2016 Medicare Part B Premiums
Remember that the 2016 Medicare Modified Adjusted Gross Income (MAGI) brackets are based on the tax return two years in arrears, which is 2014.
Approximately 30% of current Medicare beneficiaries will not be held harmless.
Here is a hold harmless checklist:
• Not collecting Social Security benefits in November and December 2015.
• Not paying Medicare Part B premiums as a deduction from Social Security benefits from November 2015 through January 2016.
• Currently paying or will be paying in 2016 a Medicare Part B IRMAA.
• Enrolling in Medicare Part B effective Jan. 1, 2016 or after.