Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [medicare]

43 questions
25
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5 answers

What is the cost of health care in the US?

I was surprised to read articles about the cost of health care in the US. So, I became interested in this topic. My question; What is the cost of health care in the US? That would depend on the availability of insurance, but I'd like to get a…
Blue Various
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12
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1 answer

How do I solve an accidental violation of Medicare's 6-Month look-back HSA contribution prohibition?

I'm 67 and worked past 65, not enrolling in SS, Medicare A or B. Therefore, I contributed to my corporate HSA through October 2020. I stopped contributing immediately when, upon my research, I heard about Medicare part A imposing a 6-month…
Hank
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8
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2 answers

Why do I have to pay Medicare payroll deductions while I am retired if I am still working?

If I am retired for the last 5 years, and I have Medicare, why do I still have to pay Medicare payroll deductions if I continue working?
Ubaldo Gutierrez
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8
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1 answer

Paying for nursing home care: What is the relationship between Medicare and owned property?

This question is prompted by a comment in a question I asked previously regarding the finances of aging parents (assets include a small savings and some property). I will summarize the comment as follows: If a high dependency care unit is a…
moscafj
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7
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1 answer

Can I defer starting Medicare if 65 and on COBRA after a lay-off? (HSA, COBRA, and Medicare)

I turned 65 in February, am still working full-time, and have medical insurance through my company that qualifies me to defer signing up for Medicare. I've been contributing the maximum to my HSA account for years. I was planning to retire on…
Liam
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7
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1 answer

HSA and Medicare: what if I get laid off?

I'm approaching 65; will continue working for a large company; will not be taking Social Security; have a high deductible insurance plan through my company which I will continue using (so will not sign-up for Medicare at this time); and am…
Liam
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5
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2 answers

In the USA, how are OASDI, Medicare, and Federal income taxes applied to wages?

Are they each applied to the full year's wages? Or are they applied in sequence, and if so, in what order? Let's say an American worker earns $100,000.00 in wages in 2020, and that is their only income for the year. How are three types of taxes…
jpm
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4
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What eventually happens when my Medicare premium is MORE than my Social Security benefit?

Most of my working life was not subject to Social Security taxes (yes, this can happen legitimately in the US), therefore my Social Security benefit is very modest. My Medicare premium is withheld from my SS benefits, and in 2020 my monthly SS…
ab2
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4
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1 answer

HSA and Medicare

I am 65 and was not planning to retire until 70. I am participating in high deductible healthcare at work and was contributing to a HSA until September 2020 when I was offered early retirement. The company cannot provide the date of my retirement…
Morrowm
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4
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1 answer

Social Security and other liabilities for foreign employers of US citizens working remotely

I have the following situation: I am a US citizen employed (or about to be employed, depending whom you ask) outside the US in a country that is currently under lockdown. I've asked permission to work remotely given the circumstances and am told…
jdc
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4
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1 answer

Double dipping Medicare payments

I am 78 years old. I collect Social Security, and am on Medicare, and also work part time paying SS and Medicare premiums. Since Medicare is being deducted from my SS every month, can I get refunded the Medicare premiums I am paying from my part…
Richard Honeberger
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3
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1 answer

what is the point of the part b late enrollment penalty?

Quoting https://www.medicare.gov/your-medicare-costs/part-b-costs/penalty/part-b-late-enrollment-penalty.html, In most cases, if you don't sign up for Part B when you're first eligible, you'll have to pay a late enrollment penalty for as long…
neubert
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1 answer

If I earn my 40th Social Security credit mid-year, is my Medicare Initial Enrolment Period when I earn the credit or when the credit is filed for?

I'm a doozy of an edge case. I'm above 65 and will become eligible for Medicare mid-year 2024, which is when I'll have earned my fortieth Social Security credit on Form 1040 Schedule C. (I won't have qualified before then because I won't yet have…
user106227
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3
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1 answer

Medicare and living in Mexico

If a US citizen moves to Mexico, can he/she live in a town near the border, maintain his/her coverage of Medicare and come to the US for medical care? He/she would want his medical care to be paid for by Medicare. Would this work?
Bob
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How does Medicaid compare with private insurance on Healthcare.gov?

How Obamacare works is that if your income is sufficiently low, then you can get Medicaid. And if your income is too high to be eligible for Medicaid, then you'll get a Premium Tax Credit (aka the Subsidy) which you can use to buy private health…
Keshav Srinivasan
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