What is IRMAA? For high-income Medicare beneficiaries, Part B and Part D premiums include an additional charge based on your modified adjusted gross income, the income-related monthly adjusted amount (IRMAA). There is no surcharge or Part A for anyone. But people with high incomes (in 2023...
“Yes. Elizabeth Fowler, the head of CMMI, served in the Obama administration. She was the advisor to Senator Max Baucus and she wrote the Affordable Care Act. In the Affordable Care Act, she created this Innovation Center through which the privatization is occurring. And now she is the dir...
Inflation Rebate=Total Units*Max(Actual Price-Inflation Adjusted Benchmark,0) Figure 7 illustrates the inflation rebate dynamics. A few additional highlights: Inflation rebates would apply to all drugs covered by Medicare Parts B and D, and would extend to the commercial market (e.g., employe...
Getting ready for the Medicare tax on investment incomeThere are few certainties for year-end tax planning this year, but if you're a wealthy investor there is one sure thing — the new Medicare tax, slated to begin in 2013.
But, just as there’s a cap on earnings subject to Social Security tax each year (it’s $160,200 for the 2023 tax year), there’s also a maximum monthly Social Security benefit. In 2022, that max was $3,345 if you start drawing at your FRA. See the chart below for a rundown ...
But, just as there’s a cap on earnings subject to Social Security tax each year (it’s $160,200 for the 2023 tax year), there’s also a maximum monthly Social Security benefit. In 2022, that max was $3,345 if you start drawing at your FRA. See the chart below for a rundown ...