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mandatory medicare
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<blockquote data-quote="farmerjan" data-source="post: 1616355" data-attributes="member: 25884"><p>If your full retirement age is 66 then you can make up to something like 46,200 or so and not lose any of the SS. Again, they change the rules around, but as of this past year that was the rule. If you earn over the max allowed they "take back" something like $1 for every 2 you get?? Don't know the exact amount, you would have to talk to the SS person. </p><p>As far as I was told, you can start medicare at 65, working or not. If you have coverage at work, then you can either decide if one is better or not, or have both and they will "co-pay" from what I was told. In my case, if I had been still considered full time, I still had the option to go on Medicare and drop work ins or do some sort of both. Since I was not going to have that option, I really didn't pay alot of attention to those possibilities; I knew that by the first of that following year I would be below the minimum number of work units/hours to be considered full time, and would be losing my work ins. </p><p></p><p>My advice to you Kenny, make an appt at the SS office. Takes a few weeks to get one around here. Tell them you want to explore your SS benefits and options, that you are working at present. If you get a good person to talk to, they will lay it all out in front of you. If you have a good ins person at work, talk to them. I went to 3 different seminars done for free by the county here, all that "What seniors should know" crap, and was more confused than ever. So I called and talked to our ins lady from work and she sent me some stuff e-mail, and then said to call her back and she would go over it with me. She is GREAT and I figure if what she has for her husband and soon for herself.... is good enough for them, it is good enough for me.</p><p>There are so many plans that are set by the Medicare as far as what they have to cover. There's the 4 "parts" . Then the plans that are covered through supplemental ins. Plan F has to have this, Plan G has to have that.... Then there are a dozen different ins companies that "offer" their own supplement, that meets these basic requirements... and they are all priced differently. Mine is through Anthem BC BS. The cost went from 83 to 88 this year; Aetna offers the same plan G but the cost is different.AARP has a supplemental ins that will cover the different "plans". It also has some bearing on where you live as to the comparable costs of insurance. It is way over my head. That is why I talked to someone who has nothing to really gain by it like my ins lady. She is making her salary from working for the ins company she works for, giving advice to our milk testing company. Every year we have an annual meeting and she comes and does an update on any new changes in the ins, deductible, whatever. Since many of us are getting long in the tooth, she talks about Medicare and rules etc. Somewhere along the line, you need to talk to someone that understands all the ins and outs. </p><p></p><p>So as far as I know, yes you can go on Medicare at 65, if you have work ins there are some requirements/restrictions/ co-ins. rules. Yes you can collect SS and if it is the year you are eligible for full retirement, you can earn somewhere in the 46,000 range with no loss to the SS you get. If you make "cash" money or do barter or anything, you only "have to" claim what you feel you must.... If it can't be proven that you made too much, then you can't be penalized.</p></blockquote><p></p>
[QUOTE="farmerjan, post: 1616355, member: 25884"] If your full retirement age is 66 then you can make up to something like 46,200 or so and not lose any of the SS. Again, they change the rules around, but as of this past year that was the rule. If you earn over the max allowed they "take back" something like $1 for every 2 you get?? Don't know the exact amount, you would have to talk to the SS person. As far as I was told, you can start medicare at 65, working or not. If you have coverage at work, then you can either decide if one is better or not, or have both and they will "co-pay" from what I was told. In my case, if I had been still considered full time, I still had the option to go on Medicare and drop work ins or do some sort of both. Since I was not going to have that option, I really didn't pay alot of attention to those possibilities; I knew that by the first of that following year I would be below the minimum number of work units/hours to be considered full time, and would be losing my work ins. My advice to you Kenny, make an appt at the SS office. Takes a few weeks to get one around here. Tell them you want to explore your SS benefits and options, that you are working at present. If you get a good person to talk to, they will lay it all out in front of you. If you have a good ins person at work, talk to them. I went to 3 different seminars done for free by the county here, all that "What seniors should know" crap, and was more confused than ever. So I called and talked to our ins lady from work and she sent me some stuff e-mail, and then said to call her back and she would go over it with me. She is GREAT and I figure if what she has for her husband and soon for herself.... is good enough for them, it is good enough for me. There are so many plans that are set by the Medicare as far as what they have to cover. There's the 4 "parts" . Then the plans that are covered through supplemental ins. Plan F has to have this, Plan G has to have that.... Then there are a dozen different ins companies that "offer" their own supplement, that meets these basic requirements... and they are all priced differently. Mine is through Anthem BC BS. The cost went from 83 to 88 this year; Aetna offers the same plan G but the cost is different.AARP has a supplemental ins that will cover the different "plans". It also has some bearing on where you live as to the comparable costs of insurance. It is way over my head. That is why I talked to someone who has nothing to really gain by it like my ins lady. She is making her salary from working for the ins company she works for, giving advice to our milk testing company. Every year we have an annual meeting and she comes and does an update on any new changes in the ins, deductible, whatever. Since many of us are getting long in the tooth, she talks about Medicare and rules etc. Somewhere along the line, you need to talk to someone that understands all the ins and outs. So as far as I know, yes you can go on Medicare at 65, if you have work ins there are some requirements/restrictions/ co-ins. rules. Yes you can collect SS and if it is the year you are eligible for full retirement, you can earn somewhere in the 46,000 range with no loss to the SS you get. If you make "cash" money or do barter or anything, you only "have to" claim what you feel you must.... If it can't be proven that you made too much, then you can't be penalized. [/QUOTE]
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