Birthday Wishes

[dusty]

Man, you guys are depressing me. They have 30 years to figure this crap out before I run into it, but I'm not too hopeful...

Consider your self fortunate. You have time, before you are forced to quit work, to set aside funds to cover expenses in your golden years. Start saving NOW.

I think I might have been told that a time or two.

[dickg1]

Man, you guys are depressing me. They have 30 years to figure this crap out before I run into it, but I'm not too hopeful...

Consider your self fortunate. You have time, before you are forced to quit work, to set aside funds to cover expenses in your golden years. Start saving NOW.

I think I might have been told that a time or two.

They are referred to as "The Golden Years" because it is then that they start taking all of your gold.

Dickg1

[reible]

Man, you guys are depressing me. They have 30 years to figure this crap out before I run into it, but I'm not too hopeful...

Did we tell you that if there is any money left in SS bank when you retire that there is a good likely hood that you will have to pay taxes on at least a portion of your SS benefits? Just make sure you get all those tools you want while you are working, money gets harder to find after retirement and being on a fix income.

Ed

[charlese]

I retired in 1994. Yes! I pay taxes on part to most of my Social Security income. Man! It's hard! That's part of the reason why I hold off paying the owed amount until the last minute.

For your info: https://www.ssa.gov/planners/taxes.html

[BuckeyeDennis]

Man, you guys are depressing me. They have 30 years to figure this crap out before I run into it, but I'm not too hopeful...

Only eight years for me ...

But in fairness, when I was doing the bookkeeping for my elderly mother (for pretty much all of the "lost decade"), Medicare bookkeeping was actually quite a bit simpler than my own insurance.

The flip side is that I have records to prove that they spent over a thousand dollars to "rent" her a $300 wheelchair for a year. And toward the end of that year, when she finally needed the footrests that had been removed, they were MIA. No problem, I was told, we can just get her a whole new one. As a taxpayer, I was seriously PO'd.

[rjent]

May I suggest that you call Medicare (1-800-medicare) and ask for the phone number of the SHIP ( State Health Insurance Assistance Program ) office in your state. That office in your state will be able to give you a contact number of a Medicare qualified counselor who would be in a position to provide information on Medigap and Medicare Advantage programs as well as Medicare Prescription Programs in your state. BTW, the service is free.

I would guess that you had a PPO through your employment and indeed the premium may have been reasonable. Many PPO plans have deductibles and co-payments, which if they were in your package, should be considered as a portion of your total medical costs.

There are a number of Medigap (supplement) plans available, all of which have been set by Medicare. So it matters not what company offers the plan you may be interested in since they are the same. The criteria for the selection of a plan is based upon which plan meets your needs and which company offers that plan at the lowest premium.

Since you are just turning 65 and are "new" to Medicare you have a unique and one time opportunity to enroll in a Medcare Advantage (MA) plan for up to 12 months on a TRIAL basis. That MA plan may either be a PPO or an HMO. The advantage you have is that you can cancel the MA plan and return to original Medicare anytime within the 12 month period merely by enrolling in a Prescription Drug Plan - you don't even have to call the company! BTW, no insurance salesman will advise you of this trial basis option.

Unfortunately, whether you enroll in a Medigap or a MA you must continue to pay the premium for Medicare Part B. If your wife was included in your plan unfortunately there are no family Medigap or MA plans. If she is not yet on Medicare either a private or Affordable Care Plan would be necessary.

Best wishes,
Dick

BTW, I am the Medicare Coordinator for my resident county in New Jersey and am in no position to advise on MA plans in your state. I do believe that my comments above are general enough to provide some assistance. If you have some questions re: Medigap plans I am able to provide specific information or answer questions since they are standardized, except in four states, one of which is Massachusetts (I don't remember the others).

OK Dick,

I wanted to find out what was up and report back here. It turns out that it is my wife's fault .....

When she enrolled me in the Medicare supplement plan she took me from a bronze plan regular insurance to a Platinum Medicare supplemental plan (these women are sneaky LOL) probably because of my issues of a year ago.

So to be honest, I have no deductibles, no co-pays, piratically nothing out of pocket, so I guess, I will draw my horns back in and just accept that .... well .... I was wrong to be bitching. <- That won't happen very often ...

So all is good, I am a little poorer, but there is more "fluff" in my nest .....

[keakap]

go out to forum member rjent. Happy Birthday May there be many many more.

As a "March 10-er" myself, I second the motion!

[keakap]

Medicare will cost me more annually. How is that possible?

That's because it's FREE.

[keakap]

Well, first blush, Medicare sucks.

My wife and I had great coverage, really great, wasn't cheap, but great coverage....... Medicare will cost me more annually. How is that possible?

Can't tell you about the presents ....

I don't understand. How does Medicare cost you more.

Well, you buy insurance through your working career and that costs you x dollars a month. Then along come the Government, in all their benevolence, and tells you that you have to go on Medicare at 65. OK, cool, doctor fees and procedures are lower, should work out. BUT, when I add the money deducted from my SS FOR Medicare AND pay for the supplemental insurance for procedures and fees that Medicare DOESN'T PAY FOR I have more out of pocket cost than I did before I turned 65. Really pisses me off.

Who'd you vote for?

[keakap]

Man, you guys are depressing me. They have 30 years to figure this crap out before I run into it, but I'm not too hopeful...

Consider your self fortunate. You have time, before you are forced to quit work, to set aside funds to cover expenses in your golden years. Start saving NOW.

Dusty's advice is the best I've seen.
Save as if there will be NO "free" gummint medical programs when you retire. Period.