Enhanced Medicare Thresshold

[Nashville]

I've noticed some of my older and wealthier clients are having more withdrawn from their SS check for medicare. Some of them SUBSTANTIALLY more.

I'm sure there is a criteria for charging wealthier people more than others for medicare premiums. Is there a chart somewhere on a website?

One of my clients is struggling with s.179, SEP payments, and other things that can reduce taxable income, because he fears having to pay these enhanced medicare premiums...

[jimmcg]

Med B

Good chart re med b costs (including additional costs for higher incomes) at medicare.gov

[Lion]

TTB 22-4, but there has been some recent legislation, so check updates, too.

[Nashville]

"Modified" AGI

Thanks jimmg, but nowhere on the site that is easy to find does it define what "modified" AGI really is. I hope nothing I'm trying to do convolutes the so-called "modifications" they will make...

[kathyc2]

Thanks jimmg, but nowhere on the site that is easy to find does it define what "modified" AGI really is. I hope nothing I'm trying to do convolutes the so-called "modifications" they will make...

MAGI for premium purposes is AGI plus tax exempt interest.

[Lion]

2016 Medicare Part B Premiums are based on 2014 AGI + tax-exempt income.

In addition, some of us will never revert back to the "Held Harmless" level after increasing: new retirees in 2016, those who receive Medicare but not yet Social Security, low-income seniors also on Medicaid, and retirees based on their income.

Thresholds for Single are
$85,000 or less
$85,001
$107,001
$160,001
Above $214,000

See Centers for Medicare and Medicaid Services.