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What Makes Medicare Different for Everyone?
June 1, 2022
One of the ways that Medicare can be different for some is with the cost of the Medicare Part B premium. The Part B premium has a standard rate. If you have a higher income, you will pay an Income Related Monthly Adjusted Amount, also known as an IRMAA. Most people will pay the standard rate. However, if your modified adjusted gross income that was reported on your tax return from two years ago is above a certain amount, you will pay the standard rate plus the IRMAA. If you do not pay your IRMAA you could lose your Medicare coverage.
This amount generally changes every year. You can find the current IRMAA amounts on the Social Security website.
Medicare Part D and IRMAA
Medicare Part D is also subject to the IRMAA depending on your income, again from your reported income from two years ago. You will pay the IRMAA in addition to your Medicare Part D premium, whether you have a stand-alone Part D or a Medicare Advantage Plan with Part D.
The Part D IRMAA is paid directly to Medicare and not to your plan or employer. If you do not pay the Part D IRMAA, you will lose your Part D prescription coverage.
If your income has gone down, depending on specific circumstances, you may be able to get a new decision about your IRMAA.
If you are subject to an IRMAA, you will receive a notice from Social Security.
Medicare Late Enrollment Penalty (LEP)
Another way Medicare can be different for some is if they have a Late Enrollment Penalty (LEP) on their Medicare Part B premium. In most cases, this penalty will be for the rest of the time that you have Medicare. This is not a one-time penalty. If you have Medicare due to disability, your penalty will go away when you turn 65.
How is the Part B penalty calculated? For each 12-month period that you delay Part B enrollment you will have to pay a 10% premium penalty unless you are eligible for the Medicare Savings Program (MSP) or you have active job-based insurance through yourself or your spouse with more than 20 employees.
There is also a penalty for a late enrollment in a Medicare Part D plan. If you delay enrollment, you will pay a LEP of 1%, of the national base premium, in addition to your Part D plan premium. The national base premium changes every year and currently for 2021, it is $33.06. This penalty is assessed for every month that you went without a Medicare Part D or creditable coverage. Creditable coverage is coverage that is as good as or better than the Medicare Part D coverage. If you receive assistance through Social Security’s Extra Help Program, also known as LIS (Low Income Subsidy), have creditable drug coverage or prove that you received inadequate information about your drug coverage being creditable, you may not have to pay the LEP.
Like the Part B LEP, this is not a one-time penalty. The LEP for Part D, is also a penalty that you will have for as long as you have Medicare. If you are under 65 and have Medicare due to disability your LEP will go away when you turn 65.
Medicare for Those Under 65 with Disability
How does Medicare coverage for those under 65 with a disability work? Like the Initial Enrollment for a person eligible due to turning 65, there is a seven-month period to enroll in Medicare. The difference is that the enrollment period for those on disability surrounds the 25th month of disability. You will automatically receive your Medicare card and packet three months before your 25th month of disability. Your effective date will be the 1st of the month, that is your 25th month of disability. Generally, you should not delay Medicare Part B unless you have job-based insurance that pays secondary to Medicare (employer insurance with more than 20 employees). If you delay without job-based insurance as previously mentioned, you may incur a penalty. If you do not receive your card and packet, contact Social Security.
Railroad Retirement
Another scenario where Medicare will be different for some is those with Railroad Retirement. When a person who is receiving Railroad Retirement benefits becomes eligible for Medicare, instead of enrolling in Medicare through Social Security their enrollment will be processed through the Railroad Retirement Board (RRB). They would be automatically enrolled in Medicare Parts A & B.
If the person is not collecting Railroad Retirement benefits when turning 65, they should contact the Railroad Retirement Board (RRB) to enroll. The RRB will collect the Medicare premiums and the Medicare Part B premium should be automatically deducted from their monthly check. Additionally, the doctor’s and providers will send claims to the Railroad Medicare Part B Claims Contractor selected by the RRB. It is important to make providers aware that the Medicare is Railroad Medicare. The Medicare card will look different. It will have RAILROAD RETIRMENT BOARD labeled at the bottom of the card and an insignia at the top left, for the RRB. Finally, if you are under 65 and disabled, you will have different eligibility criteria depending on how the RRB classifies your disability.
For additional information go to www.rrb.gov or reach out to Simco.
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The future of work is changing fast, and HR leaders are taking notice. More than half of companies are planning to switch their HCM platform this year—but not just for any solution. They’re looking for intelligent, scalable, and AI-driven technology that doesn’t just process payroll but actively enhances business operations. The days of rigid, outdated systems are over. Now, businesses need platforms that adapt, automate, and evolve alongside them. At Simco, we’re passionate about delivering the most advanced, transformative solutions to our clients. That’s why we’ve partnered with isolved, a recognized leader in the HCM space, to provide our clients with a powerful, AI-enabled platform that makes workforce management effortless. With a focus on automation, predictive analytics, and employee experience, isolved is changing the game for small and mid-sized businesses—and we’re here to help you make the most of it. Why isolved Stands Out in the HCM Market For the second consecutive year, Nucleus Research has named isolved a leader in its HCM Value Matrix for Small and Medium-Sized Businesses (SMBs). The firm’s analysis highlights isolved’s enterprise-grade functionality, designed specifically for SMBs looking to streamline operations, enhance compliance, and leverage AI to drive efficiency. isolved’s adaptability ensures it evolves alongside customer needs. Whether an organization’s HR function matures or its priorities shift, isolved is uniquely positioned to support its success through continuous innovation. In 2024, the company launched 480+ product enhancements directly driven by direct customer feedback. Nucleus Research’s report also highlights several key updates, including: isolved's Candidate Match Tool , an AI-powered feature that evaluates and ranks candidates, streamlining the hiring process. Enhanced Talent Acquisition Services , including recruitment process outsourcing (RPO), job placement assistance, and comprehensive hiring solutions for quick-service restaurants (QSRs). A Broadened Content Library, now with over 95,000 courses designed for employee training, compliance, and professional development. A Next-Gen Time Clock , featuring advanced facial recognition and remote access for secure and accurate time tracking. The Power of Partnership: Simco + isolved While technology is the foundation, the real value comes from how it’s applied. At Simco, we don’t just provide software—we offer a full-service HCM and advisory solution, ensuring that all aspects of workforce management integrate seamlessly. Our clients benefit from: A Dedicated Client Success Manager – Your go-to resource who oversees your relationship with Simco, ensuring that every service—HCM, HR advisory, benefits, insurance, and retirement—works together without gaps. A Fully Integrated HCM & Advisory Solution – No need to juggle multiple vendors for payroll, HR advisory, employee benefits, commercial insurance, and 401(k)/retirement plans. Simco is your one-stop shop for all workforce solutions. Strategic Guidance & Ongoing Optimization – We help businesses maximize their investment in HCM technology while aligning it with compliance, employee engagement, and long-term growth goals. As businesses evolve, so do their workforce management needs. By combining isolved’s leading-edge technology with Simco’s hands-on service and industry expertise, we help businesses stay ahead of change, improve efficiency, and create better employee experiences. Ready to explore the future of HCM? Contact us today to learn more about how we can transform your workforce operations!
Cybercriminals continue to evolve their tactics, making phishing attacks more sophisticated and harder to detect. Every day, countless phishing emails reach inboxes, often with the intent to steal sensitive information or spread malware. Unfortunately, many of these attacks succeed in just a matter of seconds— the median time for users to fall for phishing emails is less than 60 seconds according to the 2024 Verizon Data Breach Investigations Report . With stolen credentials being one of the most popular methods of attack, businesses face increasing risks as these types of cyber threats become more complex and dangerous. How Phishing and Spoofed Domains Work Phishing attacks aim to trick employees into revealing sensitive information, often through: Fraudulent Email Links – These emails appear to be from trusted sources but contain malicious links that install malware or steal login credentials. Look-Alike Domains – Hackers create fake websites that resemble real business portals, altering a single character in the domain (e.g., “micr0soft.com” instead of “microsoft.com”). Credential Theft – Once hackers obtain login credentials, they sell them on the dark web, leading to widespread data breaches. Red Flags: How to Identify a Phishing Email Unusual Sender Addresses – Cybercriminals often spoof email addresses to look like trusted sources. Carefully inspect the sender's domain name for typos, extra characters, or strange formatting. A genuine email from "paypal.com" could be faked as "paypall.com" or "paypal-support.com." Urgent or Threatening Language – Many phishing emails attempt to create a sense of urgency, claiming that an account will be suspended, a payment has failed, or legal action is imminent. If an email pressures you into immediate action, be suspicious. Unexpected Attachments or Links – Hover over hyperlinks before clicking to see the actual URL destination. If the web address looks unfamiliar or mismatched with the sender's identity, do not click. Similarly, attachments that appear out of context—especially ZIP files, PDFs, or Word documents—could contain malware. Requests for Sensitive Information – Legitimate organizations will never ask for passwords, Social Security numbers, or banking details via email. If an email requests confidential information, verify with the company directly using a trusted phone number. Generic Greetings or Poor Grammar – Emails that start with “Dear Customer” instead of your name, or those containing awkward phrasing and misspellings, often indicate phishing attempts. Many cybercriminals operate internationally and use machine translations, leading to unnatural wording. Best Practices to Protect Your Business Train Employees Regularly – Frequent security awareness training helps employees recognize phishing attempts. Past studies by Proofpoint show that companies with ongoing cybersecurity training reduce phishing-related breaches by up to 60%. Implement simulated phishing tests to reinforce learning. Enable Multi-Factor Authentication (MFA) – MFA significantly decreases the chances of an account being compromised, even if login credentials are stolen. Microsoft reports that MFA can block over 99% of automated cyberattacks . Ensure all employees activate MFA for business accounts. Verify Requests Independently – If an email asks for sensitive actions (e.g., wire transfers, login changes, or software downloads), confirm the request through a known and trusted contact method. Never use the phone number or link provided in the email —instead, visit the company's official website or call using a verified number. Monitor and Filter Emails – Implement robust email security tools that automatically flag suspicious messages. Advanced filtering systems, like those offered by Barracuda Networks, can block over 90% of phishing emails before they reach inboxes. Encourage a Report-First Culture – Employees should feel empowered to report suspicious emails even if they are unsure. IT teams can analyze these reports to strengthen cybersecurity measures. Early detection prevents widespread damage. Use a Password Manager – Employees often reuse passwords across multiple accounts, increasing security risks. Encourage the use of password managers like 1Password or LastPass to generate and store complex passwords securely. New Tactic: The Rise of QR Code Phishing ("Quishing") QR code phishing, or "quishing," is a new phishing tactic gaining momentum as attackers exploit the widespread use of QR codes. Unlike traditional phishing, which relies on malicious email links, quishing uses QR codes to redirect users to fake websites designed to steal login credentials. Several factors contribute to quishing's success: Ubiquity : QR codes are now commonly used for payments, tickets, and documents, reducing suspicion when they appear in emails. Minimal Text : Unlike traditional phishing emails, quishing messages often contain little text, making them harder for security systems to flag. Mobile Vulnerability : QR codes are scanned on personal devices, which typically lack the protection of corporate systems. According to Abnormal Security , 90% of quishing attacks involve credential phishing , where users are tricked into entering sensitive data. Another common tactic is using fraudulent MFA alerts, which account for 27% of attacks , while 21% involve fake document-signing requests . Final Thoughts At the end of the day, protecting your company from phishing and cyber threats requires more than just technology—it’s about the people behind it. By fostering a culture of awareness and encouraging open communication, you empower your employees to be the first line of defense. Together, with vigilance and the right tools in place, you can ensure the safety of your sensitive data and build a more secure future for your business.
Employee Appreciation Day, which falls on March 7th this year, is an ideal occasion to express gratitude for the hard work and dedication of your employees. At Simco, we recognize that employee appreciation shouldn’t be limited to just one day, but this day presents a special opportunity to go above and beyond in showing your team how much they mean to the success of your organization. When employees feel recognized and valued, it enhances morale, engagement, and ultimately, productivity. Here are several thoughtful and impactful ways to celebrate Employee Appreciation Day, creating lasting positive effects for both your employees and your company. 1. Personalized Appreciation Nothing shows employees you truly value them more than personalized recognition. Tailor your appreciation efforts to each individual, acknowledging their unique contributions and the impact they’ve made. Personalized gestures help employees feel recognized for the specific work they’ve done, making the appreciation feel authentic and meaningful. You can: Write Personalized Thank-You Notes : Take the time to write handwritten notes to your employees, thanking them for their specific achievements and how they contribute to the company’s overall success. Publicly Acknowledge Contributions : During a company meeting or via a group email, recognize each team member's individual contributions, celebrating their efforts with concrete examples. Employee Spotlights : Feature standout employees in your internal newsletter or on social media to highlight their unique strengths and hard work. 2. Host an Engaging Celebration Employee Appreciation Day is an excellent time to host a celebration that brings everyone together, whether virtually or in person. A well-planned event can boost morale and provide a chance for employees to connect with one another outside of their usual work routines. Ideas for celebration include: Catered Meals or Special Treats : Provide lunch, snacks, or a special treat to make the day feel celebratory. A fun lunch or dessert bar can offer an opportunity for employees to mingle and bond. Themed Events : Host a fun, themed event such as a retro office party or a “thank you” happy hour where employees can unwind and enjoy themselves. Virtual Celebration : For remote or hybrid teams, set up a virtual event like a game or trivia session where employees can engage and laugh together. 3. Offer Tangible Tokens of Appreciation While a simple thank-you is powerful, offering a meaningful gift can take employee appreciation to the next level. Thoughtful rewards can show your team that you not only recognize their hard work but are also willing to invest in their well-being. Consider: Gift Cards : Offer gift cards to popular retailers, restaurants, or online stores, allowing employees to pick out something they personally enjoy. Wellness Incentives : Gifts that promote health and wellness—such as fitness trackers, yoga classes, or access to mental health resources—show employees you care about their overall well-being. Company Merchandise : High-quality, branded merchandise like apparel, accessories, or tech gadgets can serve as a lasting reminder of your appreciation. 4. Invest in Professional Development One of the most meaningful ways to honor your employees is by helping them grow professionally. Employee Appreciation Day is a great time to invest in their future, whether through formal training, new opportunities, or fostering leadership skills. Ways to offer growth opportunities include: Learning Stipends : Offer financial support for employees to pursue further education, certifications, or online courses that align with their career goals. Internal Development Programs : Launch mentorship initiatives or leadership programs that enable employees to expand their skill sets within the organization. Growth Opportunities : Encourage employees to explore new roles or responsibilities that align with their career aspirations, reinforcing your commitment to their long-term success. 5. Encourage Peer Recognition Employee appreciation doesn’t have to be a one-way street from management to employees. Encouraging peer-to-peer recognition helps build a strong team culture, where employees feel supported and valued by their colleagues as well. This helps foster camaraderie and teamwork, which benefits the entire organization. Ideas for peer recognition: Peer-to-Peer Appreciation Platforms : Create an internal platform where employees can nominate or thank their colleagues for their contributions, highlighting specific ways they've gone above and beyond. Recognition Wall : Set up a virtual or physical wall where employees can post messages of appreciation for their peers, encouraging a culture of gratitude. Monthly Recognition : Implement a peer-nominated “Employee of the Month” program to recognize and reward employees for their ongoing contributions. 6. Give Back Employee Appreciation Day also provides an opportunity to show gratitude by giving back to the community. Many employees value working for companies that have a strong sense of corporate social responsibility. By organizing a charitable event or initiative, you demonstrate that your organization cares about making a positive difference beyond the workplace. Ideas for giving back include: Company Volunteer Days : Organize a day of service where employees can volunteer at a local charity or nonprofit, allowing them to contribute to causes they care about while bonding with their colleagues. Matching Donations : Offer to match employee donations to their favorite charities, demonstrating that you support their personal values and causes. Charitable Fundraising Events : Host fundraising activities or auctions with proceeds going to a charitable organization chosen by the team. 7. Seek Feedback Finally, a key part of showing appreciation is listening to your employees and gathering feedback on how they feel valued. Employee Appreciation Day offers the perfect occasion to ask for input on what makes them feel appreciated and what could be improved. This helps ensure that future efforts are even more meaningful. Ways to gather feedback: Anonymous Surveys : Send out a survey asking employees what makes them feel most appreciated and if they have any suggestions for improving recognition practices. One-on-One Check-ins : Arrange individual meetings with employees to hear their thoughts on workplace culture and recognition, providing an opportunity for honest feedback. Cultivating a Culture of Appreciation Year-Round Employee Appreciation Day is a special occasion, but the benefits of recognizing your team should last well beyond this single day. When employees feel consistently valued and appreciated, it leads to higher morale, greater job satisfaction, and increased engagement. By investing in recognition efforts, offering meaningful rewards, and fostering a culture of appreciation, you ensure that your team remains motivated, happy, and productive all year long. At Simco, we believe that lifting and supporting employees is integral to creating a thriving workplace. Whether you celebrate Employee Appreciation Day with gifts, events, or personalized recognition, taking the time to show gratitude is a small gesture that can have a lasting impact on both your employees and your business.
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The future of work is changing fast, and HR leaders are taking notice. More than half of companies are planning to switch their HCM platform this year—but not just for any solution. They’re looking for intelligent, scalable, and AI-driven technology that doesn’t just process payroll but actively enhances business operations. The days of rigid, outdated systems are over. Now, businesses need platforms that adapt, automate, and evolve alongside them. At Simco, we’re passionate about delivering the most advanced, transformative solutions to our clients. That’s why we’ve partnered with isolved, a recognized leader in the HCM space, to provide our clients with a powerful, AI-enabled platform that makes workforce management effortless. With a focus on automation, predictive analytics, and employee experience, isolved is changing the game for small and mid-sized businesses—and we’re here to help you make the most of it. Why isolved Stands Out in the HCM Market For the second consecutive year, Nucleus Research has named isolved a leader in its HCM Value Matrix for Small and Medium-Sized Businesses (SMBs). The firm’s analysis highlights isolved’s enterprise-grade functionality, designed specifically for SMBs looking to streamline operations, enhance compliance, and leverage AI to drive efficiency. isolved’s adaptability ensures it evolves alongside customer needs. Whether an organization’s HR function matures or its priorities shift, isolved is uniquely positioned to support its success through continuous innovation. In 2024, the company launched 480+ product enhancements directly driven by direct customer feedback. Nucleus Research’s report also highlights several key updates, including: isolved's Candidate Match Tool , an AI-powered feature that evaluates and ranks candidates, streamlining the hiring process. Enhanced Talent Acquisition Services , including recruitment process outsourcing (RPO), job placement assistance, and comprehensive hiring solutions for quick-service restaurants (QSRs). A Broadened Content Library, now with over 95,000 courses designed for employee training, compliance, and professional development. A Next-Gen Time Clock , featuring advanced facial recognition and remote access for secure and accurate time tracking. The Power of Partnership: Simco + isolved While technology is the foundation, the real value comes from how it’s applied. At Simco, we don’t just provide software—we offer a full-service HCM and advisory solution, ensuring that all aspects of workforce management integrate seamlessly. Our clients benefit from: A Dedicated Client Success Manager – Your go-to resource who oversees your relationship with Simco, ensuring that every service—HCM, HR advisory, benefits, insurance, and retirement—works together without gaps. A Fully Integrated HCM & Advisory Solution – No need to juggle multiple vendors for payroll, HR advisory, employee benefits, commercial insurance, and 401(k)/retirement plans. Simco is your one-stop shop for all workforce solutions. Strategic Guidance & Ongoing Optimization – We help businesses maximize their investment in HCM technology while aligning it with compliance, employee engagement, and long-term growth goals. As businesses evolve, so do their workforce management needs. By combining isolved’s leading-edge technology with Simco’s hands-on service and industry expertise, we help businesses stay ahead of change, improve efficiency, and create better employee experiences. Ready to explore the future of HCM? Contact us today to learn more about how we can transform your workforce operations!
Cybercriminals continue to evolve their tactics, making phishing attacks more sophisticated and harder to detect. Every day, countless phishing emails reach inboxes, often with the intent to steal sensitive information or spread malware. Unfortunately, many of these attacks succeed in just a matter of seconds— the median time for users to fall for phishing emails is less than 60 seconds according to the 2024 Verizon Data Breach Investigations Report . With stolen credentials being one of the most popular methods of attack, businesses face increasing risks as these types of cyber threats become more complex and dangerous. How Phishing and Spoofed Domains Work Phishing attacks aim to trick employees into revealing sensitive information, often through: Fraudulent Email Links – These emails appear to be from trusted sources but contain malicious links that install malware or steal login credentials. Look-Alike Domains – Hackers create fake websites that resemble real business portals, altering a single character in the domain (e.g., “micr0soft.com” instead of “microsoft.com”). Credential Theft – Once hackers obtain login credentials, they sell them on the dark web, leading to widespread data breaches. Red Flags: How to Identify a Phishing Email Unusual Sender Addresses – Cybercriminals often spoof email addresses to look like trusted sources. Carefully inspect the sender's domain name for typos, extra characters, or strange formatting. A genuine email from "paypal.com" could be faked as "paypall.com" or "paypal-support.com." Urgent or Threatening Language – Many phishing emails attempt to create a sense of urgency, claiming that an account will be suspended, a payment has failed, or legal action is imminent. If an email pressures you into immediate action, be suspicious. Unexpected Attachments or Links – Hover over hyperlinks before clicking to see the actual URL destination. If the web address looks unfamiliar or mismatched with the sender's identity, do not click. Similarly, attachments that appear out of context—especially ZIP files, PDFs, or Word documents—could contain malware. Requests for Sensitive Information – Legitimate organizations will never ask for passwords, Social Security numbers, or banking details via email. If an email requests confidential information, verify with the company directly using a trusted phone number. Generic Greetings or Poor Grammar – Emails that start with “Dear Customer” instead of your name, or those containing awkward phrasing and misspellings, often indicate phishing attempts. Many cybercriminals operate internationally and use machine translations, leading to unnatural wording. Best Practices to Protect Your Business Train Employees Regularly – Frequent security awareness training helps employees recognize phishing attempts. Past studies by Proofpoint show that companies with ongoing cybersecurity training reduce phishing-related breaches by up to 60%. Implement simulated phishing tests to reinforce learning. Enable Multi-Factor Authentication (MFA) – MFA significantly decreases the chances of an account being compromised, even if login credentials are stolen. Microsoft reports that MFA can block over 99% of automated cyberattacks . Ensure all employees activate MFA for business accounts. Verify Requests Independently – If an email asks for sensitive actions (e.g., wire transfers, login changes, or software downloads), confirm the request through a known and trusted contact method. Never use the phone number or link provided in the email —instead, visit the company's official website or call using a verified number. Monitor and Filter Emails – Implement robust email security tools that automatically flag suspicious messages. Advanced filtering systems, like those offered by Barracuda Networks, can block over 90% of phishing emails before they reach inboxes. Encourage a Report-First Culture – Employees should feel empowered to report suspicious emails even if they are unsure. IT teams can analyze these reports to strengthen cybersecurity measures. Early detection prevents widespread damage. Use a Password Manager – Employees often reuse passwords across multiple accounts, increasing security risks. Encourage the use of password managers like 1Password or LastPass to generate and store complex passwords securely. New Tactic: The Rise of QR Code Phishing ("Quishing") QR code phishing, or "quishing," is a new phishing tactic gaining momentum as attackers exploit the widespread use of QR codes. Unlike traditional phishing, which relies on malicious email links, quishing uses QR codes to redirect users to fake websites designed to steal login credentials. Several factors contribute to quishing's success: Ubiquity : QR codes are now commonly used for payments, tickets, and documents, reducing suspicion when they appear in emails. Minimal Text : Unlike traditional phishing emails, quishing messages often contain little text, making them harder for security systems to flag. Mobile Vulnerability : QR codes are scanned on personal devices, which typically lack the protection of corporate systems. According to Abnormal Security , 90% of quishing attacks involve credential phishing , where users are tricked into entering sensitive data. Another common tactic is using fraudulent MFA alerts, which account for 27% of attacks , while 21% involve fake document-signing requests . Final Thoughts At the end of the day, protecting your company from phishing and cyber threats requires more than just technology—it’s about the people behind it. By fostering a culture of awareness and encouraging open communication, you empower your employees to be the first line of defense. Together, with vigilance and the right tools in place, you can ensure the safety of your sensitive data and build a more secure future for your business.
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