What are Medicare Part B 2008 monthly premiums for higher wage earners?
Most people will pay the standard monthly Part B premium of $96.40 in 2008. Some people will pay a higher premium based on their modified adjusted gross income. Your monthly premium will be higher if you file an individual tax return and your annual income is more than $82,000, or if you are married (file a joint tax return) and your annual income is more than $164,000. If you meet these criteria, Social Security will use the income reported two years ago on your IRS income tax return to determine your premium (if unavailable, SSA will use income from three years ago). For example, the income reported on your 2006 tax return will be used to determine your monthly Part B premium in 2008. If your income has decreased since 2006, you can ask that the income from a more recent tax year be used to determine your premium, but you must meet certain criteria. At the end of each year, Social Security will send you a letter if your Part B premium will increase based on the level of your income a
