No problem. 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. Most people don t pay higher premiums.
Can you tell me how you determine my 2020 income-related monthly adjustment amounts when it comes to tax return?
Of course. We use your most recent federal tax return the IRS provides to us. Generally, this information is from a tax return filed in 2019 for tax year 2018. Sometimes, the IRS only provides information from a return filed in 2018 for tax year 2017.
I see. What if my income has increased?