You could answer a few questions I have about my tax return. That'd be very kind.
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Of course. Do you want to know how we determine your 2020 income-related monthly adjustment amounts?
No, thank you.
Do we use the 2017 tax data for you?
No, you have more recent tax data about me.
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What if you determine that I'm a higher-income beneficiary?
Then you'll pay a larger percentage of the total cost of Part B based on the income you normally report to the Internal Revenue Service IRS.
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What if I disagree with the MAGI amount from the IRS?
Then you must correct the information with the IRS.
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Makes sense. Well, how high are the monthly part B premiums going to be?
You'll pay monthly Part B premiums equal to 35, 50, 65, 80, or 85 percent of the total cost, depending on what you report to the IRS.
