[golfing eagles]

Originally Posted by jblum315

It is AARP Medicare Supplement Plan F. I've had the same plan for at least 10 years. It went up a few dollars but never like this

Something's wrong, if alone based on everyone else's premium increase of a few dollars for AARP/UHC plan F. Did you check with them to see if it was possibly an error?

[Fredster]

Originally Posted by jblum315

It is AARP Medicare Supplement Plan F. I've had the same plan for at least 10 years. It went up a few dollars but never like this

The reason I researched and switched to Mutual of Omaha supplement years ago was that my BCBS premium was increased quite a bit. There can be a substantial price difference between insurers for the very same plan!

[CFrance]

Originally Posted by Fredster

The reason I researched and switched to Mutual of Omaha supplement years ago was that my BCBS premium was increased quite a bit. There can be a substantial price difference between insurers for the very same plan!

My husband had the same problem with Mutual of Omaha Plan F. They started him out at around $160 when he turned 65, then proceeded to raise the premium every six months "due to age." When it went up over $230 two years later, we said the heck with this and went shopping. Got AARP Plan F for him and back down under $200, plus no automatic raises due to age.

I have had Priority Health Plan F (brought down from MI; not available in FL) for three years and only been raised a few dollars.

[Boomer]

Until the end of 2016, the medical deduction for those who itemize will remain based on the amount that exceeds 7.5% of AGI if you have turned 65. It is now 10% if you are under 65.

With the higher and higher cost of premiums, increased co-pays on prescriptions, qualified long term care premiums, dental costs, glasses, etc. you can reach a pretty big number.

For many of us, the medical deduction was something we never needed to consider because while we were working and had employer insurance, medical expenses never exceeded that 7.5% of AGI. But constantly rising costs coupled with a change in AGI because we are now retired can make it worth at least getting a big envelope to shove receipts into while hoping you don't need it but being ready if you do.

Being aware of how medical expenditures are adding up might become another factor in a decision about whether or not to tap an IRA.

I know you probably already know this if you itemize. And I know I am not an accountant and you should talk to one if you are interested in learning more about the medical deduction. But I am citing my source with a link to the IRS site, Topic 502, that will tell you more if you want to know. (The list of what expenses can qualify is actually fairly long.)

https://www.irs.gov/taxtopics/tc502.html

Boomer

[dbussone]

Originally Posted by jblum315

It is AARP Medicare Supplement Plan F. I've had the same plan for at least 10 years. It went up a few dollars but never like this

I agree with GE. I believe there is an error. I have an AARP supplement and I believe it went up slightly less than $3 per month.

[yabbadu]

Did you not know of the increase during the open enrollment time frame? Everyone has the opportunity each year to evaluate upcoming years premiums!