Part B - IRMAA & LEP

[DS4]

he's considering going without Medicare Part B.

That is all I need to hear. I would wish him good luck with this approach and move on!

 

[FLM2]

Missed that piece. Red face!

That's something that licensed agents will always know and posers (like yourself) would ignore because of a complete lack of training and real life experience.

I truly pity any consumer or new agent that reads your crap and makes a decision based on the inaccuracies.

 

[somarco]

Scott, since he never needs Rx I can't understand why he is talking with you. He should go the SHIP or the lovely folks at 1-800-MEDICARE.

Or he could just call a carrier direct and sign up for the lowest premium plan he can find on his own.

 

[LostDollar]

That's something that licensed agents will always know and posers (like yourself) would ignore because of a complete lack of training and real life experience.

I truly pity any consumer or new agent that reads your crap and makes a decision based on the inaccuracies.

Reading on page one I saw your other post and missed that there were two pages and you had posted the above. I thought you had reformed and sent you the following pm:

Thank you for being gracious enough to not "score points" off my post.

I take the pm back.

 

[FLM2]

Reading on page one I saw your other post and missed that there were two pages and you had posted the above. I thought you had reformed and sent you the following pm:



I take the pm back.

You really live in a dream world.

All of us who are licensed agents live in a world where we are always one step away from an issue that can ruin our businesses, whether it's a disgruntled client filing a complaint, an insurance company taking away commissions, or a DOI taking a negative action.

Most of us on this forum have successfully worked through the system to build profitable businesses while all you do is make unintelligent assumptions about important issues and try to persuade readers to listen to you.

There are no consequences for you being wrong (as you usually are) so for you to live in a dream world where you aren't subject to ridicule by those of us who are licensed is about as likely as you actually having the guts to get a license.

 

[sman]

That's something that licensed agents will always know and posers (like yourself) would ignore because of a complete lack of training and real life experience.

I truly pity any consumer or new agent that reads your crap and makes a decision based on the inaccuracies.

Unfortunately I've come across licensed agents who didn't know the 20 employee rule.

 

[LostDollar]

You really live in a dream world.

All of us who are licensed agents live in a world where we are always one step away from an issue that can ruin our businesses, whether it's a disgruntled client filing a complaint, an insurance company taking away commissions, or a DOI taking a negative action.

Most of us on this forum have successfully worked through the system to build profitable businesses while all you do is make unintelligent assumptions about important issues and try to persuade readers to listen to you.

There are no consequences for you being wrong (as you usually are) so for you to live in a dream world where you aren't subject to ridicule by those of us who are licensed is about as likely as you actually having the guts to get a license.

What an amazing flood of vituperation and negativity. Cutting people down is not a good way to add inputs to your business relationships.

 

[WCMason]

My view is - look, there aren't really any other options here, you need to get Part B unless you want to be (basically) uninsured. And if you do go without B - you need to know what you are stepping in. He asked if there was any other option - I couldn't think of any - but thought I'd come on here to see if you all knew of something I might be missing.

Thanks!

This last paragraph of your post summed it up best. As expensive as IRMAA is, even at the top end, it's the best insurance he's going to get for the money other than if he were to get a job with an employer having 20 or more employees who was subsidizing the cost of the employee insurance. That is, as long as he is paying rather than someone else, Medicare beats all other options at cost and coverage, including the dopey one about a creating a two person group suggested by a non-agent in an earlier response.

With my primary source of clients being referrals from financial advisors, IRMAA is a common part of my conversations with people about Medicare. Most take it in stride, but I occasionally get one who loses it when they learn about IRMAA. If I had just told them the going cost of a med supp was $400 they'd likely handle that fine, but it's emotional when it's the government reaching in their pockets yet again. He really needs to get the emotion out of and take Part B as the best financial decision available to him.

Usually they can be persuaded to take Part B with the surcharge. Drug plans are another matter. That $72.60 IRMAA keeps many of my high income clients from taking a drug plan if their drug needs are low.

 

[kgmom219]

This last paragraph of your post summed it up best. As expensive as IRMAA is, even at the top end, it's the best insurance he's going to get for the money other than if he were to get a job with an employer having 20 or more employees who was subsidizing the cost of the employee insurance. That is, as long as he is paying rather than someone else, Medicare beats all other options at cost and coverage, including the dopey one about a creating a two person group suggested by a non-agent in an earlier response.

With my primary source of clients being referrals from financial advisors, IRMAA is a common part of my conversations with people about Medicare. Most take it in stride, but I occasionally get one who loses it when they learn about IRMAA. If I had just told them the going cost of a med supp was $400 they'd likely handle that fine, but it's emotional when it's the government reaching in their pockets yet again. He really needs to get the emotion out of and take Part B as the best financial decision available to him.

Usually they can be persuaded to take Part B with the surcharge. Drug plans are another matter. That $72.60 IRMAA keeps many of my high income clients from taking a drug plan if their drug needs are low.

What he said.

My only question was to confirm that he will be staying above the $428K in 2017. You can appeal it to get it lowered if you can prove a drop from the 2015 1040.

Also, how much is he paying now? Even at $500 (IRMAA B&D) plus $150 (G&D over-guesstimate), he should still be lower than his current rates. Without a deductible (or $183) for almost 100% coverage. $7K a year isn't very much for 100% coverage, especially considering there is no OOP on A.

 

[TN_agent]

In addition to what FLM2 said he will be paying the penalty for not having ACA compliant coverage,pay penalty for part B,may pay LEP for part D if ST rx coverage not creditable, has to renew and qualify for a short term policy every 3 months now and also worry about the pre x on short term .For a high income earner who probably has assets to protect this is just stupid-IMHO.

Just an aside, but everything I have read says having Medicare Part-A only is considered compliant for the purposes of the ACA penalty. So no penalty for him once on Medicare A only.