Quote:
Originally Posted by stevej37
^^^conversely....does the cost go down if you lost money??
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The standard Part B premium amount in 2022 is $170.10 per person. Most people pay the standard Part B premium amount. If your modified adjusted gross income (MAGI) as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium. The total Part B Premium plus IRMAA can be as much as $578.30 per person depending on that MAGI of two years earlier (or 13,879.20 per year for a couple). MAGI includes investment income, retirement income, disbursements from 401K, etc.
If your gross income comes down, your premium then goes down the year following the tax return that shows that is the case (to as low as to $170.10 per person).
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