In that situation, the law requires an adjustment to your monthly Medicare Part B medical insurance and Medicare prescription drug coverage premiums.
How high does my income have to be?
If you file your taxes as married, filing jointly and your MAGI (total adjusted gross income and tax-exempt interest income) is greater than $170,000, you'll pay higher premiums for your Part B and Medicare prescription drug coverage.
What income ranges exist?
Are you a high income earner?
Yes.
In that case, you'll pay an additional premium amount for Medicare Part B and Medicare prescription drug coverage. We call the additional amount the income-related monthly adjustment amount.
I'd like to know if there is specific period on when I should enroll in income-related monthly adjustment?
Do you have medical insurance already?
Yes, through my work.
If that's the case, you may qualify for a special enrollment period.
Can I apply for Medicare when I turn 65?