Social Security Q&A: How Do I Terminate My Medicare Part B Insurance?
Question: How do I terminate my Medicare Part B? Answer: You can voluntarily terminate your Medicare Part B (medical insurance). But because this is a serious decision that could have negative ramifications for you in the future, you’ll need to have a personal interview with a Social Security representative first. The representative will help you complete Form CMS 1763. This form isn’t available online. To schedule your interview,...
Social Security Benefits Won’t Be Increased
Washington — Older Americans got a double dose of bad news Thursday: There will be no cost-of-living increase in Social Security benefits next year, and Medicare bills are set to soar for many. It’s just the third time in 40 years that Social Security payments will remain flat. All three times have come since 2010. The annual cost-of-living adjustment, or COLA, by law is based on a government measure of inflation that was released...
Social Security Q&A: What Do I Report if I Get SSI Payments?
Question : What do I need to report to Social Security if I get Supplemental Security Income payments? Answer: You need to report any changes that may affect your payment amount. This includes changes in your income or resources. You must report changes of address, changes in your living arrangements and changes in your earned and unearned income. To learn more about SSI, visit our website at http://www.socialsecurity.gov/ssi . Q: How...
Consumer Confidential: Imagining Seniors in a World Without Medicare
It’s pretty well known that Americans pay more for health insurance and medical treatment than people in other developed countries — at least until they turn 65 and are eligible for Medicare. But what would things look like if the government-run insurance plan wasn’t an option? Kaiser Permanente provided a glimpse of such a prospect when it notified Los Angeles resident Layne Smith recently that his monthly insurance premium would...
Social Security Q&A: What Are the Different Parts of Medicare?
Question: I will rely on Medicare when I retire. Can you explain the different parts of Medicare? Answer: The different parts of Medicare cover your specific needs. There are four parts, all of which work in tandem to deliver health care services. Part A (hospital insurance): Hospital insurance helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care, and hospice care....
