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I am posting for a household good friend. Regardless of my very own analysis, I am in method over my head and thought I might ask Reddit! (Crossposted /SocialSecurity):
*Modifying for readability/TLDR: Their Medicare Half D and B are paid by the state and are *income-based (I believe). So ought to they simply cancel them with out notifying SSA of the payout quantity? They’re anxious about discovering an Benefit and Prescription drug plan at 62 in OH (I am sorry for any confusion!)
“I’m receiving SSDI and obtained a life insurance coverage payout of 20,000.00. I’m involved about shedding medicare half D for prescriptions. I’ve a large number of them. Some are over $3000.00 a month. I’m 62 years outdated. I have been handled for most cancers and different illnesses. I dwell in OH and I haven’t got secondary insurance coverage. My query is do I cancel my medicare half D and notify SSA of the quantity of the payout or can I simply cancel the medicare half D and never report the payout quantity. Additionally my medicare premium, half B is paid by the state, can I cancel that with out reporting the payout quantity. I’m not making an attempt disguise any assets, I simply do not need to report something I haven’t got to. Thanks for any strategies you might have.”
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