High-income Ohioans pay higher premiums for Medicare Part D

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 As of Jan. 1, 2011, Ohio Medicare beneficiaries considered high-income earners are paying more money for their Part D Medicare prescription drug coverage. The government is deducting additional premium amounts from the beneficiary’s Social Security benefit payments. The increase will not impact the rates charged by their health insurance company. Individuals with an income of $85,000 or above, or married couples filing jointly with an income of $170,000 or above, must pay an extra premium amount for Part D coverage. This extra premium amount is called the income-related monthly adjustment amount (IRMAA). This amount is based on modified adjusted gross income as reported on the beneficiary’s most recent IRS tax return. CMS recently provided the following tables showing the Part D premium adjustment amount based on income threshold. If the beneficiary is single and filed an individual tax return, or married and filed a joint tax return, the following will apply:

Here are the Part D income-related monthly adjustment amounts (IRMAA):

  • $0 (individuals with income of $85,000 or less; married couples filing jointly with income of $170,000 or less)
  • $12.00 (individuals with income between $85,001-$107,000; married couples filing jointly with income between $170,001-$214,000)
  • $31.10 (individuals with income $107,001-$160,000; married couples filing jointly with income between $214,001-$320,000)
  • $50.10 (individuals with income between $160,001-$214,000; married couples filing jointly with income between $320,001-$428,000)
  • $69.10 (individuals with income above $214,000; married couples filing jointly with income above $428,000)

If you are married, but file separately, here are the Part D income-related monthly premium adjustment amounts:

  • $50.10 (income is between $85,001-$129,000)
  • $69.10 (income is greater than $129,000)