My Member Can't Afford his Part B Premium- While Working

[wehotex]

My member is still working, not receiving Social Security benefits. He and his wife cannot afford the quarterly Medicare Part B payments in a lump sum. Does SS let people these in installments?

 

[WCMason]

My member is still working, not receiving Social Security benefits. He and his wife cannot afford the quarterly Medicare Part B payments in a lump sum. Does SS let people these in installments?

Yes. Medicare EZ Pay. They should have instructions on or with the invoice. I also have clients who make two copies of the quarterly invoice and mail in one-third each month.

I also have a client who missed his quarterly payment and got his Part B canceled. He's appealing but doesn't meet the criteria for good cause reinstatement. He'll likely be locked out of Part B until 7/1/15. MA plan canceled. Left only with Part A and an SEP to get Part D. So encourage them to find a way.

 

[wehotex]

These ppl are dead azz broke. She likes it when deducted from her hubby's paycheck because it's $30/wk. She would still save at least $15/mo if she cuts payment on credit card if she takes part B. I'll ask her for more detail.

 

[WCMason]

These ppl are dead azz broke. She likes it when deducted from her hubby's paycheck because it's $30/wk. She would still save at least $15/mo if she cuts payment on credit card if she takes part B. I'll ask her for more detail.

If the payroll deduction for their EGHP was only $30 per week, why did they drop it for Medicare? Dropped because less than 20 employees?

 

[yogooglethis]

These ppl are dead azz broke. She likes it when deducted from her hubby's paycheck because it's $30/wk. She would still save at least $15/mo if she cuts payment on credit card if she takes part B. I'll ask her for more detail.

Is the 30.00 weekly for both? Is so the EGHP would have have to have a high deductible and no or very weak drug coverage for me to recommend they go from paying 120.00 monthly for EGHP to 209.80 monthly for part B.Not to mention any cheap group life coverage they may lose and also losing the benefit of paying before tax income to pay EGHP premium.

 

[wehotex]

If the payroll deduction for their EGHP was only $30 per week, why did they drop it for Medicare? Dropped because less than 20 employees?

EGHP IS for him ONLY, which he dropped for the MA. IT has higher copays and deductibles. He's retiring in either Jan or Feb, maybe sooner.

 

[somarco]

Why not collect SS? That should kick in enough to cover B

 

[bluediamond]

That's what I was thinking somarco. If they really need the money draw social and keep working.

 

[WCMason]

That's what I was thinking somarco. If they really need the money draw social and keep working.

Earnings limit could be a factor depending on their age, which isn't given. If they turned 65 this year, they have a $15,480 limit then they get part of their checks withheld. That limit jumps to $41,400 in January, and no limit the month they turn 66. The earnings limit is the only thing that makes sense as to why a "dead azz" broke couple would postpone taking SS benefits. And even then the withheld money is completely paid back to them over time beginning at full retirement age.

 

[somarco]

Earnings limit could be a factor

Not the first year. You get a "grace period" on the earnings test the first year you begin SS.