Medicare Plan B premium notification

[statsman]

Is there a deadline for Medicare to notify individuals of their expected 2021 monthly Plan B (and Plan D) premiums? We're still waiting to hear for my DW, and she doesn't see anything on her Medicare online account to indicate what it will be for 2021.

She got hit hard this year (2020) because of a one-time sizable capital gains bill in 2018 due to a house sale. It is my understanding that for 2021 Medicare uses the Federal income tax filing from 2019, which for us placed our income well below the threshold for any additional costs to the monthly premiums.

 

[braumeister]

See here:
https://www.early-retirement.org/forums/f38/2021-standard-part-b-premium-is-148-50-a-106316.html

The Search feature is your friend.

 

[statsman]

Thanks. I've posted the same question on that thread because it really doesn't answer my question. I know what the 2021 premiums are by income levels. I'm looking for some confirmation that Medicare is going to scale back DW's premiums for 2021 because the 2019 income for us doesn't require a premium increase over the base Plan B monthly premium.

 

[braumeister]

Thanks. I've posted the same question on that thread because it really doesn't answer my question. I know what the 2021 premiums are by income levels. I'm looking for some confirmation that Medicare is going to scale back DW's premiums for 2021 because the 2019 income for us doesn't require a premium increase over the base Plan B monthly premium.

They won't notify you. The adjustment is automatic.

 

[statsman]

They won't notify you. The adjustment is automatic.

So, no way to confirm Medicare is going to get this right until the first premium payment for 2021. Swell.

 

[kaneohe]

Don't you get a Medicare statement for next yr, starting anytime now or perhaps it is December where you can see what is supposed to happen.

 

[audreyh1]

I thought people for IRMAA notices? Or is that only if they are already on SS in which case they do get a notice in Dec about their new SS payment which includes the Medicare payment that will be deducted from SS.

Medicare bills are generally issued a bit over a month in advance. For example, the Jan bill should be issued around 11/27 and be due 12/25. So you should know by the end of November and at least be able to see the amount online in your account at Medicare.gov.

 

[MichaelB]

I think one gets a notice every year when Medicare assesses an IRMAA charge. There is no notice when going from IRMAA to no additional charge.