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    Medicare question

    I’ve been at my current job for 38 years and have been thinking about retiring. I have spoken with the retirement board and they told me my health insurance will go up from 550.00 month to 1700.00 a month when I leave( Im 57 now) I asked if that would go down once I reach 65 because of Medicare and she said no. When I was hired they did not take Medicare out of my check and I have been grandfathered in since. I am 20 credits shy of having the 40 I need to
    Qualify. My question is can I buy Medicare points or will I have to work somewhere that takes out Medicare for a few years to get those points?

    #2
    Never heard of buying points

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      #3
      How did you escape paying Medicare over the years. I contributed a couple hundred thousand and will still have to pay $500 or so a monthly when I qualify.

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        #4
        I didn't realize you could opt out of medicare. I know you can with Social Security with approved pensions.

        Public Servant?

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          #5
          Originally posted by jrfan View Post
          I’ve been at my current job for 38 years and have been thinking about retiring. I have spoken with the retirement board and they told me my health insurance will go up from 550.00 month to 1700.00 a month when I leave( Im 57 now) I asked if that would go down once I reach 65 because of Medicare and she said no. When I was hired they did not take Medicare out of my check and I have been grandfathered in since. I am 20 credits shy of having the 40 I need to
          Qualify. My question is can I buy Medicare points or will I have to work somewhere that takes out Medicare for a few years to get those points?
          You got me curious so I looked it up. I saw nothing allows you to buy points, you can only earn them while working. You can earn up to four points a year or one point each quarter where you earn about $1,500. With less than 30 points, Medicare is currently $471 a month (which is Part A or hospitalization), if 30 but less than 40 it is $259.

          HOWEVER……..

          I found a two different websites that said if you’re married for at least a year and your spouse is at least 62 years old and has enough credits, you qualify. It also gave other options such as being a widow, under some circumstances being divorce, etc.

          Married? Spouse works and has earned enough credits and Social Security eligible (at least 62)…. from what I read you qualify automatically.

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            #6
            Call a Social Security office and schedule an appointment to discuss that $ and point issue.
            I've never heard of not paying in to Medicare while employed. It's no skin off your employers back to do so.
            Last edited by Bluesman; 05-11-2022, 12:22 PM.

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              #7
              My employer has a pension plan that I’ve paid into for 38 years. They do take Medicare out on employees now but say I was grandfathered in when I started and have not had it deducted. I work for the City of Dallas.

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                #8
                I don't know anything about buying points.

                My wife and I pay per month:

                Original Medicare part A = 0
                Original Medicare part B = $170.10
                Original Medicare Plan G = $112.00 which covers all charges not covered by part B after the $233.00 deductible is met.
                Original Medicare part D Prescription Drug Plan = $10.60

                It has been awesome coverage.

                My wife has had a knee replacement and surgery on her wrist. We have had colonoscopies. I have had 3 MRIs and 2 biopsies that required day surgeries plus a lot of specialty Dr. visits.

                Sent from my SM-G965U using Tapatalk

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                  #9
                  Originally posted by jrfan View Post
                  My employer has a pension plan that I’ve paid into for 38 years. They do take Medicare out on employees now but say I was grandfathered in when I started and have not had it deducted. I work for the City of Dallas.
                  I was in your situation with SAFD but I saw the problem coming. My retiree medical required I buy Medicare part "B" so I got a part time job for my last 5 years of employment. Got just enough contributions to qualify. My Medicare is paid for and part "B" is mostly paid for. Because of my pension I am limited to SS payments of around $260/month and after paying part be I get a grand total of $11/month.

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                    #10
                    Only folks that can opt out that I am aware of are clergy--

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                      #11
                      Are you married? Has your wife paid Medicare taxes for at least 10 years?

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                        #12
                        Originally posted by Shane View Post
                        Are you married? Has your wife paid Medicare taxes for at least 10 years?
                        I said that in post #5 from my awesome Google abilities…..

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                          #13
                          Originally posted by tvc184 View Post
                          I said that in post #5 from my awesome Google abilities…..
                          Great minds....

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                            #14
                            Yes married. Spouse has always been a house wife staying home and taking care of the kids and house stuff. I spoke to a tax expert today and she said I can file an amended tax return on my side business for three years back. I would just pay the Medicare tax on those 3 years and that would get me 12 of the 23 points I need.

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