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keeperumiami
keeperumiami, Senior Tax Expert & Financial Planner
Category: Social Security
Satisfied Customers: 7197
Experience:  Sr Tax Expert/Financial PlannerCPA/PFS (retired)Over forty years of advising individuals & small businesses
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I need to know what my payment will be for Medicare, I'm on

Customer Question

I need to know what my payment will be for Medicare
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.
Customer: I'm on SS now and turn 65 in December. I was told Medicare payments would come directly out of my check
JA: Is there anything else the Accountant should be aware of?
Customer: no
Submitted: 2 months ago.
Category: Social Security
Expert:  keeperumiami replied 2 months ago.

Hello, my name is***** goal is to give you a complete & accurate answer. I am working on your request now & I will respond as soon as possible.

Expert:  keeperumiami replied 2 months ago.

Here's an overview:

Medicare Part A (Basic Medicare Hospital Coverage) - There's no premium.

Medicare Part B (Doctors, etc.) Standard 2017 Premium for you will be $134. per month (2018 hasn't been set yet) - This is what will be deducted from your Social Security Check.

Then there are other Supplemental Plans to cover the portion of Part A & Part B, not covered by the Basic Medicare Plans. You have to sign up for this supplemental coverage yourself.

Medicare Part D (Drugs) - There are various plans depending upon where you live & the coverages you select.

You should sign up for Medicare at least 2 or 3 months before you are eligible.

Those are the basics.

Here's link to a website that explains some of the additional information that you should be aware of. Also, you will probably want to consult with your local "SHIP" office which offers free in-person counseling with respect to the various specific plans available in your local area (which vary widely all over the country and within your state of residence depending upon where you reside).

https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html

Let me know if you have any follow-up questions.

Please remember to rate my response.

Thanks very much,

Steve G.