Surprise, surprise. Some 2012 Medicare Part B premiums are less than they were in 2011.
For those enrolling in Medicare in 2012, you will pay the standard Medicare Part B premium of $99.90 per month (a $15.50 decrease from those who enrolled in 2011) unless your modified adjusted gross income is greater than:
- $85,000 for single filers
- $170,000 for joint filers
2012 Medicare Part B Premiums for High Incomes
For those with incomes that exceed the limits above (which is less than 5 percent of people with Medicare) refer to the table below to determine what your 2012 Medicare Part B premium will be:$139.90 monthly Medicare Part B premium applies to:
- Singles with income between $85,001 and $107,000
- Joint filers with income between $170,001 and $214,000
- Singles with income between $107,001 and $160,000
- Joint filers with income between $214,001 and $320,000
- Singles with income between $160,001 and $214,000
- Joint filers with income between $320,000 and $428,000
- Singles with income greater than $214,000
- Joint filers with income greater than $428,000
How Does Medicare Define Your Income When Determining Your Medicare Part B Premium?
The income used in determining your Medicare Part B premium is taken from income reported two years ago on your IRS income tax return.
The Internal Revenue Service supplies your tax filing status, your adjusted gross income, and your tax-exempt interest income to the Social Security Administration to determine this.
The Social Security Administration will add your adjusted gross income together with your tax-exempt interest income to get an amount called the modified adjusted gross income (MAGI).This number is used to determine your Medicare Part B premium.
-All information above from the Answers section of the Medicare website.