Is Medicare going broke? We are going to look at one aspect of Medicare regarding the cost of services to provide some answers. Let me explain as I am a senior and it is my situation we are going to examine.
IRMAA stands for Income Related Modified Adjusted Amount. A government way of saying a surcharge or a fine for earning too much money according to Medicare.
Medicare is mainly for those over 65 or those that have been declared disabled by the Social Security Administration. COBRA is for those individuals who work for corporations with more than 20 employees and who have left their employer but still want the health insurance benefits.
Medicare Advantage plans could become the basis of providing universal health insurance under the guise of a small 20% increase in taxes