Ask Terry Questions Medicare Premiums not updated for current lower income

Medicare Premiums not updated for current lower income

By Terry Savage on November 28, 2020 | Financial Planning / Retirement

I just received a letter from the SSA stating that I will need to pay a Medicare Part B IRMMA in 2021. I have been paying this IRMMA for 2020 because of my MAGI from 2018. My Medicare premium for 2021 should be based on my MAGI from 2019. My MAGI for 2019 is much less but the IRS has not processed my 2019 tax return yet. I sent my return by mail because of supporting documents I needed to include. I have confirmation that they received my return on 03/02/2020. I sent the SSA a copy of my 2019 tax return but they said they could not use that because they needed the information from the IRS. What, if anything , can I do about this?

Terry Says

Ugh — they are all so far behind. I really don’t have an idea — except for demanding a credit when they finally acknowledge that you shouldn’t be paying so much!
Consider reporting this issue to the Tax Ombudsman’s office — 1-877-777-4778. It’s a long shot, but that might get you some action!

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