New Medicare enrollee says monthly premiums hit $938, topping their $803 private plan

"I'm wondering how long it takes for me to see it as an improvement."

A first-time Medicare beneficiary on Reddit said the switch felt like a shock after comparing monthly costs: $938 under Medicare versus $803 with Blue Cross Blue Shield.

Here's what to know

"I'm still in my first month as a Medicare patient, and I'm wondering how long it takes for me to see it as an improvement," the original poster wrote.

Commenters pointed to IRMAA, the income-related surcharge that pushed the poster's Part B premium to $405.80 from the $202.90 base amount they mentioned.

One commenter said a person who had retired might be able to reduce that surcharge by filing form SSA-44 and selecting "work stoppage" in the life change event section.

The same commenter added that the form may need to be filed "each year for the next two years until your income two years earlier is less than the IRMAA limits."

The poster responded that they were "not retired" and still had investment income, adding, "I assume investment income counts towards IRMAA."

Another user replied, "Of course it does — it is taxable income."

More background

Some users said the higher premium was driven in part by the poster's income, not by the coverage itself.

"It's good to have a high income to cause the high premiums!" one user said.

Another wrote, "FWIW some years I do pay IRMAA, but I consider myself fortunate to have an income so that I don't have to worry about making ends meet."

Someone else argued that Medicare can look more appealing when major medical care is needed. They described being a cancer patient who had been "swimming in bills" before moving to Medicare. That user said private insurance had cost $13,000 out of pocket and still left them paying for PET scans because their "platinum" plan would not cover them.

"Fast-forward to Medicare — crickets," they wrote. "They haven't disallowed anything, they've approved all my scans, and I almost never see any bills whatsoever."

One commenter asked the poster, "Did you look into Plan G HD? In a lot of states it's a much better deal than just Plan G."

Beyond the IRMAA increase, the poster's largest expense was the $370.50 monthly Plan G premium.

Where can I learn more?

These stories examine other Medicare questions.

• For some seniors, a $245 Plan G quote made high-deductible coverage look like the better option.
• In Florida, a 25% increase in Plan N prompted one Medicare enrollee to consider switching plans.
• At Humana, Basic Part D climbed from $4.40 to $28.30 a month, catching enrollees off guard.
• After Medicare sent a three-month premium bill, one enrollee charged it and searched for easier ways to pay.