I really thought this whole medical insurance--medicare thing couldn't get any worse, but wouldn't you know, I was wrong again, and it DID get worse!!!
I got a letter yesterday from the Social Security Administration saying they were deducting $272.70 from my check for medicare insurance. I had previously been told that Part A had no cost and Part B would be $90.00. Well here's the scoop on THAT BIG LIE!!!!! In 2012 I had an annuity mature and I decided to take it out all at once, bite the bullet and pay the taxes. The reason was the company kept my money an additional 6 months, saying they did not RECEIVE it for 6 months after I signed the paperwork, even though the bank HAD the money in my account .. which didn't set well with me.
So what Medicare did was go back to the 2012 tax year and include ALL of that as income, putting me in a ridiculous tax bracket like I was a lawyer in New York!!! From their standpoint, I'm rich ... and I should pay $273.00 for Part B Medicare Insurance EVERY MONTH!!! I guess they are right ... I SHOULD be penalized for working my butt off, saving every extra dime and investing it wisely for my old age. If I just said screw it, sat on the porch and drank beer all day, my insurance would be free. How dumb of me to think I should be smart and not want to be dependent on anyone!!
Needless to say, I'm furious!! My full coverage health insurance at the County, $398 a month, will now cost me $413 a month with NO prescription coverage. If I signed up for prescription coverage, it would be costing me an additional $105 per month!!! Yeah, I guess I really SHOULD be paying health insurance for all those low life derelicts who won't lift a finger to help themselves, who go to the hospital emergency room with a cold, gamble and play bingo on their EBT cards, own Cadillac Escalades, pay NO taxes and have twelve screaming kids that will become just like them!!!
So for the next year, I will pay $4,952 dollars for Part B and Part F Supplemental health insurance I will never use. I went to the doctor twice two years ago and once five years before that. So here's my plan to at least get my moneys worth ... I'm going to make a doctor's appointment once a month and go for absolutely nothing. Every other month, I'll park myself at the Emergency Room for a stomach ache. At least I'll use up MY part of the money and it won't be spent on some welfare recipient!!!
If I had any idea that something like this would happen when I took that money out, I would have left it there. By the way, they include capital gains, sale of property, withdrawals from an IRA, conversion from an IRA to a Roth IRA ... ALL as income ... it's tacked back on to your adjusted gross income. So if you have anything like this at all, be sure you take ALL the money OUT before you turn 63 ... that way it won't show up as income for your medicare insurance. I'm so mad I can't see straight!!!!! Guess I better meet with my tax accountant and see what I can do for all the other investment money I have stashed away ... because FOR SURE they are going to try and get their hands on THAT TOO!!!!!