Register for our FREE Educational Medicare Webinar here: www.medicarejoewebinar.com/t65webinar3-110 Speak with one of our licensed agents: 888-676-3633 or Schedule a 1-on-1 here: medicarejoe.org Links Mentioned in the video: Medicare Made Simple- Medicare Explained Webinar- ua-cam.com/video/McTiCuaiy40/v-deo.html Part D Shopper Link: medicarejoe.org/partd/ IRMAA Chart- www.cms.gov/newsroom/fact-she... Part B Appeals- www.hhs.gov/about/agencies/om...
Very informational. So, If a person age 65 was working and had insurance through his wife's company, there is in essence no need to sign up for Medicare A& B. And to avoid the higher IRMAA adjustments, the person could Quit their job, stay on their wives insurance policy, and then in two years apply for medicare; When Medicare does the two year look back, the income would be zero. and would reduce the amount of IRMAA adjustment based on the wife's salary Is this a fair statement?
In terms of income. Is income based on gross income, or adjusted for 401K contributions to lower taxable amount.. For example, your combine income (you & spouse) is 300K per year, and you put 15% towards 401K. Is your IRMAA based on 300K or 255K
Register for our FREE Educational Medicare Webinar here: www.medicarejoewebinar.com/t65webinar3-110
Speak with one of our licensed agents: 888-676-3633 or Schedule a 1-on-1 here: medicarejoe.org
Links Mentioned in the video:
Medicare Made Simple- Medicare Explained Webinar- ua-cam.com/video/McTiCuaiy40/v-deo.html
Part D Shopper Link: medicarejoe.org/partd/
IRMAA Chart- www.cms.gov/newsroom/fact-she...
Part B Appeals- www.hhs.gov/about/agencies/om...
Very informational. So, If a person age 65 was working and had insurance through his wife's company, there is in essence no need to sign up for Medicare A& B. And to avoid the higher IRMAA adjustments, the person could Quit their job, stay on their wives insurance policy, and then in two years apply for medicare; When Medicare does the two year look back, the income would be zero. and would reduce the amount of IRMAA adjustment based on the wife's salary Is this a fair statement?
Yes it is a fair statement. The Income Adjustment is reset every year based on the income from 2 years back.
If you need a person, you can trust and give you the best information and guidance for medicare assensce, Joe Pate is your person.
Thank you for the review!
In terms of income. Is income based on gross income, or adjusted for 401K contributions to lower taxable amount.. For example, your combine income (you & spouse) is 300K per year, and you put 15% towards 401K. Is your IRMAA based on 300K or 255K
They use the Adjusted Gross Income (AGI) to determine the Income Adjustment. This can include gains on sale of property, dividends, etc.