Gladly. Do you wish to determine your 2020 income-related monthly adjustment amounts?
No, I wanted to know something else.
Are we using your 2017 tax year data?
Yes, you are.
If you filed a return for tax year 2018 or did not need to file a tax return for tax year 2018, call us or visit any local Social Security office. We'll update our records.
I see. Do my medicare premiums need to be adjusted?
Yes. 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 I earn a lot less now? I mean, my income has significantly dropped due to the current crisis.
In that case you should contact us to explain that you have new information and may need a new decision about your income-related monthly adjustment amount.
I'll put that on my list. So what should I do if I have a limited income?