SS and Automatic Medicare Part B Payment Questions

[ShokWaveRider]

Hi all I figure that some of you have come up against these questions and their answers with respect to SS and Medicare Payments.

1) If one taking SS prior to 65, do Medicare Part B premiums automatically get deducted when one reaches eligibility and applies?

2) If one waits till 70 to take SS, and is already getting Medicare Part B and paying it via one's bank, CU or check, does it automatically get paid and deducted from SS at 70?

3) Can one have their Medicare Part G & D (or other supplements) deducted from Monthly SS Payments?

4) Assuming one is having Medicare Part B deducted from one's SS payments, come Tax time does the SS Tax income form 1099R include the Medicare Part B payment or is it automatically deducted pre-tax, and hence not on the SS Tax income form 1099R?

Thanks in advance for your answers.

 

[Car-Guy]

Hi all I figure that some of you have come up against these questions and their answers with respect to SS and Medicare Payments.

1) If one taking SS prior to 65, do Medicare Part B premiums automatically get deducted when one reaches eligibility and applies?


Thanks in advance for your answers.

Yes. IIRC, they didn't ask me, it just happened. Seems I recall getting a letter letting me know it was going to happen "and" I could opt out if I wanted.

 

[TheWizard]

Your gross SS payment is subject to Federal income tax, whether or not Medicare premiums are deducted.

But what's amusing is: if you elect to have withholding done from your SS payment, the percentage selected is applied to your net payment after subtracting the Medicare amount...

 

[jollystomper]

Yes. IIRC, they didn't ask me, it just happened. Seems I recall getting a letter letting me know it was going to happen "and" I could opt out if I wanted.

Did they start taking it out the month you turned 65? I am just trying to sort things out with DW's situation. She is taking her SS now. Whereas she can apply for Medicare as early as June, I am assuming that if she just waits for the automatic enrollment the Part B payment will begin in the month she turns 65. Is that correct?

 

[TheWizard]

Did they start taking it out the month you turned 65? I am just trying to sort things out with DW's situation. She is taking her SS now. Whereas she can apply for Medicare as early as June, I am assuming that if she just waits for the automatic enrollment the Part B payment will begin in the month she turns 65. Is that correct?

That's basically correct. And if there's any delays, they will make it right in following months...

 

[W2R]

That's basically correct. And if there's any delays, they will make it right in following months...

Right! I was paying by check, and when they started taking it from my SS then that month I accidently paid twice. They refunded the overpayment after a month or two IIRC.

 

[Car-Guy]

Did they start taking it out the month you turned 65? I am just trying to sort things out with DW's situation. She is taking her SS now. Whereas she can apply for Medicare as early as June, I am assuming that if she just waits for the automatic enrollment the Part B payment will begin in the month she turns 65. Is that correct?

That's exactly the way it worked for my DW this year when she turned 65... I just checked her bank account and verified her monthly SS deposits dropped (due to MC payments) the month she turned 65.

 

[jollystomper]

That's basically correct. And if there's any delays, they will make it right in following months...

Right! I was paying by check, and when they started taking it from my SS then that month I accidently paid twice. They refunded the overpayment after a month or two IIRC.

That's exactly the way it worked for my DW this year when she turned 65... I just checked her bank account and verified her monthly SS deposits dropped (due to MC payments) the month she turned 65.

Thank you all very much for the info!

 

[Sunset]

Hi all I figure that some of you have come up against these questions and their answers with respect to SS and Medicare Payments.

......

4) Assuming one is having Medicare Part B deducted from one's SS payments, come Tax time does the SS Tax income form 1099R include the Medicare Part B payment or is it automatically deducted pre-tax, and hence not on the SS Tax income form 1099R?

Thanks in advance for your answers.

It shows on the 1099R what was paid for Part B.