Hello, I have some questions about Medicare premiums.
Of course. First, you should know that the law requires an adjustment to your monthly Medicare Part B medical insurance and Medicare prescription drug coverage premiums. This affects less than five percent of people with Medicare.
Could this mean that I have to pay a higher premium?
Yes, but most people don't pay higher premiums.
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I see. Well, what if I filed a federal income tax return for the year?
In that case you need to show us your signed copy of the return. Use Form Medicare Income-Related Monthly Adjustment Amount Life-Changing Event to report a major life-changing event.
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Does Medicare help me to pay for my prescribed drugs?
Yes. Medicare prescription drug coverage helps pay for your prescription drugs. The government pays a major portion of the total costs for this coverage, and the beneficiary pays the rest.
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Makes sense. What can you tell me about monthly Medicare premiums?
You should be aware that the standard Part B premium for 2020 is $ 144.60.
Are you single and filed an individual tax return, or married and filed a joint tax return?
No, sorry.
