Did your Medicare Part B premium increase 270% in 2016 from what you paid in 2015? Assuming that your health status hasn’t changed, how is that possible? What about the fact that there was no increase in Part B premiums for Social Security recipients since there was no cost-of- living increase for 2016 benefits? Medicare…
One of the reasons that many people don’t defer the start date of their Social Security benefits beyond their full retirement age is the belief that their increased benefits will get eaten up by Medicare premium increases. This is not true.
There are a lot of moving parts to consider when doing retirement planning. Healthcare expenses are an important consideration in this process.
Medicare wasn’t designed to handle significant long-term care expenses. Medicare only covers medically necessary care with the focus on medical acute care.
if you do a Roth IRA conversion in 2010, it could increase your Medicare Part B premium amount for two years.
Any income resulting from a Roth IRA conversion will be added to your other income to determine the amount of Medicare Part B monthly premium you will pay.
Since the Medicare premium is an important consideration for anyone 65 or older evaluating a Roth IRA conversion, I am devoting three posts to this topic.
23 Corporate Plaza Drive, Suite 150
Newport Beach, CA 92660-7908
Phone: (949) 251-0910 or Toll Free: Plan2Retire (844-752-6273)
Email: info@RetirementIncomeCenter.com
Advisory services offered through Retirement Income Center, a Registered Investment Advisor
©2021 Robert Klein and Retirement Income Center. All rights reserved.
