Mr. Wong is a single individual. He has had a successful business career and is now able to retire with a comfortable income. Mr. Wong's taxable income is in excess of $100,000. Mr. Wong has health coverage through his employer but will sign-up Medicare Part A, Part B and Part D when he leaves the workforce. How would you advise him as he budgets for Medicare premiums?

Question

Caroline

Business

19 March, 16:02

Mr. Wong is a single individual. He has had a successful business career and is now able to retire with a comfortable income. Mr. Wong's taxable income is in excess of $100,000. Mr. Wong has health coverage through his employer but will sign-up Medicare Part A, Part B and Part D when he leaves the workforce. How would you advise him as he budgets for Medicare premiums?

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Answers (2)

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Jada Bartlett · Answer 1

macra provisions

Explanation:

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Raven · Answer 2

Basically, here are the things I would tell Mr. Wong:

- Since he's participating in the workforce, He does not have to spend a single penny for the medicare part A. So he can pretty much focus his budget on the medicare part B and part D.

- According to the federal, workers with higher than $85,000 income need to pay higher premiums for part B and D. Nothing Mr. Wong can really for this higher payment. (since's he is considered middle to upperclass earner).

But, he can adjust his part B and Part D plan with private insurance to cater specifically for the type of treatment that he wants. (so he does not have to pay for all type of specialists/drugs and reduce the overall cost)