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Old 05-11-2022, 12:50 PM   #1
jrfan
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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?
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Old 05-11-2022, 01:16 PM   #2
Stan R
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Never heard of buying points
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Old 05-11-2022, 01:26 PM   #3
M16
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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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Old 05-11-2022, 01:34 PM   #4
mmoses
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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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Old 05-11-2022, 02:03 PM   #5
tvc184
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Quote:
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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Old 05-11-2022, 02:11 PM   #6
Bluesman
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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 at 02:22 PM.
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Old 05-11-2022, 02:32 PM   #7
jrfan
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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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Old 05-11-2022, 02:40 PM   #8
Arrowsmith
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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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Old 05-11-2022, 03:04 PM   #9
Walker
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Quote:
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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Old 05-11-2022, 03:07 PM   #10
dustoffer
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Only folks that can opt out that I am aware of are clergy--
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Old 05-11-2022, 03:13 PM   #11
Shane
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Are you married? Has your wife paid Medicare taxes for at least 10 years?
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Old 05-11-2022, 05:54 PM   #12
tvc184
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Quote:
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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Old 05-11-2022, 05:58 PM   #13
Shane
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Quote:
Originally Posted by tvc184 View Post
I said that in post #5 from my awesome Google abilities…..
Great minds....
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Old 05-11-2022, 08:50 PM   #14
jrfan
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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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