Social Security said I would have to pay the premiums my self our makeup the quarters I'm short. Can I pay the Quarters with my income tax refund, our wait for health care reform.
Ans. to # XXXXX If I wait for health care reform will I need medicare.
I'am about to turn 65 in Feb. I WENT TO APPLY FOR MEDICARE AND WAS TOLD I didn't have the right number of quarters. In 1998 when I turned 50 thay sent me a statement saying I had the min. in cash benafits and about 300.00 in medical benfits , Should I pay the part B and sup. D. our wait for HEALTH CARE REFORM. Thank you E. Freeman
Social Security said I would have to pay the premiums my self our makeup the quarters I'm short. OK. Can I pay the Quarters with my income tax refund, No, you can't "buy" additional quarters. Quarterly earnings credits (and you need 40 of them over your lifetime to be eligible for Medicare) are earned from working. You can earn up to 4 in one year, 1 for every $1130 you make in WORKING income. Depending on how many credits you are short, is how long you'd have to work. For instance, if you were only 1-4 credits short, if you earned the $1130 to $4520 asap, you could be eligible within 3 months. If you were 5-8 credits short, you could earn $4520 this year (to gain 4) and $1130-$4520 next year (even all in one month if you wanted) - to gain the other credits. You need not work all year to gain all 4 credits each year, you can work summer only or whatever works, to earn the sufficient amount of income upon which you'd pay your SS taxes and gain your credits.
our wait for health care reform. Health reform occurred and it didn't change this requirement, so I am not seeing where health care reform will help here. In fact, I believe the health care reform extracted hundreds of billions of dollars out of the medicare system over the next few years, making it less giving, unfortunately.
Now, if you don't have "creditable coverage" elsewhere (health insurance) once you are 65 and NOT on Medicare, you will later be charged a premium penalty when you DO sign up for Medicare - 10% higher premium cost for EVERY year you didn't have coverage after hitting 65. For this reason, if you don't plan on getting medical insurance elsewhere (via a job, private purchase, etc.) that counts as "creditable coverage", you should likely strongly consider paying your way into Medicare at age 65.
I hope this helps! Let me know if you need follow up before or after RATING me. And PLEASE know that my job depends on a POSITIVE rating now and at least an 8-10 feedback rating later. Thanks! I won't forget your support. Sincerely, Alexia Esq. ------- I think this is what you wanted to know. If not, please let me know and we can interact further. Otherwise, I wish you the best and ask that you Rate me now. HINT: I aim to provide only EXCELLENT SERVICE and ask that you click a rating on the RIGHT side of the choices OR, follow up with me if you need more follow up or clarification. AND, WHEN YOU DO RATE ME POSITIVELY, PLEASE SEND ME A REPLY LETTING ME KNOW YOU ARE DOING SO, SO WE CAN ENSURE IT GETS RECORDED. THANKS! You can ask for me directly in the future by starting your post with "To Alexia Esq." Or bookmark this page, and go to: http://www.justanswer.com/law/expert-AlexiaEsq/ Repeat reminder: Due to rules of our states, nothing herein is intended as legal advice, only intended as general information in order that you may have a starting point for helping yourself and presenting your issue to your lawyer if need be. I am an Attorney in the U.S. but I am not your attorney.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).