I received a call from an individual who was turning 65. Because she is receiving social security benefits, she was automatically sent her Medicare Part A and Part B card. However, because of the higher adjusted gross income on the tax return, her premium for Part B would be higher than this year’s minimum and there would be an IRMA (surcharge) on top of the premium for the Medicare drug plan she selected.
As a result, in her situation, she has decided to remain on her spouse’s company health insurance and informed Social Security that at this time she will only need Part A coverage. She will be sent a new Medicare Part A only card by Social Security. Should she decide at a later date to leave her husband’s employer plan, she will be entitled to a special election period onto Part B, no penalty.