Hello Toni:
I am turning 65 in July, self-employed and my income is over $250K. Recently I received a letter from Social Security telling me that my monthly Medicare Part B premium of $135.50 would be doubled to $270.900 per month due to 2017 reported income. That was no surprise, but Social Security also said that the monthly adjustment for prescription drug coverage would be an additional $31.90. What is this all about?
I am in excellent health and take NO prescriptions. What happens if I do not apply for a Medicare prescription drug plan? Do I still have to pay the “extra” $31.90?
Also – What if a person goes the Medicare Advantage route instead of original Medicare + a supplement? Do they get to avoid the additional $135.50 per month for Part B and the $31.90 per month for prescriptions?
Thanks,
Mike from Oklahoma.
Hi Mike:
You can…
