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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 37006
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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537307075 Received letter dated Nov. 25,2015 that has a

Customer Question

Received letter dated Nov. 25,2015 that has a deduction for Medicare premium of $121.80. My question, is this amount based on 2014 AGI? My AGI for 2014 was $181,105 and chart in letter states IRMAA is $48.70 not $121.80. Please advise which number is *****
Submitted: 1 year ago.
Category: Social Security
Expert:  LawTalk replied 1 year ago.

Good afternoon,

I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today. In order to give you a clear and concise answer, I will need some additional information about the circumstances, please.

1. No Medicare Part B is only $48.70. Are you saying that they way you read the chart the increase over the base cost is an additional $48.70?

2. In 2014 did you file Head of Household, jointly or separate?

Doug

Customer: replied 1 year ago.
I filed 2014 as head oh household. The letter states my 2016 benefit is $2,439.50 less part B premium of $121.80 and $48.70. Another deduction for prescription drugs of $12.70. Leaving monthly payment of $2256.30.
Expert:  LawTalk replied 1 year ago.

Good afternoon,

Your premium is not based on your AGI, but your MAGI (Modified Adjusted Gross Income). I can't determine what chart you are looking at. Here is the chart from social security to determine 2016 Part B premiums based on income from 2014: https://secure.ssa.gov/poms.nsf/lnx/0601101020

And here is the complex calculation to determine your MAGI: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Passive-Activity-Loss-ATG-Exhibit-2-2-Modified-Adjusted-Gross-Income-Computation

I suspect after you determine your MAGI you'll find that the social security premium is likely correct.

Doug