Turning age 65 brings opportunities and responsibilities that can be confusing and difficult to understand. With Social Security benefits and Medicare, several decisions need to be made:
What's Important in 2020
Top 5 Medicare Myths
When & how to sign up for Part A & Part B
Medicare Vs. Medicaid
Medicare Supplement Enrollments Vary By States (article)
Medicare Hospice Benefits
Medicare at Age 65
How to reduce your Part B cost if you have a reduction of income
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The income-related monthly adjustment amount (IRMAA) sliding scale is a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug coverage premiums. The higher the beneficiary’s range of modified adjusted gross income (MAGI), the higher the IRMAA. There are three sets of tables. Use the beneficiary’s tax filing status when using the table.
The IRMAA screens contain a calculator that takes all the IRMAA determination factors such as filing status, sliding scale, and premium year into account to provide an estimate to the beneficiary upon request. (See Income Related Monthly Adjustment Amount Calculator (IRCA)) MS T2PE 008.013.
Married filing separately tax filing status
|If MAGI in 2018 (or 2017 if 2018 is not available) was:||Then the Part B Premium* is:||Prescription Drug Coverage Premium** is:|
|More than $87,000 but less than $413,000
Greater than or equal to $413,000
|$70.00 + Plan premium
$76.40 + Plan Premium