Seniors
Related: About this forumWe spent over 10 grand on uncovered medical expenses last year.
Working on our income taxes.
We're both on Medicare.
UNCOVERED EXPENSES
Medical
Physicians - $2341
Drugs - $514
Ins - $3064 Medicare Part B and D
$4121 Medicare supplement
Total Medical - $ 10,040
jeez
Hoyt
(54,770 posts)elleng
(136,080 posts)I'm very fortunate to have a good 'supplemental,' Federal Employees Health Benefits, but looking at statements I've received, Medicare has paid for most of the services I've received, and FEHB little. I've paid nothing out of pocket.
FEHB does have excellent drug coverage, and I do pay some out of pocket for RXs. Not at home now so can't say what my premium is; it's not unreasonable, but also not 'cheap.'
Curmudgeoness
(18,219 posts)if I were hit with that amount. I could probably weather it if it was only one year, but if this were normal, I would end up dead. Health care is the one thing that I worry about. I can handle all the rest.
canoeist52
(2,282 posts)We paid $8956. last year for medical care, including insurance through work, for two people.
We made $45000. in wages.
Losing ground fast.
Downwinder
(12,869 posts)Divernan
(15,480 posts)Don't forget to include your mileage, tolls, parking costs for all your trips for medical care, to pick up prescriptions at drug store, etc. Hearing aid batteries are also deductible, as well as mileage costs to drive to the store to buy them. The standard mileage for medical expenses is 23.5 cents per mile. My health insurance includes Medicare, Blue Cross/Blue Shield supplement and Long Term Care Insurance. You didn't mention dental costs/eyeglasses - don't forget those!
Also, for those of us who itemize deductions, note this change re medical deductions:
MEDICAL EXPENSES
Taxpayers will still be able to deduct their medical expenses, but it will be more difficult for many to qualify. The threshold for deducting medical expenses now stands at 10 percent of adjusted gross income, up from 7.5 percent. There's an exception, though, for those older than 65. For them, the old rate is grandfathered in until 2017.
http://www.csmonitor.com/Business/Latest-News-Wires/2014/0122/IRS.gov-New-tax-filing-changes-for-2014
So those of us over 65, can still use the 7.5 percent of AGI until 2017, but those under 65 with significant medical expenses got hit hard by this change.
And may I add it's a goddamn disgrace, and a telling measure of this country's pro-corporate priorities when you consider the varying mileage rates:
56 cents per mile for business miles driven
23.5 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
http://www.irs.gov/2014-Standard-Mileage-Rates-for-Business,-Medical-and-Moving-Announced