MULTIZ321
TUG Member
- Joined
- Jun 6, 2005
- Messages
- 31,265
- Reaction score
- 8,993
- Points
- 1,048
- Location
- FT. LAUDERDALE, FL
- Resorts Owned
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BLUEWATER BY SPINNAKER HHI
ROYAL HOLIDAY CLUB RHC (POINTS)
Watch Out for this Medicare Part B Trap
By John Grobe/ Retirement/ FedSmith/ fedsmith.com
"If you’re 65 or over and have elected to enroll in Medicare Part B, you need to watch out for Irma. Actually, it’s IRMAA, which is short for Income Related Income Adjustment Amounts.
IRMAA can increase the amount you pay for Medicare Part B based on your income. The higher your income, the more you will pay in Part B premiums.
Your Medicare Part B premium (normally $134 a month for new enrollees in 2017) could be as high as $428.60 per month if your Modified Adjusted Gross Income (MAGI) is above a certain level. MAGI can be higher than your AGI (adjusted gross income), or it could be the same – it won’t be lower...."
Richard
By John Grobe/ Retirement/ FedSmith/ fedsmith.com
"If you’re 65 or over and have elected to enroll in Medicare Part B, you need to watch out for Irma. Actually, it’s IRMAA, which is short for Income Related Income Adjustment Amounts.
IRMAA can increase the amount you pay for Medicare Part B based on your income. The higher your income, the more you will pay in Part B premiums.
Your Medicare Part B premium (normally $134 a month for new enrollees in 2017) could be as high as $428.60 per month if your Modified Adjusted Gross Income (MAGI) is above a certain level. MAGI can be higher than your AGI (adjusted gross income), or it could be the same – it won’t be lower...."
Richard