Questions tagged [medicare]

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2
votes
2answers
42 views

What happens when the Medicare deductions on one's Social Security (SS) check are larger than the SS benefit?

This is probably going to happen to me in 2021. For 2020, my net monthly SS benefit will be $8.00 (eight dollars). A little more IRMAA (income related monthly adjustment amount, which is a surcharge ...
2
votes
1answer
68 views

Income tax on Medicare premium paid by employer

We are a church in Texas. The pastor's contract with the church includes payment for health insurance for him and his family. The pastor's wife turned 65 this year and is now eligible for Medicare. ...
2
votes
1answer
55 views

Medicare Part A and a Health Savings Account (HSA)

I'm over 65, have a part-time job with a high-deductable health plan and a Health Savings Account (HSA). I want to take Social Security, which includes Medicare Part A automatically (retroactive for ...
3
votes
1answer
111 views

Medicare and living in Mexico

If a US citizen moves to Mexico, can he/she live in a town near the border, maintain his/her coverage of Medicare and come to the US for medical care? He/she would want his medical care to be paid for ...
7
votes
1answer
135 views

Can I defer starting Medicare if 65 and on COBRA after a lay-off? (HSA, COBRA, and Medicare)

I turned 65 in February, am still working full-time, and have medical insurance through my company that qualifies me to defer signing up for Medicare. I've been contributing the maximum to my HSA ...
7
votes
0answers
229 views

Paying for nursing home care: What is the relationship between Medicare and owned property?

This question is prompted by a comment in a question I asked previously regarding the finances of aging parents (assets include a small savings and some property). I will summarize the comment as ...
1
vote
1answer
88 views

Are 401k withdrawals included in income for Medicare premiums?

How do I report 401k withdrawals to Medicare if the IRS does not report it?
2
votes
2answers
117 views

Medicare penalty

I am 77 years old now and have never enrolled in Medicare because I have been fully insured through my husband's employment all these years. When he finally retires and I go on Medicare will I be ...
6
votes
1answer
174 views

HSA and Medicare: what if I get laid off?

I'm approaching 65; will continue working for a large company; will not be taking Social Security; have a high deductible insurance plan through my company which I will continue using (so will not ...
4
votes
1answer
120 views

Double dipping Medicare payments

I am 78 years old. I collect Social Security, and am on Medicare, and also work part time paying SS and Medicare premiums. Since Medicare is being deducted from my SS every month, can I get refunded ...
0
votes
1answer
58 views

Downside to W2 with base salary and allowance?

This is simply an example, so please bear with me. ExxonMobil (headquartered in TX) offers me a software development position as a W2 employee, with my total compensation being $5,000/month. They ...
2
votes
1answer
116 views

Medicare A for 5 years; how to now sign up for B

I started Medicare A in 2013 when I turned 65. In the years since, I have remained on my husband's employer group insurance, so did not need Medicare B. Although he still has this insurance, I would ...
2
votes
0answers
468 views

Social Security and Medicare taxes not withheld [duplicate]

I have been working with same employer in the US since the start of H-1B in 2016. I just noticed that my W2 shows no SS and Medicare paid by employer. Since I applied for a change of status from F1 ...
1
vote
1answer
552 views

Are Medicare Part B premium income tiers indexed for inflation?

I am looking at the following URL: https://www.medicare.gov/find-a-plan/staticpages/partb-premium.aspx# On this page, I see: Individuals with a MAGI above $107,000 up to $160,000 Married ...
0
votes
1answer
123 views

How likely is it for my Medicaid plan to approve a Prior Authorization?

I just enrolled in Medicaid, specifically the UnitedHealthCare Community Plan in New Jersey. Now most of the medications I'm currently taking are included in the Preferred Drug List, but there are a ...
8
votes
2answers
3k views

Why do I have to pay Medicare payroll deductions while I am retired if I am still working?

If I am retired for the last 5 years, and I have Medicare, why do I still have to pay Medicare payroll deductions if I continue working?
2
votes
0answers
245 views

How does Medicaid compare with private insurance on Healthcare.gov?

How Obamacare works is that if your income is sufficiently low, then you can get Medicaid. And if your income is too high to be eligible for Medicaid, then you'll get a Premium Tax Credit (aka the ...
2
votes
2answers
71 views

USA Health Insurance for Senior

I am US Citizen. A valid greencard holder lives with me. She immigrated to USA. I work and cover my family, not her (my mother in law). She is sweet lady and senior citizen, in relatively good health....
-1
votes
1answer
531 views

If I had no income due to a net operating loss, will I be refunded the Social Security and Medicare taxes withheld?

I spoke to a CPA about my 2015 tax situation. I had a job in 2015, but I also had stock trading losses that exceeded the salary that I received from the job. The CPA said that I traded enough that ...
3
votes
1answer
96 views

what is the point of the part b late enrollment penalty?

Quoting https://www.medicare.gov/your-medicare-costs/part-b-costs/penalty/part-b-late-enrollment-penalty.html, In most cases, if you don't sign up for Part B when you're first eligible, you'll ...