High-income earners--greater than $85,000 for individuals and $170,000 for couples yearly--pay progressively higher Part B premiums up to $335.70 per month. Part B has an annual deductible of $147 and co-pays of 20%, and a lifetime penalty for late enrollment. 鈥...
High-income earners must pay the Part D IRMAA whether they choose a Medicare Part D plan or a Medicare Advantage plan that includes prescription drug coverage. The Part D IRMAA is never paid to your insurance company and is usually deducted from your Social Security check. If you aren’t ...
There is a flat surtax of 3.8% on net investment income for married couples who earn more than $250,000 of adjusted gross income (AGI). For single filers, the threshold is just $200,000. Another example of the marriage penalty at work in our tax code. ...
Just some of my fan mail. The flood of mail started around September and hasn’t let up yet. I will turn 65 – the magical age for Medicare – in January and I’ve received at least two… or three… or more letters, brochures, and flyers a day begging me
4. High income earners pay more for Medicare If your income is above a certain threshold, you'll pay more for Parts B and D. Theseincome-related monthly adjustment amounts(IRMAA) are based on your adjusted gross income from two years earlier. In 2024, single filers with an adjusted gross...
Additionally, late-enrollment premium surcharges would be based on the premium amount of those not held harmless. Thus, those held harmless in 2016 who pay a late-enrollment penalty may still see reduced Social Security benefits as a result of the increased surcharges. ...