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 role does my tax return play in this?
Do you want to know how we determine your 2020 income-related monthly adjustment amounts?
Sure. Go ahead.
We use your most recent federal tax return the IRS provides to us. Generally, his information is from a tax return filed in 2019 for tax year 2018. Sometimes, the IRS only provides information from a return filed in 2018 for tax year 2017.
What if I amended my tax return?
In that case you should let us know. We count and it changes the income to determine the income-related monthly adjustment amounts your MAGI.
*doesn't make sense*
*doesn't make sense*
What would influence my income-related monthly adjustment amount?