Changes to income-related Medicare premiums

The law includes two important changes in the premiums for people with higher incomes. Currently, you pay a higher premium for Medicare Part B if your income is above a certain level. The income level starts at $85,000 for a single person or $170,000 for married couples filing joint tax returns.

• Income-related premiums now apply to people who have Part D prescription drug coverage. The income levels are the same as for Part B.
  
• The new law freezes the 2010 income levels until 2020. As a result, more people will pay the higher-income premiums for Medicare Part B and Part D when they reach the income levels above.
  

Make your choices wisely

If you are thinking about changing your Medicare or Medigap coverage, be sure to find out all the facts first.

Review all your options before you switch from one Medicare plan to another. If you have other health coverage, such as Medicaid or retiree health insurance from an employer or a union, find out how these plans work with each Medicare plan you are considering. If you drop your additional insurance when you change plans, you may not be able to get the same coverage back if you change your mind at a later date.

For more information:

• Your State Health Insurance Assistance Program (SHIP) can help you navigate these changes so you can get the coverage you need.
  
• To see which plans are available in your area, go to Medicare Plan Finder.