approves each plan. Costs and coverage types vary by provider." Yes, still ranting.

Quote:

Maybe you have a Medical Supplement PLAN D? That's a type of Medicare Supplement coverage. Many of us have Plan G or N.

Yes, I have a plan G.


Looking at the photo of your bill you pay $164.90 a month for 3 months at a time, it doesn't say if you have a PART D prescription drug coverage and in 2023 you aren't paying any IRMAA.[/QUOTE]


Yep. I have a private company, Humana Part D prescription Plan.

[GrayHare]

Part D is often referred to as part of Medicare because the only way to be eligible to get Part D is by having Medicare coverage.

[Sue J]

Quote:

Originally Posted by Time2 I just don't like that I get a $53.50 IRMAA charge for something I pay to a private company.

That is a very good point!

We will never be close to any IRMAA. I'm just fine with that. It does seem outrageous that you shop around for the best Part D plan for your situation, maybe the premium is $10-$20 or as some of us found for 2024 it's as low a $0.00! And then you get the IRMAA add on of between $12.90 and $81.00.

What a crazy system. I know it's because Medicare is subsidized and they decided that people making a lot of money should not be subsidized as much. But what a heavy penalty.

[CardsFan]

Quote:

Originally Posted by Time2 The verbiage for this is poor in my mind. If I go to Humana and buy a Part D Drug plan it has nothing to do with Medicare. I'm not paying Medicare, Medicare is not paying for any of my prescription drugs. So why call t Medicare Part D? I know, it is what it is, but it is confusing. Yes I go to Medicare.gov and they tell me I have a Part D plan with Humana, I already knew that. I just don't like that I get a $53.50 IRMAA charge for something I pay to a private company. From the medicare.gov website, "Private companies run Parts C and D. The federal government approves each plan. Costs and coverage types vary by provider." Yes, still ranting. Yes, I have a plan G. Looking at the photo of your bill you pay $164.90 a month for 3 months at a time, it doesn't say if you have a PART D prescription drug coverage and in 2023 you aren't paying any IRMAA.

As said earlier, you really need to educate yourself on Medicare. Complaining and ranting about WHY they call it part D, etc. is a waste of your time and ours.

ALL Medicare supplement, Advantage plans are subsidized by MEDICARE. Including Part D.

What ever you pay to Medicare as an IRMAA charge just reduces your subsidy.

Get Over It (cue Glenn Fry and Don Henley)

[Chuckanut]

Quote:

Originally Posted by aja8888 I'm in that single boat too....but: ....being solvent and not marrying some nice penniless old gal whose LTC plan is "qualify for Medicaid": Priceless.

I learned early in my second Bachelorhood that any gal I got serious with had to be able to afford on her ownthe life style she had chosen. IOW, neither of us is dependent on the other. And, both of us need to be financially independent of the other. If one is better off and chooses to spend his/her money to upgrade the experience for both, great! That’s a nice gift. But neither of us is dependent on the other for their chosen lifestyle.

So far the above works pretty well.

Back to IRMAA. I think it would be less painful if the cliffs we go over were not so steep. The guy who’s is $1 over the threshold pays the same increase as the gal who is tens of thousands of dollars over the threshold. A more graduated increase would take a lot of the psychological pain out of IRMAA, IMO.

[USGrant1962]

Maybe pet peeve thread material, but I wish people would quit saying Medicare is "subsidized". It is not subsidized, it is a government program funded by specific taxes. A subsidy is cash paid or a tax credit to an individual. Neither applies to Medicare, as opposed to ACA for example.

Nobody says public schools are subsidized, nobody says highways are subsidized, nobody says SS is subsidized, nobody says local police are subsidized, nobody says military pay is subsidized, nobody says the DC bureaucracy is subsidized.

Sure, there are parallel health insurance systems to Medicare, but it is 100% a government program and not a subsidy. IRMAA is just an additional Medicare tax on top of what you paid throughout your working career. I'm not particularly opposed to IRMAA, but don't pretend you are losing some fake "subsidy". You are simply paying higher taxes. Medicare is a government program funded by taxes - nothing else.

[Dash man]

Quote:

Originally Posted by USGrant1962 Maybe pet peeve thread material, but I wish people would quit saying Medicare is "subsidized". It is not subsidized, it is a government program funded by specific taxes. A subsidy is cash paid or a tax credit to an individual. Neither applies to Medicare, as opposed to ACA for example. Nobody says public schools are subsidized, nobody says highways are subsidized, nobody says SS is subsidized, nobody says local police are subsidized, nobody says military pay is subsidized, nobody says the DC bureaucracy is subsidized. Sure, there are parallel health insurance systems to Medicare, but it is 100% a government program and not a subsidy. IRMAA is just an additional Medicare tax on top of what you paid throughout your working career. I'm not particularly opposed to IRMAA, but don't pretend you are losing some fake "subsidy". You are simply paying higher taxes. Medicare is a government program funded by taxes - nothing else.

Sorry, but you’re incorrect. The Medicare tax you pay for during your working years is for Medicare Part A. Part B is absolutely subsidized.

[Time2]

Quote:

Originally Posted by CardsFan As said earlier, you really need to educate yourself on Medicare.

Ya, I've learned IRMAA can easily double your Medicare premium. I've learned you can believe what the paperwork describes when number say you have a 290% increase in your premium, you are not misreading the form. I've learned there is no Medicare part D, (even though that is what I read) it is a private company that is subsidized by the government. Part B does pay for certain drugs, mostly those consumed in the doctors office or hospital.

[/quote] Complaining and ranting about WHY they call it part D, etc. is a waste of your time and ours.[/quote]


Defining terms is part of the learning process, if it is a waste of your time, why are you reading and responding?

Quote:

ALL Medicare supplement, Advantage plans are subsidized by MEDICARE. Including Part D.

In my opinion, Advantage plans are too heavily subsidized, i.e. that are very profitable. If not, we would not have thousands of TV commercials and dozens and dozens of letters trying to convince us to us to buy advantage plans or even switch from supplemental plans to Advantage plans.


What ever you pay to Medicare as an IRMAA charge just reduces your subsidy.

Get Over It (cue Glenn Fry and Don Henley)[/QUOTE]


No further comment.

[hausfrau]

Quote:

Originally Posted by GrayHare This seems a good place to mention that skipping Part D coverage for a period then adding it later will trigger a surcharge over and above Part D's usual costs.

So this means that we should sign up for Part D even though we don't take any prescription drugs? I'm just now researching Medicare (spouse qualifies in two years).

[audreyh1]

Quote:

Originally Posted by hausfrau So this means that we should sign up for Part D even though we don't take any prescription drugs? I'm just now researching Medicare (spouse qualifies in two years).

Yes, sign up for the cheapest plan to start. Wellcare is offering $0 for 2024. You can change each year as your needs change and as part D plans change their formularies. Part D open enrollment is Oct 15 until Dec 7 for the following year.