Questions tagged [medicare]
The medicare tag has no usage guidance.
42 questions
2
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1
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148
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Excess (or not) HSA Contribution Problems Due to Medicare Enrollment-6 Month Rule
I'm hoping someone can guide us to solve our HSA problem.
In April 2024 my wife filed an application for Social security benefits (she will be 70 this year), which she supposed to receive in July 2024....
- 21
0
votes
0
answers
192
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Medi-Cal eligibility for parent
If I claim my mother as a dependent will that affect her eligibility for Medi-Cal? She lives with me and I pay all of the expenses.
1
vote
2
answers
465
views
Unexpected contribution to HSA after joining Medicare
In November 2023 I applied for Medicare Part A (the same month I turned 65)
A few months prior to November 2023 I instructed my employer to stop the payroll deductions to my HSA account. Payroll ...
- 11
2
votes
2
answers
2k
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Do retirees need to pay social security and medicare after retirement?
Once you have retired, assuming you are only living off a government pension and 401k, 457 and IRA savings do you still have to pay social security taxes and medicare taxes?
I usually see these taxes ...
- 207
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0
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430
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How much does Medicare pay an insurance company to assume a Medicare Advantage policy's risk?
If you sign up for a Medicare Advantage plan, you continue to pay the Medicare Part B premium ($177.10 in 2022). Medicare then pays a fixed amount for your care each month to the companies offering ...
- 101
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0
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89
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Voluntarily stopping SSDI and still receive Medicare?
I'm helping a friend on SSDI navigate returning to work (as a freelancer) full time, while retaining some healthcare-she currently has Medicare because of SSDI (more specifically, Parts A and B and-...
- 101
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1
answer
388
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amending return from MFS to MFJ to reduce IRMAA Medicare surcharge
My wife and I filed separate returns in 2020 (MFS), because her situation was very complex (with some inheritance and such) and she wanted to have a CPA do it, and it was also one of these unusual ...
- 209
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0
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41
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Have a HDLC health insurance with a $4000 benefit going into a HSA. Just found out I am not eligible for the HSA. How to rectify
Did not know I was not eligible for HSA as I have had Medicare for several years. The $4000 dollars the company put into the account has been used as my wife had major surgery. There is a $3000 ...
- 1
1
vote
1
answer
554
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How significant is the tax penalty for HSA contributions for the 6 months prior to Medicare enrollment?
I qualify to enroll in Medicare in 2 months. I am learning about the 6 month look back period for HSA contributions. For the last 6 months, I and my employer together have contributed $1,200 to my HSA....
- 11
2
votes
2
answers
178
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Financial outcomes for a US adult over 65 without medicare
My father is in his 70's. He was a self-employed professional who never put away any money for retirement. He is now living on a rural property that he owns, but his only monetary assets would be his ...
- 21
1
vote
1
answer
149
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Will my surgery bill be covered by Medicaid if I just started a new job?
I had a knee surgery while i was on medicaid. The hospital hasn't billed me for the surgery yet. I will start a new job soon. Will Medicaid still pay for that surgery?
- 11
3
votes
1
answer
90
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If I earn my 40th Social Security credit mid-year, is my Medicare Initial Enrolment Period when I earn the credit or when the credit is filed for?
I'm a doozy of an edge case. I'm above 65 and will become eligible for Medicare mid-year 2024, which is when I'll have earned my fortieth Social Security credit on Form 1040 Schedule C. (I won't have ...
- 659
2
votes
0
answers
48
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Do we have to pay deductibles on medicare and medicaid separately?
My fiancé has been seeing a PTSD therapist for about five weeks, paying out of pocket for the sessions until her medicare deductible was met so she would be covered.
We just got a call from the ...
- 21
2
votes
1
answer
175
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F1- OPT - Resident Alien - Social Security and Medicare taxes in the USA
Please don't confuse it with answer here. Mine is not a duplicate question.
If I am on F1 (non-immigrant student) visa and doing my OPT (1st year not the STEM extension) or I am a full time student (...
- 395
4
votes
0
answers
359
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What eventually happens when my Medicare premium is MORE than my Social Security benefit?
Most of my working life was not subject to Social Security taxes (yes, this can happen legitimately in the US), therefore my Social Security benefit is very modest.
My Medicare premium is withheld ...
- 1,900
12
votes
1
answer
455
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How do I solve an accidental violation of Medicare's 6-Month look-back HSA contribution prohibition?
I'm 67 and worked past 65, not enrolling in SS, Medicare A or B. Therefore, I contributed to my corporate HSA through October 2020. I stopped contributing immediately when, upon my research, I heard ...
- 121
25
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5
answers
4k
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What is the cost of health care in the US? [closed]
I was surprised to read articles about the cost of health care in the US. So, I became interested in this topic.
My question;
What is the cost of health care in the US?
That would depend on the ...
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1
vote
2
answers
286
views
What kind of health insurance does the American public have and how do they benefit from it? [closed]
My question
What kind of health insurance does the American public have and how do they benefit from it?
I was surprised to read articles about the American health care system; this seems to be ...
- 373
4
votes
1
answer
127
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HSA and Medicare
I am 65 and was not planning to retire until 70. I am participating in high deductible healthcare at work and was contributing to a HSA until September 2020 when I was offered early retirement. The ...
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4
votes
1
answer
110
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Social Security and other liabilities for foreign employers of US citizens working remotely
I have the following situation: I am a US citizen employed (or about to be employed, depending whom you ask) outside the US in a country that is currently under lockdown. I've asked permission to work ...
- 141
2
votes
1
answer
59
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When Would My Medicare Part B Coverage Begin?
I am over 65 and currently have Medicare Part A coverage, and am under my husband's GHP. He is leaving his job on 9/11/2020, at which time I will no longer be insured. If I sign up for Medicare Part B ...
- 163
4
votes
2
answers
2k
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In the USA, do OASDI, Medicare, and Federal income taxes stack?
Or are they applied in sequence? (and if they are, what order are they applied in?)
As an example, if an American individual makes $100,000.00 in wages in 2020, and that is their only income, are ...
- 43
2
votes
1
answer
163
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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 ...
- 1,900
2
votes
1
answer
204
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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. ...
- 429
2
votes
1
answer
125
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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 ...
- 21
3
votes
1
answer
137
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 ...
- 2,022
7
votes
1
answer
312
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 ...
- 71
8
votes
1
answer
292
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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 ...
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1
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1
answer
702
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Are 401k withdrawals included in income for Medicare premiums?
How do I report 401k withdrawals to Medicare if the IRS does not report it?
- 11
2
votes
2
answers
149
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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 ...
- 21
7
votes
1
answer
788
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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 ...
- 73
4
votes
1
answer
175
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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
1
answer
84
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 ...
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2
votes
1
answer
132
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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 ...
- 163
2
votes
0
answers
660
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 ...
- 147
1
vote
1
answer
737
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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 ...
- 2,022
0
votes
1
answer
234
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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
2
answers
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?
- 105
2
votes
0
answers
298
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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
2
answers
83
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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
1
answer
761
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 ...
- 95
3
votes
1
answer
127
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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 ...
- 3,852