something i hear from a lot of people when they're coming into medicare is that it's free right that
i've worked my entire life i've paid my medicare taxes now i'm 65 now i get my medicare and there's
no cost to it correct well if you're one of those you might be in for a big surprise i'm keith
arnbrecht founder of medicare on video i help people across the country make the right medicare
choices and i can absolutely help you as well one of the best parts there's no cost to allow
me to help you so hopefully you'll take advantage of all my information and i'm happy to do what i
can to make sure we get it all right if you stay till the end i'll show you how to download my book
medicare made clear absolutely free i cover just about every piece of medicare and it's
easy to read easy to understand i'll show you how to download that right now for right now we're
going to talk about medicare part b premium that's the big part of medicare when you come in and
there's absolutely a cost you have medicare part a medicare part b part a does not have a premium
as long as you have worked 40 quarters over your lifetime so 10 years then there's no premium on
medicare part a medicare part b a different story and a lot of people just don't understand that
and a bigger part of it it's income adjusted so it can be significantly higher if you continue to
have income once you're already into medicare i'm gonna go over through all the brackets right now
to show you so we can plan and prepare because super important that we don't get surprises
in our retirement and a lot of times people come into medicare they aren't necessarily retired
they may still be working or certainly have income properties or investments that produce income
important to understand this because it's a big difference so right now you have a base
premium on medicare part b which right now is a hundred and seventy dollars a month another thing
people get confused on you're gonna pay that no matter what whether you stay on original medicare
or whether you go on a medicare advantage plan you always have your medicare part b premium 170
a month you'll see these tv commercials where they talk about giving it back to you you know
that is for certain zip codes in the country and literally little to no income whatsoever you might
be able to qualify for some give back on medicare part b but if you have any income whatsoever
including social security income you're going to have that medicare part b premium so if you
make under 91 dollars in adjusted gross income so it's called maggie modified adjusted gross income
you can talk to your accountant on exactly how he figures that out but if it's less than ninety one
thousand dollars that's your premium 170 a month for medicare part b now if you come into medicare
and like me i'll still be generating income i'll still have investments and things of that nature
so based on your adjusted gross income i'll talk in just a minute about how they figure that out
and what they look at uh but the next category is between 91 and 114 single or 182 and 228
filing jointly it's going to raise that premium up to 238 dollars a month so from 170 to 238
goes up from there from 114 to 142 filing single or 228 to 284 340 a month in medicare part b
premium you can see where this is going so let's jump right to the highest level if you are a high
income earner and you know that's a matter of perception these days on what is considered
high income but if you file jointly at 500 000 or more or i'm sorry that single or
jointly at 750 or more that 170 premium now goes to 578 dollars a month for your medicare part b so
you pay 400 a month more than what the majority of people pay for their medicare part b now whether
that's fair or not different story you can leave me a note in the comments if you think that's fair
should the high earners pay that much more even though they've paid their taxes all their lives
just like everybody else but this is kind of the way things run right now so where it really hits
you is if you are filing jointly and it's you and your spouse coming into medicare that doubles so
you can see that's going to go up 1200 bucks or so just about on your monthly medicare part b premium
so that's just the part b premium this also factors into medicare part d drug plans it is also
income adjusted not as severe as the part b but it does raise the cost if you continue to have income
now let's talk about how they look at it so what medicare does is they look two years back so
they don't have access to your tax information now or likely even last year they have to look
two years previous so if we're in 2022 right now they're looking at your 2020 taxes
to find your adjusted gross income back in 2020 where they're going to apply this formula on
your medicare part b premium now what if you made money back then but you don't make the money now
big issue and certainly a lot of times people retire where they did make that kind of income
two years ago and now they don't so now you have to do some work so they're not going to take
your word for it you're going to have to file an appeal form and this is called irma is what this
process is it's irma irma and it is what you need to do if you go to my website medicareonvideo.com
you go right up here to the guides in the form section i have just about everything you need
on my website whether it's for this or just about anything else and you can see right here we have
an irma appeal form and then right in the next row we have a brochure on how to file a normal
appeal so you absolutely want to do this if you do not make the same income now that you did two
years ago and you can see the categories right here on you know where you're gonna fall in and
what your premium should be so make sure you do that and then i'm gonna make another video on
medicare part d shortly to show you the income adjusted premium there but it's important to
understand all this and that's what i do is help people get it all figured out we get the best
value for our medicare make sure we're doing it right because it's it's just super important so
i hope you found this helpful i'm gonna show you how to get my book right now have a fantastic day
thank you for taking the time to watch my video i hope you found it very helpful here are a couple
other things that you'll also find helpful as you go through medicare the first one is a copy of my
book medicare made clear you can download it right now for free i've put a lot of time and effort
into this book and you'll see i covered just about every piece of medicare and i've written it in a
way that makes it pretty easy to understand now i also have videos throughout the book so if you
don't want to read through all the information click on the video and i'll explain it all to you
right there you'll also find all the links that you need to either sign up for medicare or things
that you're going to need now or in the future when things come up related to medicare so take
just a minute go to medicareonvideo.com forward slash free book and you can download it right now
now also make sure once you're in medicare that every year you come back and visit medicare
price check this is my other website where i make it super easy for us to compare
our current coverage against new plans that may be less expensive and remember that medicare
supplements are standardized so it doesn't matter which insurance company we use will still have
the same plan g or the plan n that we have now but hopefully we can get it at a lower price
so visit medicarepricecheck.com real easy we'll email you the quote if it makes sense then
we'll do it from there so hope you found all this helpful have a fantastic day hey don't go anywhere
these are some of my most recent videos right here you can also find the link right below this video
to download my book medicare made clear absolutely free you can also subscribe to my channel
right here so please download my book watch some videos subscribe to the channel have a great day