Submitted By: someone
Answered: May 30, 2018 11:38 pm

How can I know whether I’ll be subject to the Medicare surcharge next year?

Medicare beneficiaries with modified adjusted gross income (MAGI) over a set amount ($85,000 for single individuals and $170,000 for married persons filing jointly) pay an additional Part B and Part D premium. MAGI in 2017 is what is used to determine whether there’s an additional premium in 2019. MAGI for this purpose means your adjusted gross income plus tax-exempt interest income.

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Tax Glossary

Fair market value

What a willing buyer would pay to a willing seller when neither is under any compulsion to buy or sell.

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