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Conversationalist

Re: Social Security Cost of Living

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Message 21 of 68

While I was care giver for my mother, she had about 15 differant perscriptions every day to take. It seemed like she just kept getting worse, the more drugs they gave her, side effects were killing her.......I don't take any drugs except an aspern ,once in a while and very little cold medicen , when needed, over the counter stuff, I got this suplement for Medicare, because there is no way I could pay for what Medicare does not pay for, out of my SS check......I couldn't afford the part D premium back then and I sure can't afford a jacked up premium now.........I bought this house about 17 years ago, so I would have a home to live in for the rest of my life, sense I bought it, I have spent every night right here........I will not go to the hostpital , over night........but everybody has to have some kind of health insurance these days............................well I have bothered you enough on this subject, sorry I rattled on to much, must be the holidays and I have,t had anybody to talk to for a couple weeks now..............this is my last post...thank you........

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Valued Social Butterfly

Re: Social Security Cost of Living

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Message 22 of 68

bruceb158421 wrote:

If you worked in your life time you payed Medicare premiums, from every pay check you ever got, long before you were ready to sign up for Medicare, that 75% you say is being payed by tax payers, I payed that in, a long time ago, at least for the last 51 years.........and am still paying premiums today.....


The Medicare payroll taxes which you paid while you were working ONLY paid for Medicare Part A - called HI or hospital / inpatient care - if you worked long enough and paid your payroll taxes, matched by your employer, then you get Medicare Part A premium free.

 

Some citizens can buy into Part A at a cost of $ 422 PER MONTH if they don't have access as a worker or spouse of a worker.

 

Medicare Part B or Doctor/ outpatient coverage ( SMI ) is the part of Medicare where you pay monthly premiums now.  That's the coverage where the monthly premium paid by beneficiaries represents 25% of the total cost of the MEDICARE PART B premium and the taxpayers are picking up the rest (75%)

Be thankful, the premium split use to be 50/50 when it was 1st started.

 

Then there is Part D or the prescription drug coverage and it works similar to Part B.  

 

Insurance is ALL about sharing the risk and the cost - there really is NO " I " in insurance - there is only "WE".

 

The last figures which I remember is that Medicare pay about $7000 per beneficiary in cost per year and there are about 60 million beneficiaries and still growing to the tune of 10,000 PER DAY and into the future (baby boomers)  That does not mean that everybody in Medicare uses that much.  Like you said, you use zero, I also use very little but somebody else might use several hundred thousand.  All those joint replacements, sex change operations, heart stents, stroke rehab, cataract removal and lense replacements, heart attacks, cancer treatments, AMD treatment . . . . And on and on and on- 

ALL have to get paid for by "WE"

 

How in the world did you think this worked?

If we had just set up an account for everybody, where their paid in amount would go, with everything you have paid in into all the various parts, you might have enough to mend a broken arm, if it wasn't a compound fracture, at today's cost.

 

Have you ever read the annual book sent to you by Medicare called

"Medicare and You"?

 

I like to know about things especially where my money goes and how it is spent - Don't You?

 

 

 

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Valued Social Butterfly

Re: Social Security Cost of Living

585 Views
Message 23 of 68

easyed598 wrote:

My wife just got her new raise in SS. She is now paying $128/month  in medicare  premium and in effect got no raise in take home money as she is still not paying the max.


In essence, she is still getting a deal.

($ 134 - $ 128 = ) A plus for her of $ 6.00 a month or $ 72  year  ! !  

 

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Valued Social Butterfly

Re: Social Security Cost of Living

589 Views
Message 24 of 68

bruceb158421 wrote:

I am doing my part, for keeping Medicare costs down , I have never used mine for anything while still paying $7,000 in Medicare premiums and $11,500 in suplement premiums for a total of $18,500 in the last 5 years....do you know how much $18,500 could help me right now, to live on.....?


I am sure that everybody here congratulates you for being healthy.  A Hope for further good health.

 

However, it seems that you are planning for the worse because you are paying for a Medigap plan (Medicare Supplemental ).  You do know that Medicare Supplemental insurance is ONLY gap insurance because it only covers the 20% of the Medicare approved amount which Medicare does not pay, some cover the A &B deductibles and some coverage for rehab depending upon the plan.

 

Medicare does NOT require you to have supplemental coverage, it is a personal decision that you made so that isn't even part of the Medicare discussion here.

 

Many beneficiaries don't have a supplemental plan, many are dual eligible (Medicare/Medciad) and don't need it, many choose to have a Medicare Advantage plan where they have a small monthly premium to the insurer as a way to get their  Medicare benefits, pay their Part B premiums as required just like you  and they know their yearly out of pocket even in the worse case scenario - Original Medicare has no limit on annual or lifetime out of pocket.

 

I believe you said that you don't have a Medicare Prescription Drug plan - I Find that odd.  What happens if you need some type of medication, perhaps expenses medication.  Since you haven't picked a prescription drug plan under Medicare, if you ever decide to get one, you will be assessed a late penalty sign up - an amount on top of your premium for the drug plan that goes on forever.

 

Everybody should remember that insurance - public, private or some combination - is a SHARED COST - you aren't just paying for yourself but others too and they are doing the same for you.

 

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Valued Social Butterfly

Re: Social Security Cost of Living

590 Views
Message 25 of 68

bettyjh803151 wrote:

in the new bulletin we received today you said that there was a law that prevents medicare premiums from cutting into Social Security Benefits.  What is that law and how do we go from here?  They raised my premiums from $109 to $124


Actually, bettyjh803151, this part of the Social Security law is to your benefit because the actual Part B premium has been $ 134 per month since January 2017 and 2016 was, I am pretty sure $ 129 per month so the "hold harmless" part of the SS law has been helping you for going on 3-years counting 2018 since you are not up to the standard rate of $134 per month for Part B premiums.

 

In another thread on this board, I Describe how the hold harmless clause in The Social Security law works,gave some examples and a formula for people to use to see where they stand.  It has been this way for a long time and unless a change is made in the law, it will continue.

 

You can find it under the thread entitled "Social Security and Medicare for 2018" on the Medicare and Insurane board.Here is a link to the thread for ease in accessing it - I tagged it with "SS Hold Harmless Claus"

http://community.aarp.org/t5/Medicare-Insurance/Social-Security-and-Medicare-for-2018/td-p/1945001 

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Conversationalist

Re: Social Security Cost of Living

608 Views
Message 26 of 68

If you worked in your life time you payed Medicare premiums, from every pay check you ever got, long before you were ready to sign up for Medicare, that 75% you say is being payed by tax payers, I payed that in, a long time ago, at least for the last 51 years.........and am still paying premiums today.....

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Trusted Social Butterfly

Re: Social Security Cost of Living

524 Views
Message 27 of 68

My wife just got her new raise in SS. She is now paying $128/month  in medicare  premium and in effect got no raise in take home money as she is still not paying the max.

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Conversationalist

Re: Social Security Cost of Living

581 Views
Message 28 of 68

I am doing my part, for keeping Medicare costs down , I have never used mine for anything while still paying $7,000 in Medicare premiums and $11,500 in suplement premiums for a total of $18,500 in the last 5 years....do you know how much $18,500 could help me right now, to live on.....?

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Info Seeker

Re: Social Security Cost of Living

555 Views
Message 29 of 68

in the new bulletin we received today you said that there was a law that prevents medicare premiums from cutting into Social Security Benefits.  What is that law and how do we go from here?  They raised my premiums from $109 to $124

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Conversationalist

Re: Social Security Cost of Living

514 Views
Message 30 of 68

I thank you for your hepl......I delt with Medicade when I was caring for my mother...they wanted to control everything...they would not help me, but they did help her a little, after she died, they sent me letters saying I may qualify for this or that, but when I sent them all the info they wanted, they just said I did not qualify ...the reason ? I have a 31 year old motorcycle with 100,000 miles on it and a car with 162,000 miles on it, and I plan on keeping them, it is the only way I can get out once in a while to see other people, I still ride the motorcycle with the Patiot Guard Riders to Veteran,s funnerals and the car for shopping and getting around in the winter..less than 2.000 miles a year these days........I just got tired of asking for help and being turned down........so I just stopped asking.....When I signed up for Medicare, they sent me a letter, telling me I did not qualify for help on part D, and I couldn't afford anymore health insurance payments, so no part D.......I havent been to a doctor for myself for almost 20 years and I only take a very few over the counter medicens , I don't belive in running to the doctor, everytime I get the sniffels ..........Thank you again for the help !

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