Wednesday, November 25, 2015

Medicare B Premiums for 2016

The base Medicare Part B monthly premiums increase to $121.80/per month for 2016.

Approximately 75% of taxpayers on Medicare B will NOT experience this increase.  There is a provision that does not permit a taxpayer’s Social Security check to decrease as a result of an increase in the base Medicare Part B premiums.

Taxpayers who will pay these higher premiums are taxpayers who:
1) First sign up for Medicare in 2016,
2) Are paying Medicare Part B premiums from a method OTHER than directly from their Social Security check, or
3) Have the higher income that requires paying extra to the Medicare fund, and

The higher premiums some taxpayers have to pay vary depending on the taxpayers’ income as shown on their income tax returns and their filing status increased slightly, although the income levels did not change.

This information can be found on Medicare’s web site at

This text has been shared with you courtesy of: David & Mary Mellem, EAs & Ashwaubenon Tax Professionals, 920-496-1065 (fax 920-496-9111).

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