Has anyone received their SSA statement for 2023? Is your Medicare cost increasing??

The other posters probably know more about this than I do, but my thought is:
If you have a Medicare Part C (Medicare Advantage Plan) then your plan might change more significantly.

And worth noting, if that is the case, that the Open Enrollment period, is now and ends at the end of the first week of December. You could and would want to investigate, very soon, whether or not you want to switch plans for the year of 2023.

My entire thought in this post, solely applies to Part C,
which I am definitely not an expert in, but might explain why your premiums could change more drastically that traditional or original Medicare premiums are going to do, as said in the previous posts above.
 
My husband`s changed to the same amount as well-although his was a little less than mine before now.That is possibly because his Part D is a little less than mine.

And yes,I thought Medicare was supposed to be going down for 2023 as well,so I was shocked! Will have to look into it further....
 
Mrs. Robinson said:
My Medicare has been $192.80 per month.Now it shows that it will be $428.60! Am I reading this wrong???
Click to expand...
Not sure how the $192.80 previous rate came about, unless you had the standard part b deduction AND possibly Part D, being withheld.

That $428.60 monthly figure is dead on for an individual with modified gross income of $153,000 ~ $183,000. or joint of $306,000 ~ $366,000. Not sure what year that would be based on, but think maybe 2020 or 2021.

Did you have some type of windfall income, during one of the past few years?
social security.jpg
 
Mrs. Robinson said:
I had no idea it would affect our Medicare premiums-how dumb am I?
Click to expand...
Not so dumb.
I had not heard of this, either.
In addition, it is always very wise (not unwise ;))
to question it, whenever there is any unexpected spike than expected, in most anything, because there truly are errors made, and one should not just accept them all as unavoidable true increases, without further investigation!
 
Mrs. Robinson said:
My husband`s changed to the same amount as well-although his was a little less than mine before now.That is possibly because his Part D is a little less than mine.

And yes,I thought Medicare was supposed to be going down for 2023 as well,so I was shocked! Will have to look into it further....
Click to expand...
We too sold a property in 2021.
We set aside a good portion for taxes paid in 2022, the April quarterly, then when we finally got the 1040 from the CPA, an additional amount for the tax and a penalty for a late payment (gave the CPA everything in late February.) Still have about $15k in savings to pay for 2023's IRMMA.
 
IRMAA (income-related monthly adjustment amount) is a higher premium for Medicare Parts B and D. Social Security uses income tax information from two years ago to determine if you owe IRMAA in addition to your monthly premium.
 
leastlongprime said:
We too sold a property in 2021.
We set aside a good portion for taxes paid in 2022, the April quarterly, then when we finally got the 1040 from the CPA, an additional amount for the tax and a penalty for a late payment (gave the CPA everything in late February.) Still have about $15k in savings to pay for 2023's IRMMA.
Click to expand...
B increase to $330/p (standard B is $165) total with IRMAA adjustment.
D increased to $32/p. I will take the better B coverage at $58 because I may be taking more expensive drugs.
The set aside money from the property sale, will be adequate.
 
Last edited:
leastlongprime said:
B increase to $330/p (standard B is $165) total with IRMAA adjustment.
D increased to $32/p. I will take the better B coverage at $58 because I may be taking more expensive drugs.
The set aside money from the property sale, will be adequate.
Click to expand...

Very interesting, and good to learn about. Important for some others to be aware, if it might apply to them. Thanks for sharing that. I'm glad you knew to set aside, an adequate amount.

I will just correct the typo in your post, in case someone else is reading it. You are opting to take a better Part D, coverage which has a higher premium cost, due to anticipated possible drugs.
 
We appealed this decision based on the fact that my husband stopped working in that year,which is one of the reasons they give to grant an appeal. I received a phone call a few days later from our local SSA office stating that I had forgotten to note the date he stopped working.I told her the date,but a couple of weeks later received a notice that our appeals were denied.

I didn`t understand that,given that it seemed that we fit the criteria for an appeal but oh well.Thankfully our eldest daughter is a beast when it comes to things like this and insisted we appeal again.I took the paperwork in and the person at the desk looked at it,looked on his computer and seemed baffled as to why it was denied.Gave me a woman`s name and number to talk to which I did.It was the same woman whom I had spoken to about the missing date. She said "You neglected to put the date your husband stopped working:rolleyes:"I said yes,but you called me and I gave it to you.It was March 31,2021." She said "Oh,ok,I`ll resubmit it!" And within a few days,$628.00 was deposited to our checking account! Saturday I received the official notices that our appeals were granted.YAY!!
 
Kaila said:
Wow, @Mrs. Robinson
What a great job you did with that!
Congratulations on your persistence.
Click to expand...
I have to say that it was mostly my daughter`s nagging that made me persistent lol. BUT,I do get bugged when I`m reading something and I am certain that I am reading it correctly,but no one seems to be listening.Years ago,as bookkeeper for our business,I was reading what supplies should be taxable to us and which shouldn`t,as we had a resale card.For years we had been paying sales tax on our paint and paint supplies(sandpaper,masking paper and tape etc.)Oh,our business was auto body repair. Well,one day I was reading the "rules" as to taxable items and it stated that anything that becomes a permanent part of the car is non-taxable.That said to me that paint should not be taxable,as it does become a permanent part of the car. I spoke with the paint dealer and they said oh,no no,it`s all taxable to you.So I called the State Board of Equalization for clarification and turns out I was correct. The downside was that I had to prove that we had paid all that tax,which left me sitting at my kitchen table for weeks going through what seemed like thousands of invoices and sorting out taxable from non-taxable items. And then,even though this had been happening for probably 25 years at that point,we could only go back and collect for 3 years. But in the end,at least I knew that I had understood what was written correctly.
 


Back
Top