Medicare Part B premiums will increase in 2024. How to manage these costs

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When to appeal your Medicare Part B premium

Medicare Part B premiums are based on beneficiaries’ modified adjusted gross income from the previous two years. Therefore, Part B premiums for 2024 are based on your 2022 federal income tax returns.

This includes adjusted gross income – wages, retirement distributions, investment income, capital gains, rental income and Social Security benefits – as well as tax-exempt interest.

If you have municipal bond interest that you don’t pay federal taxes on because it’s exempt, that can still result in higher Medicare Part B premiums, Steffen said.

$1 extra income can mean a higher premium


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