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How Do the Extra Medicare Premiums for High Earners Work?

June 19, 2017

From the Money website

Medicare beneficiaries whose income exceeds certain thresholds must pay more in monthly premiums for Part B doctor coverage and Part D drug coverage.

These income-adjusted premiums apply to single tax filers (and those married filing separately) with incomes of more than $85,000 and married couples filing jointly with incomes of more than $170,000. Fewer than 5% of Medicare beneficiaries have incomes above these thresholds and thus pay these higher rates, which are known as income related monthly adjustment amounts, or IRMAA.

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