Login to "my Social Security" account, or create one if you do not have one already. You should have a letter there that explains "Your 2023 Social Security Benefits Increase and Medicare Premiums."My Medicare has been $192.80 per month.Now it shows that it will be $428.60! Am I reading this wrong???
Not sure how the $192.80 previous rate came about, unless you had the standard part b deduction AND possibly Part D, being withheld.My Medicare has been $192.80 per month.Now it shows that it will be $428.60! Am I reading this wrong???
Not so dumb.I had no idea it would affect our Medicare premiums-how dumb am I?
I would guess it would, though of course, that's just my guess.Hope it drops back down next year....
We too sold a property in 2021.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....
B increase to $330/p (standard B is $165) total with IRMAA adjustment.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.
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.
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.