Talk of The Villages Florida

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-   Medical and Health Discussion (https://www.talkofthevillages.com/forums/medical-health-discussion-94/)
-   -   Annual income vs Medicare costs (https://www.talkofthevillages.com/forums/medical-health-discussion-94/annual-income-vs-medicare-costs-338288/)

RUCdaze 01-20-2023 11:22 AM

I sold a home in New Jersey and had a large taxable income spike. The following year my Medicare cost went sky-high. The one-year spike in my income was a one-time thing. I wonder if the IRS will be so conscientious about lowering my payments in the future.

Aces4 01-20-2023 12:52 PM

[QUOTE=Wondering;2177725]'if your income is $97,000 or less you pay $164.90. $97,000 - $123,000 you pay $230.80. As you earn more you may move into a new threshold and increase in you monthly payment.[/QUOTE

Xxxx

retiredguy123 01-20-2023 01:05 PM

Quote:

Originally Posted by Caymus (Post 2177609)
I have found that the more a product is advertised, the less useful it is. More so when celebrities are involved.

I agree, but one exception would be beer.

Jack58033 01-20-2023 01:36 PM

Boomer, That is probably true of everything you read on this site.

Nordhagen 01-20-2023 04:49 PM

Medicare Premiums
 
Quote:

Originally Posted by kbace6 (Post 2176981)
We are in the planning stages for some retirement income and watched a financial video on YT that alluded to an increase in the cost of medicare depending on your income.

The question I have for you more seasoned folks is, have any of you been on the edge of income where you paid a particular price for medicare one year and then more the next year due to a spike in your income, and then the cost of medicare went back down again the next year because the spike in your income may have been just a one-time thing?

I'm not talking about the government changing the costs, but rather where your individual situation was the catalyst.

Thank you in advance for your informed answers.

Penalizing success! Want to make sure you are “paying your fair share”.
You’re paying much more for the same care. At least it should be better, no?

Nordhagen 01-20-2023 04:50 PM

Medicare
 
Quote:

Originally Posted by crash (Post 2177704)
That is exactly how it works. The first income point is $179,000 where if you make more than that your Medicare doubles. If the next year you make less than that it will go back down.

Why???!


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