Medicare premium 2017 for joint filers is different.

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coffeehubcap
Posts: 198
Joined: Wed Sep 19, 2007 7:56 pm

Medicare premium 2017 for joint filers is different.

Post by coffeehubcap » Sat Dec 24, 2016 5:14 pm

Married filing joint return for 2016 was $104.80/month for each of us. 2017 statement from SS shows that one of us will pay $114 and the other will pay $112/month. Shouldn't they be the same amount?

Spirit Rider
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Joined: Fri Mar 02, 2007 2:39 pm

Re: Medicare premium 2017 for joint filers is different.

Post by Spirit Rider » Sat Dec 24, 2016 5:29 pm

Hold harmless provisions apply to the increase in your SS benefit. Different benefit amounts different possible limits on the increase.

Penguin
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Joined: Sat Mar 03, 2007 1:52 pm

Re: Medicare premium 2017 for joint filers is different.

Post by Penguin » Sat Dec 24, 2016 5:30 pm

No, because of the "hold harmless" provision.
For 2017, the COLA will be 0.3 percent. This amount is also too small to fully fund higher Part B premiums, so the hold harmless provisions will again be in effect. Instead of seeing their Social Security benefits rise by this amount, most people who are held harmless will instead see that increase applied to higher Part B premiums.

The average amount of that increase will raise Part B premiums by an average of about 4 percent, from $104.90 to about $109.00 a month. Exact increases will be tied to a person’s actual Social Security benefits, so Part B premiums will be larger than $109 for high-income beneficiaries and lower for those with below-average benefits.
read more here http://www.pbs.org/newshour/making-sens ... ductibles/
Jon

coffeehubcap
Posts: 198
Joined: Wed Sep 19, 2007 7:56 pm

Re: Medicare premium 2017 for joint filers is different.

Post by coffeehubcap » Sat Dec 24, 2016 6:02 pm

Thank you Penguin...you saved me a trip to the SS office.

S&L1940
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Location: South Florida

Re: Medicare premium 2017 for joint filers is different.

Post by S&L1940 » Sat Dec 24, 2016 6:24 pm

my increase in premium matched my increase in benefits - deduct is $110 and monthly payout is unchanged
Don't it always seem to go * That you don't know what you've got * Till it's gone

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BL
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Re: Medicare premium 2017 for joint filers is different.

Post by BL » Sun Dec 25, 2016 12:41 am

S&L1940 wrote:my increase in premium matched my increase in benefits - deduct is $110 and monthly payout is unchanged
Mine did, too. I just got the letter today.

Spirit Rider
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Re: Medicare premium 2017 for joint filers is different.

Post by Spirit Rider » Sun Dec 25, 2016 12:26 pm

If we get more inflation (1-2%+) this year which is likely, it will probably be enough to bring mostly everyone back together at $125 - $130 for 2018. Also, all the IRMAA people should actually see premium decreases.

Ron
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Re: Medicare premium 2017 for joint filers is different.

Post by Ron » Sun Dec 25, 2016 12:40 pm

Spirit Rider wrote:If we get more inflation (1-2%+) this year which is likely, it will probably be enough to bring mostly everyone back together at $125 - $130 for 2018. Also, all the IRMAA people should actually see premium decreases.
I'm already at $134 for 2017 without a high income; on Medicare but SS payments suspended.

I doubt if I will see a reduction once I release my SS suspension in January of 2018.

- Ron

Spirit Rider
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Re: Medicare premium 2017 for joint filers is different.

Post by Spirit Rider » Sun Dec 25, 2016 2:43 pm

Ron wrote:
Spirit Rider wrote:If we get more inflation (1-2%+) this year which is likely, it will probably be enough to bring mostly everyone back together at $125 - $130 for 2018. Also, all the IRMAA people should actually see premium decreases.
I'm already at $134 for 2017 without a high income; on Medicare but SS payments suspended.

I doubt if I will see a reduction once I release my SS suspension in January of 2018.
You are paying $134 because existing SS recipients having their premiums deducted, saw no increase in premiums for 2016 and on average only $5 increase for 2017. If inflation is high enough, everyone will be paying their fair share. The people currently having their premiums limited because of the "hold harmless" provision with be equalized with everyone else.

They represent 2/3 of total recipients, which is why the other 1/3 have been carrying the burden. Without the hold harmless provision, everybody would be paying about $125. If there is sufficient inflation, the premium for everyone should be the current equalized premium plus what ever percentage increase there will be in Medicare benefits paid out.

I'm saying, that in the most likely scenario that could result in a small decrease for people currently paying the full ride.

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