Medicare Premiums

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is your choice to get Medicare. It is optional.

The fact you are used to free medical insurance is highly unusual. And it sounds like you (personally) were not even working fur that very valuable perk.

Who was paying for you and your husband’s health care at that time? (Lower level employees in the company? Investors? Customers?)

Sorry, but you get zero sympathy here.

OP's expected come back... "We are rich, we don't need your sympathy."

OP here. Thanks...that was on target!!

Life wasted

[Anonymous]

For someone to pay $628.90/month in 2025 for Medicare premiums means they had MAGI between $410k and $750k two years ago. And that does not fully cover the cost of Medicare. What we should all actually be upset about is the cost of medical care in the US. Doesn't anyone else think it is insane that we pay so much more than other countries?

[Anonymous]

Anonymous wrote:For someone to pay $628.90/month in 2025 for Medicare premiums means they had MAGI between $410k and $750k two years ago. And that does not fully cover the cost of Medicare. What we should all actually be upset about is the cost of medical care in the US. Doesn't anyone else think it is insane that we pay so much more than other countries?

Because we have so much more dead weights, uneducated, and unproductive population.

[Anonymous]

Yea even though I’m 47, we’ve had a HDHP and have been maxing out or HSA for year. Will come in quite handy for A, B, and D premiums. Though it doesn’t cover G we have hoarded thousands and thousands in receipts we can just get reimbursement from.

If you are high income you are foolish to have not built up your HSA over the years. We are sitting on 250k in HSA funds alone. triple tax advantaged. we will at least have 500k in that account when we need medicare and that’s conservative.

[Anonymous]

uncle sam gets you coming and going. Not only go we pay higher premiums, but while we are working we get uncapped tax, we also get the surcharge. But whatever it’s a high tax country we live in with a lot of fat addicted unhealthy people. Thems the breaks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is your choice to get Medicare. It is optional.

The fact you are used to free medical insurance is highly unusual. And it sounds like you (personally) were not even working fur that very valuable perk.

Who was paying for you and your husband’s health care at that time? (Lower level employees in the company? Investors? Customers?)

Sorry, but you get zero sympathy here.

OP's expected come back... "We are rich, we don't need your sympathy."

OP here. Thanks...that was on target!!

Thank you for making the thread. I will educate myself because of this thread and will pay minimum hopefully.
I also only paid in $5k in 29 years.

[Anonymous]

Anonymous wrote:Yea even though I’m 47, we’ve had a HDHP and have been maxing out or HSA for year. Will come in quite handy for A, B, and D premiums. Though it doesn’t cover G we have hoarded thousands and thousands in receipts we can just get reimbursement from.

If you are high income you are foolish to have not built up your HSA over the years. We are sitting on 250k in HSA funds alone. triple tax advantaged. we will at least have 500k in that account when we need medicare and that’s conservative.

What kind of return do you get on that account? I think it depends on that vs. how the market performed. Sounds like OP will never spend that much on health anyway based on how they described the company provided supplemental insurance (full coverage).

[Anonymous]

Anonymous wrote:

Anonymous wrote:For someone to pay $628.90/month in 2025 for Medicare premiums means they had MAGI between $410k and $750k two years ago. And that does not fully cover the cost of Medicare. What we should all actually be upset about is the cost of medical care in the US. Doesn't anyone else think it is insane that we pay so much more than other countries?

Because we have so much more dead weights, uneducated, and unproductive population.

No it’s because private healthcare increases the cost. Have to pay those CEO’s instead of spending money on treatments and doctor salaries.

Other first world countries spending on healthcare as percentage of GDP.

Japan 10.6%
UK 10.6%
Germany 12.6%
France 12.1%
Norway 8.1%
Canada 12.4%

US 18.1%

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For someone to pay $628.90/month in 2025 for Medicare premiums means they had MAGI between $410k and $750k two years ago. And that does not fully cover the cost of Medicare. What we should all actually be upset about is the cost of medical care in the US. Doesn't anyone else think it is insane that we pay so much more than other countries?

Because we have so much more dead weights, uneducated, and unproductive population.

No it’s because private healthcare increases the cost. Have to pay those CEO’s instead of spending money on treatments and doctor salaries.

Other first world countries spending on healthcare as percentage of GDP.

Japan 10.6%
UK 10.6%
Germany 12.6%
France 12.1%
Norway 8.1%
Canada 12.4%

US 18.1%

Health Insurance CEO pay does not explain a meaningful share of US healthcare spending. The current United healthcare CEO has a base salary of 1 million dollars with stock compensation of up to 60 million that vests after 3 years. So total annual compensation is around 21 million per year. United healthcare has around 52 million people covered by their insurance, which means that the CEO pay only accounts for 40.4 cents of health insurance costs per person. The average healthcare spending in the US is $14,570 which means that the CEO compensation accounts for less than $1/$34,000 in healthcare spending United healthcare insurance participants.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Only about 7 percent of Medicare beneficiaries pay those higher premiums. So you are (at least) in the richest 7 percent. Enjoy your financially secure retirement!

https://www.medicareresources.org/medicare-eligibility-and-enrollment/what-is-the-income-related-monthly-adjusted-amount-irmaa/#:~:text=Most%20Medicare%20beneficiaries%20do%20not,Part%20D%20prescription%20drug%20coverage.

I think the IRMAA is ridiculous considering that higher income earners contribute a very disproportionate share of total revenue during their working years. They already paid more into Medicare when they were working then they are charged more for it once they retire. It is a punitive and poorly designed tax for high income earners, that creates a situation where the marginal tax rate can exceed 100% if you are slightly above an income threshold.

Yes, it is just another tax on the wealthy and very unfair. We already paid our fair share. Infuriating.

+1

Yup! We have paid so much into Medicare, to have to pay $600/person+ for part B is ridiculous

What you paid in to Medicare from your wages over the last 40 years is Medicare Part A Hospital Insurance. That's why Part A is free.

Medicare Part B isn't free and you will have to spend 25% to 100% of the full cost of the insurance, depending on your income.

Most retiree health insurance provided by employers require that you enroll in Medicare A and B to keep your retiree coverage. That means the retiree coverage turns in to supplemental health insurance and is the secondary payer after Medicare. The only exception I can think of is the Federal Employee Health Benefits program which doesn't require retirees to enroll in Medicare A or B to keep their health insurance coverage. This is because the FEHB Program became law in 1960, which was five years before Medicare was created.

Having paid well over $800K into medicare (and employer doing the same) in our lifetimes, it's still ridiculous that we have to pay $1500+ per month for the rest of Medicare. For crappy coverage. We need universal healthcare and costs to be reduced, as healthcare shouldn't be for profit at the levels it is in the USA. I shouldn't be charged $1750 for "bloodwork" that my insurance only pays $150 for. Everyone should be billed $150 for that. Same for all procedures.

[Anonymous]

Anonymous wrote:For someone to pay $628.90/month in 2025 for Medicare premiums means they had MAGI between $410k and $750k two years ago. And that does not fully cover the cost of Medicare. What we should all actually be upset about is the cost of medical care in the US. Doesn't anyone else think it is insane that we pay so much more than other countries?

I'm rich and yes that bothers me.

We desperately need UHC, with the options for private care for those who choose to spend their $ on it. But Procedure X should cost everyone (in an area with similar cost of living--we must adjust for that) $Y. Not Y+1500 that insurance might reduce to Y or to Y+400 or Y+200.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For someone to pay $628.90/month in 2025 for Medicare premiums means they had MAGI between $410k and $750k two years ago. And that does not fully cover the cost of Medicare. What we should all actually be upset about is the cost of medical care in the US. Doesn't anyone else think it is insane that we pay so much more than other countries?

Because we have so much more dead weights, uneducated, and unproductive population.

No it’s because private healthcare increases the cost. Have to pay those CEO’s instead of spending money on treatments and doctor salaries.

Other first world countries spending on healthcare as percentage of GDP.

Japan 10.6%
UK 10.6%
Germany 12.6%
France 12.1%
Norway 8.1%
Canada 12.4%

US 18.1%

Health Insurance CEO pay does not explain a meaningful share of US healthcare spending. The current United healthcare CEO has a base salary of 1 million dollars with stock compensation of up to 60 million that vests after 3 years. So total annual compensation is around 21 million per year. United healthcare has around 52 million people covered by their insurance, which means that the CEO pay only accounts for 40.4 cents of health insurance costs per person. The average healthcare spending in the US is $14,570 which means that the CEO compensation accounts for less than $1/$34,000 in healthcare spending United healthcare insurance participants.

It's not just the CEOs. It's the entire system - multiple companies with duplicate management structures competing against each other for profit. If the system was government run, we would have one "company" with a network of hospitals and clinics that provide services to everyone - one HR, one billing system, etc. Not this cartel with legislative moat that prevents the import of doctors, medicines, etc.

I know doctors like to come on here and cry about how much debt they have, but let's face it. US doctors are waaaay overpaid relative to their peers anywhere else in the world. All of that adds up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For someone to pay $628.90/month in 2025 for Medicare premiums means they had MAGI between $410k and $750k two years ago. And that does not fully cover the cost of Medicare. What we should all actually be upset about is the cost of medical care in the US. Doesn't anyone else think it is insane that we pay so much more than other countries?

I'm rich and yes that bothers me.

We desperately need UHC, with the options for private care for those who choose to spend their $ on it. But Procedure X should cost everyone (in an area with similar cost of living--we must adjust for that) $Y. Not Y+1500 that insurance might reduce to Y or to Y+400 or Y+200.

You can pay. Stop complaining.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Only about 7 percent of Medicare beneficiaries pay those higher premiums. So you are (at least) in the richest 7 percent. Enjoy your financially secure retirement!

https://www.medicareresources.org/medicare-eligibility-and-enrollment/what-is-the-income-related-monthly-adjusted-amount-irmaa/#:~:text=Most%20Medicare%20beneficiaries%20do%20not,Part%20D%20prescription%20drug%20coverage.

I think the IRMAA is ridiculous considering that higher income earners contribute a very disproportionate share of total revenue during their working years. They already paid more into Medicare when they were working then they are charged more for it once they retire. It is a punitive and poorly designed tax for high income earners, that creates a situation where the marginal tax rate can exceed 100% if you are slightly above an income threshold.

Yes, it is just another tax on the wealthy and very unfair. We already paid our fair share. Infuriating.

+1

Yup! We have paid so much into Medicare, to have to pay $600/person+ for part B is ridiculous

What you paid in to Medicare from your wages over the last 40 years is Medicare Part A Hospital Insurance. That's why Part A is free.

Medicare Part B isn't free and you will have to spend 25% to 100% of the full cost of the insurance, depending on your income.

Most retiree health insurance provided by employers require that you enroll in Medicare A and B to keep your retiree coverage. That means the retiree coverage turns in to supplemental health insurance and is the secondary payer after Medicare. The only exception I can think of is the Federal Employee Health Benefits program which doesn't require retirees to enroll in Medicare A or B to keep their health insurance coverage. This is because the FEHB Program became law in 1960, which was five years before Medicare was created.

Having paid well over $800K into medicare (and employer doing the same) in our lifetimes, it's still ridiculous that we have to pay $1500+ per month for the rest of Medicare. For crappy coverage. We need universal healthcare and costs to be reduced, as healthcare shouldn't be for profit at the levels it is in the USA. I shouldn't be charged $1750 for "bloodwork" that my insurance only pays $150 for. Everyone should be billed $150 for that. Same for all procedures.

Sorry, you have paid $800,000 into Medicare? Good lord, that means you've earned somewhere around $50 million in your lifetime. Assuming a 40 year working career, that's over a million dollars a year. I'm sorry, but this complaint is truly strange. You have had an utterly charmed life career-wise. Pay into Medicare what you can easily afford. People with the kind of wealth that you have must realize that a stable society around you, including care for the elderly, is in everyone's best interests.

Between my husband and me, we've earned $4.7 million in our lifetime (we're early 50s) and I feel extremely wealthy.

You need an attitude adjustment and some gratitude.

[Anonymous]

Actually, Medicare is pretty good health coverage, esp. if you go with original Medicare. Everyone I've talked on who is on Medicare has good things to say about it, even people who don't usually go in for "socialist" programs.

With original Medicare, it's really clear what it covers and doesn't cover and no insurance company giving you those fun surprises of denying your procedures that they're supposed to cover. Medicare Advantage plans are a little different, I hear.