Medicare High Income premiums
As many no doubt know Medicare charges higher premiums for Part B and Part D if your income is above a certain amount.
DH went on Medicare late last year. For 2013 they base premiums on the 2011 tax return which has an income high enough to trigger the extra premium. For 2014, they will use the 2012 tax return which will also be high enough to trigger the extra premium.
However, if you have what is referred to as a "life changing" event then you can prove that to SS and then your Medicare premiums will be based upon that lower amount.
One of the life changing events if is a spouse stops work. I plan to stop work sometime during this year. Our income for this year will not be high enough to trigger the extra premium.
I know that once I stop work he can provide proof to SS and therefore his 2014 medicare premiums will be based upon this year's income instead of being based upon 2012 income.
But - here is my question - If I quit work during 2013 can the reduced income in 2013 cause his current 2013 premiums to be reduced during 2013?
That is, I know that my quitting work will reduce premiums for 2014, but will it do anything to reduce the 2013 premiums (I am thinking not but wonder if anyone has experienced this).