Of course. The law requires an adjustment to your monthly Medicare Part B medical insurance and Medicare prescription drug coverage premiums. This affects less than five percent of people with Medicare. Most people don't pay higher premiums.
What if the deducted amount is greater than my monthly social security payment?
In that case you'll get a separate bill from another federal agency, such as the Centers for Medicare & Medicaid Services or the Railroad Retirement Board.
I see. And what are the monthly medicare premiums for 2020?
The standard Part B premium for 2020 is $ 144.60.
Are you single and filed an individual tax return, or married and filed a joint tax return?
No, to both.
What else can you tell me about my tax return?
Do you want to know how we determine your 2020 income-related monthly adjustment amounts?
Sure, why not?