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Medicare Confusion— Can We Blame It On The 800-Pound Gorilla?

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Disclaimer: Thomas Segel is responsible for this content, which is not edited by the Wilson County News or wilsoncountynews.com. |
December 17, 2011 | 1107 views | 11 comments
Harlingen, Texas, December 17, 2011: Concerning my previous commentary on the topic of the Patient Protection and Affordable Care Act, better known as Obamacare, I was excoriated for a misstatement. The subject of the article was the 800-pound gorilla (Obamacare) in the room that Republicans are failing to talk about during this primary season. Numerous provisions of that bill were sited as being examples of what Americans do not want in any healthcare legislation.
On the topic of Medicare and future premiums to that program, my friend Charlie Revie scolded me for being wrong is saying the 2014 premium would jump to well over $200 a month a person and close to $500 a month for couples living on fixed incomes. He informed me that both Snopes.com and FactCheck.com stated this was false. I could reply that the two websites mentioned are wrong just as much as they are right on many issues. However, Charlie’s comment just adds fuel to the ongoing controversy about how confusing these massive multi-hundred pages called a healthcare bill really is to most Americans. Even when the text is read, you can come up with a variety of different interpretations of the act.
Charlie Revie tells me the 2012 premium for Medicare will be $108.20. The figure I read was $104.20. The Medicare website says we will pay $99.90. However, I just received an email from Lieutenant Colonel Paul Kelly, U.S. Army (Ret). He has just turned 65, is single and is now living in the Philippines. Kelly said he had a letter in his hand stating his Medicare cost would be $115.40 a month starting in November 2011.
If you want to become even more confused about how much you will pay, study the new rules that incorporate your Modified Adjusted Gross Income into what you will be charged monthly for Medicare coverage. Modified Adjusted Gross Income or MAGI is figured by adding a variety of deductions, such as your IRA contributions/deductions, student loan interest, foreign housing credits and other selected deductions back into your total income amount. If your MAGI is under $85K you will pay a standard premium of $99.90 a month in 2012. If your personal MAGI hits $107K the Medicare premium jumps to $146 a month. Should you have a personal MAGI of more than $214K that monthly premium will be in excess of $353.60 a month. All of this comes directly off the Social Security website. What it truly reflects is all Medicare coverage now and in the future will be weighted directly to your income, with those who are rated as being in any higher income category being charged higher fees.
So, it can be strongly argued that nobody really knows how much his or her upcoming Medicare premiums will be. They must just wait and see how the Social Security bureaucrats to select what deductions from your total income will be allowed, use their calculators to decide what your MAGI is and then decide how much you should be charged.
Semper Fidelis |
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| Your Opinions and Comments |
Rock'n chair Rambler
Over Taxed, TX December 21, 2011 7:08am |
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Alvin Charmaine
December 20, 2011 2:48pm |
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4 th Generation Texan
Sutherland Springs December 20, 2011 12:24pm |
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Rock'n chair Rambler
Over Taxed, TX December 20, 2011 7:37am |
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Alvin Charmaine
December 19, 2011 11:10am |
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Facts only please
TX December 19, 2011 9:47am |
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Rock'n chair Rambler
Over Taxed, TX December 19, 2011 8:44am |
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Alvin Charmaine
December 19, 2011 6:36am |
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Elaine K.
Floresville December 18, 2011 9:34pm |
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Rock'n chair Rambler
Over Taxed, TX December 18, 2011 4:47pm |
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