7 Ways You Can Save Money on Medicare Premiums

Medicare premiums sometimes come as a shock to new Medicare beneficiaries. Maybe you noticed that the federal government has been deducting taxes out of your paychecks for years. And yes, these deductions go toward funding your future Part A Medicare premiums as well as your Social Security income checks.

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[kayBTR]

Since you are speaking to older people you may want to slow down a bit/a lot. Not only is this is all new information we are figuring out but older brains just doesn’t work as fast as they did when it was younger. Thanks for a great video.

[RonMac]

Thanks for the information, I went from a six-figure income to a no-figure income when I retired.

[grride]

Very reliable and sound information and advice as usual. Thank you for your Medicare information.👍🏾

[Miguel]

Another way to reduce premiums is to choose wisely your supplemental insurance company.

[carmenwilley]

What do you think of United Healthcare PPO?

[carmenross]

Is dual community plan better than just traditional Medicare?

[kimfox]

How does Tricare work with Medicare? Does Tricare satisfy Part B Medicare requirement?

[emikami]

Is IRMAA payment a qualified HSA expense? One school of thought is that IRMAA is part of the Part B and Part D premium, therefore, it is eligible as qualified HSA expense. The other is that IRMAA (Income Related Medicare Adjustment Amount) is a surcharge and not a premium thus is not an eligible qualified HSA expense. After reading IRS publication and Internal Revenue Code, I can't seem to find a definitive answer.

[jamescalifornia]

Many of us have savings when we retire. I think that will likely disqualify from help with Part B ?

[sososo]

Can you open an HSA and put a considerable of money it, prior to going on Medicare - even if you are approaching the 6 month sign up period for Medicare?

[timward]

As a retired military member I understand I can continue to pay for Tricare Prime, by doing so is there any reason I would need to pay for Medicare Part B and Part D?

[peterhoffman]

We are doing some research into this matter as my wife and I will turn 65 next year. We have gotten tips from your site and others and may see local advisors as well. Is it possible to get opinions from various sources and each get paid for their help or does only one source get paid due to 'signing on the dotted line' with only one person. I guess I am asking if we must 'sign up' with one person to get the help we need regarding Medicare fees or would 'signing up' with various people be wise (or foolish)??

[elvertonchin]

I recently applied for medicare only in April 2021. In 2019, I had purchase a house as my primary resident and had transferred funds from my 401k as a downpayment. In the process, this had inflated my adjusted gross income and my Part B premium is higher than the standard rate. Can I appeal this in anyway, as this is not my regular income and if so, what can I do to try and reduce this premium.

[waterwine]

I was sent the extra helps package. My brother said it was a scam but no it’s legit. They want to know absolutely everything you have. Wow 😯 guess that’s okay if you have very little. So I wouldn’t qualify but I was a bit surprised how detailed it is.

[billybell]

I don't want any of it. I prefer my own private non government plan. Shouldn't force this on retirees. Just an extra expense.

[jenmidwest]

It seems middle income people who have worked all of their lives don't get any breaks. Also the "hold harmless" law is making my Medicare premiums increase!! Why should I have to go back to work to subsidize those who are getting the subsidies. I can't listen to this stuff. Pisses me off too much.

[cathycombs]

Hi there
My uncle is barely a little higher to qualify for Any extra help with part D or premiums
He struggles. On his low income to pay when he gets in the donut hole
He currently has Humana. advantage plan
Is there any help for him ? He has already applied and been denied although as I stated he is barely over the
Exact low income level

Thanks so much
I am trying to help him as he is not computer savvy at all
Plus is Kentucky one of the states that could offer him any help at all?
Thank you again

[KentWilke]

Link to 50 Ingenious ways to earn money in retirement?

[mljacobsen]

Earlier this month I appealed my IRMAA amount for both 2019 and 2020 since my income was and will be substantially lower than it was in 2017 and 2018. I couldn't get an appointment at my local office, so I mailed everything (and got a confirmation of receipt.) Does anyone have any idea how long it takes for the SSA to respond?

[t.a.b.]

My Medicare premiums all included with a medigap and drug plan are so reasonable I'm like a kid in a candy store and i made over six figures for more than 25 years of my working life. Good info on part D.
Thanks.