My Member Can't Afford his Part B Premium- While Working

[bluediamond]

I didn't somarco I ended up paying almost all of what I received between 62 and 63 the past year and a half. Just started drawing again this past April and I was told I would not be paid back any down the road. But you do get different answer's every time you call. If you call a day before a government holiday they act like you're disturbing them. I tried to set up an appointment locally, they no longer do appointments and only see people between 9-3 daily except Wednesdays and then only 9 until noon.

 

[somarco]

First year earnings test grace period
Retirement Planner: Special Earnings Limit Rule

Yes, I know you get a different answer every time, but the above comes from their site.

 

[WCMason]

Not the first year. You get a "grace period" on the earnings test the first year you begin SS.

They do divide the annual earnings limit by 12 so that those who retire mid-year and are already over the limit that tax year don't get anything withheld for the months after they stopped working. That "grace" wouldn't apply to this couple if they began collecting SS benefits while continuing to work if either of their monthly incomes exceeded $1290 this year, $3450 next year until their 66th birth month.

 

[somarco]

"Member" is not collecting SS now. Earliest they could get their first check if they applied now is November, probably December.

OTOH if they can't afford to pay Part B now they have bigger problems than just bridging the short run.

 

[WCMason]

I didn't somarco I ended up paying almost all of what I received between 62 and 63 the past year and a half. Just started drawing again this past April and I was told I would not be paid back any down the road. But you do get different answer's every time you call. If you call a day before a government holiday they act like you're disturbing them. I tried to set up an appointment locally, they no longer do appointments and only see people between 9-3 daily except Wednesdays and then only 9 until noon.

The SSA reps process applications. You're not likely to get reliable information on how things work. Withheld money is paid back by recalculating your benefit and increasing it a small amount over time so you may not even notice it.

The "grace period" is not a blanket earn all you want the first year with nothing withheld. It applies to those who start collecting SS mid-year after having exceeded the annual limit for that year but whose monthly earned income after starting to receive the SS check will not exceed 1/12 of the annual limit.