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learn-medicare · 1 year

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When Did Medicare Part B Start?

On July 30, 1965, Lyndon B. Johnson signed Medicare into law, which grants America’s senior citizens the right to health insurance. Medicare is national health insurance for America’s senior citizens and others who qualify earlier due to receiving Social Security disability insurance. According to The Centers for Medicare and Medicaid Services, over 63 million people are enrolled in the Medicare program as of October 2021. Before you reach Medicare age, you will want to become familiar with Medicare Part B’s enrollment, costs, and coverage.

When to apply for Medicare Part B

There is a specific time you will need to enroll in Medicare Part B to ensure you avoid a late enrollment penalty. The time to enroll in Medicare is during your seven-month Initial Enrollment Period (IEP). The IEP is based on your specific birthday, so you and your spouse will have stepparent enrollment periods.

Your IEP begins three months before your 65th birthday month and ends three months after your birthday. For example, if your 65th birthday is on July 15, your IEP begins on April 1 and ends on October 31.

Whenever you apply for Medicare within the first three months of your IEP, your effective date will be the first of your birthday month. When you apply during your birthday month of the last three months of your IEP, your Medicare will begin on the first of the following month.

Now, you can delay Medicare if you or your spouse actively work for a large employer with 20 or more employees and their health insurance covers you. In this case, you can delay your enrollment until you retire or lose active employer coverage. If this is not your case, you must enroll in Medicare during your IEP, or you will be charged a life-long late enrollment penalty.

How much is Medicare Part B?

Whenever you are enrolled in Medicare Part B, you are responsible for the monthly Part B premium (unless you qualify for Medicaid). The standard Part B premium is $164.90 in 2023. You will pay this amount for as long as you are enrolled in Medicare. But, if you are in a high-income tax bracket, you will pay more monthly for Medicare Part B.

The Social Security office looks at your modified adjusted gross income on your tax returns from two years ago when determining your Part B premiums. For example, in 2023, the S.S. office will look at your 2021 tax returns.

If you filed single and made more than $97,000 or filed jointly and made more than $194,000, you will pay an Income Related Monthly Adjustment Amount (IRMAA) on top of your monthly premiums. You will continue to pay an IRMAA fee for as long as you remain in a high-income tax bracket. But, if you no longer make the same income you did two years ago due to a life-changing event, such as retirement or divorce, you can file an IRMAA appeal.

What Medicare Part B covers

Medicare covers services deemed medically necessary to treat or diagnose an illness, disease, or injury. Medicare Part B covers outpatient services you receive at a doctor’s office or outpatient facility. Here are a few services that fall under Medicare Part B:

Emergency room visits

Doctor’s visits

Ambulance rides

Durable Medical Equipment

Certain vaccinations

Preventative services (i.e., mammograms, colonoscopies)

And more

There are many services that Medicare Part B will cover in full at 100%. But, for other services, you must meet the Part B deducible of $226 in 2023. After you pay the Part B deductible, Part B will cover 80% of your outpatient costs, leaving you responsible for a 20% coinsurance.

Final point

It’s essential to become familiar with Medicare before reaching eligibility, so you can know the enrollment periods, costs, and coverage. Visit medicare.gov for more Medicare Part B information.

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hbclife · 2 years

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New retirees may face surcharges for Medicare premiums. Here's how to appeal paying extra if your income has dropped

New retirees may face surcharges for Medicare premiums. Here’s how to appeal paying extra if your income has dropped

Ronnie Kaufman | DigitalVision | Getty Images How much Medicare surcharges could cost you For 2022, IRMAAs kick in for individuals with modified adjusted gross income of more than $91,000. For married couples filing joint tax returns, the surcharges start above $182,000. The extra charges increase at higher income thresholds. (See charts below.) The surcharge for Part B ranges this year from…

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medicarevideos · 4 years

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Medicare Explained in 2020 (Medicare Parts B and A plus Medicare Advantage and Medicare Supplements)

For FREE help finding a Medicare plan, Click here or call 1-800-729-9590.

(888) 465-9728. [email protected]. Free, unbiased Medicare assistance. Let us help you first the best Medicare plan for your needs.

Top Medicare Supplement Plans for 2020: Part B Premium too high? Appeal Part B IRMAA:

Medicare Explained in 2020 (Medicare Parts B and A plus Medicare Advantage and Medicare Supplements)

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omcik-blog · 7 years

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New Post has been published on OmCik

New Post has been published on http://omcik.com/medicare-rights-center-guide-details-steps-for-irmaa-appeals/

Medicare Rights Center Guide Details Steps for IRMAA Appeals

Advisors now have a guide to help them, as well as their clients, understand the Income-Related Monthly Adjustment Amount (IRMAA) and how to appeal a Social Security Administration IRMAA rate decision.

The Medicare Rights Center said that it recently released a free downloadable guide, How to Appeal a Higher Part B or Part D Premium, that provides information on IRMAA, which is the additional amount that folks with Medicare must pay for Medicare Part B premiums and/or Part D premiums when their annual incomes are above a certain amount.

In 2017, individuals and couples are required to pay an additional Medicare Part B and/or D premium when their annual incomes are above $85,001 and $170,001, respectively. The rate these individuals pay is based on four annual income levels.

The guide is designed to “help professionals ensure their clients are paying the correct amount for their Part B and Part D premiums,” Casey Schwarz, senior counsel of Education & Federal Policy at the Medicare Rights Center, told ThinkAdvisor in an email message. “We hear regularly from people who want to help their clients understand and sometimes appeal their IRMAA amounts.”

Clients often request a new IRMAA determination “because they’ve had a life-changing event,” Schwarz explained, and the SSA “uses information submitted in that request to establish the correct IRMAA amount.”

The nonprofit Medicare Rights Center’s free guide delves into answering such questions as the definition of IRMAA; how IRMAA is determined; how to request a “new initial determination” for IRMAA; situations that qualify to be life-changing events by the Social Security Administration; and how to appeal an IRMAA decision.

— Check out How to Get Medicaid for Nursing Home Care Without Going Broke on ThinkAdvisor.

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medicarevideos · 5 years

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Medicare IRMAA 2019 – Part B and Part D Premiums

For FREE help finding a Medicare plan, Click here or call 1-800-729-9590.

What is IRMAA? I will explain how Part B and Part D premiums can be higher based on income. Find out how to download the guide and appeal form.

We just talked about how Part A is covered but what about Part B or Part D? IRMAA is not like taxes, but it is another added fee that you pay for IRMAA part D or IRMAA part B if your monthly income is above a certain level. This fund will go directly to the Medicare, not an insurance company which funds your medical plans. If you are someone who has high annual earnings, IRMAA or Income Related Monthly Adjustment Amount is an added amount that you pay for the monthly Medicare Part-B as well as Medicare Part-D premiums. IRMAA is based on the modified adjusted gross income (MAGI). The gross income of a person is based on his/her wage along with the tips, profits from investments and business, unemployment benefits and also the alimony. This is adjusted based on the IRS-approved deduction such as expenses ranging from the IRA contribution to the student loan interests. Then, the total value is modified by the addition of the tax-exempt interest monthly or daily income a person makes. Then, the government uses modified adjusted gross income for determining how much they pay for the taxes and if they are eligible for tax credit, Medicaid or any other federal government sponsored subsidy. For Medicare, modified adjusted gross income is used for determining whether you will pay IRMAA. The single individuals filing 85,000 dollars or less on their tax returns or the married couple jointly filing 170,000 dollars or less will not have to pay for IRMAA. For the year 2018, IRMAA part B are 53.30 dollars, 133.90 dollars, 214.30 dollars and 294.60 dollars monthly as you go towards higher income bracket. For the IRMAA part D, the amounts are 13.30 dollars, 34.20 dollars, 55.20 dollars and 76.20 dollars every month. For the eligible individuals the income bracket is 85,001 dollars to 107,000 dollars, and for the married couples, it is 170,001 dollars to 214,000 dollars. How will I pay for IRMAA? This is not exactly a part of your premium plan; you do not pay the money for IRMAA part D or part B to your plan provider. Instead, it is paid to the centers for Medicare services itself. If the amount for Income-Related Monthly Adjustment Amount is not automatically deducted from your Social Security check, then you will get a bill from either RRB-Railroad Retirement Board or Medicare, if you are enjoying benefits rather than the Social Security. There are many ways to pay your Income-Related Monthly Adjustment Amount: 1. You pay through your bank account or by accessing the online bill payment service of your bank. However, you need to know that every bank has the facility to pay for this service. So, if you want to pay through your bank account, know which banks can help you with this payment. 2. You can register for using Medicare Easy Pay. This will deduct the amount of money every month from your bank account. This deduction takes place within the 20th of the month. 3. You can also send a money order or paycheck. Just enclose the payment and mail it to the Medicare Premium Collection Center. You can find the details on the website of Medicare. 4. You can also pay by your debit or credit card. There must be a payment coupon on the Medicare bill where you can give your payment information details. But if you receive a bill from RRB, then you will not be able to pay thru any of the ways as mentioned above. Rather, the payment must be mailed to the RRB, Medicare Premium Payments. In case, if you fail to pay, you will receive two notices before the delinquent notice. Every notice will show up on 25th of the moth. Suppose, the billing notice is 25th of the current month then the due date will be 25th of the next month. Your total coverage will be canceled if you fail to pay even after the delinquent notice. What if my income has gone down? If your income has gone down for any of the reasons mentioned-below then, all you need to do contact and explain to them that you have new information and need a new decision about IRMAA amount. • You got married, divorced or become a widow • You or/and your spouse have stopped working or decreased the work hour • You or/and your spouse lost business, work or income-producing property because of an event beyond your control • You or/and your spouse went through termination, a scheduled cessation or canceled pension plan • You or/and your spouse received the settlement from the employer company because the company experienced reorganization, bankruptcy or closure If you are going through any of the given situations, then meet the SSA with the right documentation that verifies the event and your current income. The documentation can be a letter from your employer company, retirement letter, a death certificate or something related.

Medicare IRMAA 2019 – Part B and Part D Premiums

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medicarevideos · 5 years

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🔴 IRMAA PreDetermination Notice from Social Security 🔴

For FREE help finding a Medicare plan, Click here or call 1-800-729-9590.

1-800-729-9590 We help with Medicare Insurance, and our service is free to seniors.

See Below for Helpful Notes

This video is about the IRMAA Determination Notice received by the Social Security Administration and how you could request a redetermination or appeal.

For helpful information, visit:

If you would like our help, it costs nothing more to get our help, give us a call. We can even provide a second opinion on what you already have. 1-800-729-9590.

Thanks for watching! Please consider subscribing for updates regarding Medicare changes!

Christopher Westfall, Sr. Senior Savings Network

1-800-729-9590 IRMAA Determination Notices The Social Security Administration (SSA) makes initial determinations whether the income-related monthly adjustment amount (IRMAA) applies to Medicare beneficiaries with Part B, or Medicare prescription drug coverage (or both if enrolled in both at the time a determination is made) using IRS data. Beneficiaries receive a notice with information about SSA’s determination and appeal rights when we make an initial IRMAA determination for either Medicare Part B or Medicare prescription drug coverage. If a beneficiary has Medicare Part B or Medicare prescription drug coverage only and enrolls in the other program later in the same premium year, the IRMAA determination will automatically be applied to the subsequent enrollment. A Title II Redesign (T2R) notice, which is not an IRMAA specific notice, is sent with the new IRMAA information and appeal rights. These notices will be stored on the Online Retrieval System.

the beneficiary will receive a specific targeted cost-of-living adjustment (COLA) notice which explains IRMAA in detail. The targeted IRMAA COLA notice is an initial determination with appeal rights. The notice explains:

• What information was used to compute IRMAA,

• What the beneficiary can do if the tax information IRS provides is wrong,

• What the beneficiary can do if SSA used information from a tax year that is three years prior to the premium year (PY-3) and the beneficiary has a copy of his filed tax return for the tax year that is two years prior to the premium year (PY-2),

• What the beneficiary can do if the tax filing status of “Married, Filing Separately” for the tax year was used and lived apart from the spouse for the entire year,

• What the beneficiary can do if there was a life changing event (LCE) with a reduction in income, and

• That variable SMI (VSMI) will not apply to Medicare Part B beneficiaries who have to pay IRMAA.

Pre-Determination Notice New Medicare filers and attainers will be charged the standard Part B premium or the prescription drug plan premium without an IRMAA until we receive MAGI data from IRS. If IRS returns data indicating that a new filer’s or attainer’s MAGI is above the appropriate threshold, SSA will send a pre-determination notice. This notice will explain:

• That IRMAA will apply,

• What information was used to compute IRMAA,

• What the beneficiary can do if the tax information provided by IRS is wrong,

• What the beneficiary can do if SSA used PY-3 information and the beneficiary has a copy of his filed PY-2 tax return,

• What the beneficiary can do if the tax filing status of “Married, Filing Separately” for the tax year was used and lived apart from his spouse for the entire year, and

• What the beneficiary can do if there was an LCE with a reduction in income.

This notice does not contain appeal rights but will invite beneficiaries to contact SSA within 10 days if the beneficiary believes the information is incorrect before SSA applies IRMAA (e.g., SSA used PY-3 data and the beneficiary has a copy of the Federal income tax return filed for PY-2). After 20 days (5 days mailing time, 10 days for the beneficiary to contact SSA and 5 more days of mailing time),

#IRMAA #PartBPremium #PartDPremium #Medicare

https://www.youtube.com/watch?v=nGtLhRcld3s

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medicarevideos · 5 years

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Medicare Part B Premiums | How To Pay Your Medicare Bill

For FREE help finding a Medicare plan, Click here or call 1-800-729-9590.

| (888) 465-9728 Call anytime for free, unbiased Medicare help.

Make Medicare payments through your mymedicare.gov account:

Medicare Part B IRMAA (Income Related Monthly Adjusted Amount) Appeal due to life change form:

Medicare Easy Pay form:

Mail form or Part B payment to: Medicare Premium Collection Center PO Box 979098 St. Louis, MO 63197-9000

Online Bill Pay Info: payee – CMS Medicare Insurance payee address – Medicare Premium Collection Center PO Box 790355 St. Louis, MO 63179-0355

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medicarevideos · 5 years

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What is the Medicare Part B IRMAA (Income Related Monthly Adjustment Amount)?

For FREE help finding a Medicare plan, Click here or call 1-800-729-9590.

Suzanne McClain explains what the IRMAA (Income Related Monthly Adjustment Amount) is and how it affects your Medicare Part B premium. In this video, she shows where to go online to view the sliding scale that calculates the premium. You will also hear her explain how to appeal the IRMAA (Income Related Monthly Adjustment Amount), if you have had a life event that triggered it.

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