Medicare B cost

[jpeter1093]

I start Medicare in October, 2020 and have submitted the paperwork to do so. I got my card and today received a letter stating my Plan B cost would be $57 based on my 2018 tax return. It goes on to say I have 10 days to call them if there is an income change I want to tell them about and lists a few reasons. The one applying to me is that I stopped working (I retired in April 2019).

So, I plan on calling them on Monday and ask if they can base my Plan B cost on my 2019 income which was significantly less than 2018. Has anybody run into this? I didn't know they would go back TWO years to base the Plan B cost. Should I expect a hassle or a smooth conversation and adjustment of the cost?

Thanks!

 

[SevenUp]

Appealing a higher Part B or Part D premium (IRMAA) - Medicare Interactive might be useful for you.

 

[SumDay]

I'm confused. My husband's Part B premium is $144.60 and we're not subject to IRMAA. I thought that was the lowest it could be, unless you're eligible for assistance. How'd they arrive at $57?

I did a quick Google and found this:
"Low Income Medicare Beneficiary Program (SLMB).

Help to pay premiums for Part B. A single person can qualify in 2020 with an income up to $1,296 per month ($1,744/month for a couple). If you qualify as an SLMB, you're automatically eligible for Extra Help paying for Part D prescription coverage.May 11, 2020'

So you're eligible for SLMB?

 

[timo2]

I'm confused. My husband's Part B premium is $144.60 and we're not subject to IRMAA. I thought that was the lowest it could be, unless you're eligible for assistance. How'd they arrive at $57?

I did a quick Google and found this:
"Low Income Medicare Beneficiary Program (SLMB).

Help to pay premiums for Part B. A single person can qualify in 2020 with an income up to $1,296 per month ($1,744/month for a couple). If you qualify as an SLMB, you're automatically eligible for Extra Help paying for Part D prescription coverage.May 11, 2020'

So you're eligible for SLMB?

My medicare is $144.6 per month also

 

[MBSC]

How'd they arrive at $57?

When rounding off, the first level of IRMAA ($202) is an additional $57 above the standard Part B premium ($145).

OP, you are correct to appeal. You will pay the IRMAA rate for a few months and then receive a refund for the overpayments. The two year lookback occurs each year. So, you'll get another IRMAA notice in 2026 if you have high income in 2024.

They may ask you to complete the following form: https://www.ssa.gov/forms/ssa-44-ext.pdf

 

[pb4uski]

+1 you should be able to win an appeal. But to be clear it isn't $57, but $57 more than the base premium of $144.60.