General Discussion
In reply to the discussion: does anyone know if seniors are eligible for ACA. [View all]DesertFlower
(11,649 posts)a public option. insurance companies and lobbyists are very powerful.
BTW. i guess you know higher income retirees pay more for medicare. i fall into that category.
http://www.ssa.gov/pubs/EN-05-10536.pdf
my husband passed in 2012 from an inoperable brain tumor. hospice couldn't keep him because he was doing well. they told me to put him in assisted living which i did. i panicked and took $125,000 out of his 401k. my friend said i had 60 days to put it back so i opened an IRA in chase bank and put $100,000 in. $25,000 was automatically taken out in tax by the fund. when i filed my taxes i found out that the $125,000 was considered income. after he passed i inherited the 401k and turned it into an IRA. because i was 71 i had to take a mandatory distribution. to make a long story short my income for that year was almost $255,000. i paid almost $55,000 in federal tax and a bundle to the state. none of my medical deductions counted with that high income. i'll be notified by social security next month that my medicare will cost an extra $105. also just found out that my medicare part D will cost an extra $31.50 -- not paid to the insurance company but to medicare. my income for 2013 will be approximately $92,000 so next year the medicare will go down, but it will still cost me approximately $43.00 a month more. i'm not complaining about the $43.00 -- i'm fortunate to have a good income (i'm collecting hubby's pension) , but the 2012 income was a mistake and i was given wrong information by the bank.
there will be some who will read this and not be very sympathetic. fortunately it was a joint return or i'd be paying more.
i guess my point is. if i'm paying more for my medicare and my doc refuses to take it i'd be really pissed off.