Posted on 12/19/2022 11:17:49 AM PST by EVO X
I have to go on Medicare early next April. I have my credit reports frozen. Does anybody know which ones I need to un freeze in order to log on? Foot traffic to the local SS office is backed up late February. The local SS office had no clue which credit report I needed to unfreeze.
“There is Medicare Part A which is free.”
If you have 40 qualifying quarters of income.
Contact your HR rep. I'm 66 and still paying for employer sponsored healthcare insurance. As long as I have my private insurance, I don't have to sign up for medicare. I was advised by HR that the instant I do sign up for Medicare, I can not put another penny into my HSA. I fund my HSA heavily to ensure my wife has sufficient resources for her Type 1 diabetic supplies. Until she can sign up with Medicare, I'm staying with my company insurance. I'm signed up for 2023 and thus committed to work until Dec 2023 before I can retire. It's really my wife's health issues that have me deferring retirement. Absent that issue, I would have retired last year.
Jim, ...just to be accurate, as a Medicare Broker the news on 2023 is that Modified Adjusted Gross Income reported for 2021 for a couple UNDER $194,000 results in a Part B Premium monthly of $164.90, call it $165 each, down from $170.10 this year.
The more successful earners will pay more, up to MAGI for ‘21 of $246,000 will pay $230.80 for Part B AND $12.20 for Part D.
The top tier (after 3 more tiers) of AGI greater than $750,000 will have the privilege of paying $560.50 Plus $76.40 for Parts B & D EACH monthly! Single payers cut the brackets roughly in half. ...love the progressive tax rates on the successful! ....ymmv
I was forced onto Medicare when I turned 65 and hate it.
If you have good insurance, take care of any medical treatments you are considering. Stock up on any prescription meds as you can. Do your dental cleanings, etc. Get new glasses if you have a plan that provides that.
I HATE Medicare with a passion. I wish I had known some of that stuff before hand, especially the prescription costs for some of the meds I’m on. They are very expensive and Medicare Rx sucks for anything but generic, common meds.
... Texas Gator is correct, however post COVID, everything is moving at a molasses pace, so DO sign up for your Medicare Part A ONLY, 60-90 days before your 65th birthday month so that you have an assigned SS NUMBER, and you will be ready to retire and switch from Corp to Medicare health coverage when you want and will ask to turn on Parts B & D premium within 62 days of ending your Corp coverage. Have had TWO clients pay extra months private premiums because Medicare took over 9 weeks to return the client calls after starting online and getting assigned a “representative”.... just FYI
...ymmv
metmom, sorry you are seeing large costs for your drugs. Part D stand alone plans can get expensive as only so many drugs are on MediCare formularies and new name brand drugs that your Dr prescribes can cost 24-33% of retail costs IF covered, and MC only covers usually two prescriptions per covered condition. After $4660 is spent by you and your provider on monthly drugs, you hit the “donut hole” and usually then pay 25% of the cost until you spend $7400 total. Then your “catastrophic” level will see you pay the greater of 5% or $10 for name brands for the rest of the calendar year.
It can still be a bargain plan depending on how well subsidized any Corporate Health coverage you have had in your early 60s before you qualified for Medicare. Best of luck in 2023! ....ymmv
Good advice. I was planning to do it ASAP.
I learned about the donut hole.
That is a lot of money to put out before the *catastrophic* coverage begins.
At that rate, Medicare cost us far more than our monthly premiums with our old health plan through work insurance.
I have a freeze on my credit report due to someone drawing unemployment with my information (got a 1099-G)
I just signed up. No problems.
Thanks for insight
It is not necessary to “sign up” for Medicare. Approximately 3 months before your 65th birthday, you will receive your Medicare card in the mail. The Federal Government already has enough information on you, they know exactly when you will turn 65. If you are not receiving Social Security yet, you will then receive a bill in the mail you must pay (Medicare is not free). If you are collecting SS, your Medicare will be deducted from your SS. Please note also, your Social Security number will not appear on your Medicare card, they changed that a number of years ago due to fraud.
I signed up for Medicare online…no credit report needed.
We have a similar situation, as long as DH works, we just use his insurance, when he retires we move to Medicare.
Thanks for your reply. The local SS office doesn’t seem to have any idea what is going on. I am one of those people eligible for Medicare, but not currently eligible for SS.
Thanks for the reply. It looks like I'll have to cancel the freeze on my credit reports. I shouldn't have to cancel all three, but it is not clear which one SS/MC uses to authenticate a user account creation.
Thanks for your response. I called the local SS office and they were clueless and had a 2 month wait time for an office visit..
Sept. 2019
I guess that is progress. From a few hours to a few months for an in person visit. /s
Hmmm. Maybe the verification procedures changed and I just assumed a temporary credit thaw was necessary. If a thaw is necessary it is Equifax. I created an online SS account but have to wait 15-20 days to receive a snail mail letter to finish setting up the account.
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