Here's How Much More You'll Pay in Medicare Part B Premiums in
2020
By: Kevin Lilley
The
standard Medicare Part B premium will rise about $9 a month beginning Jan. 1,
2020, but beneficiaries in higher income brackets will see a larger increase.
Beneficiaries
in five higher income brackets pay an extra charge, known as an Income Related
Monthly Adjustment Amount (IRMAA), which also goes up at the start of the new
year:
·
If your individual tax income was above $87,000 to $109,000, or
your joint income was above $174,000 up to $218,000, you’ll pay $202.40
per month.
·
From $109,000 to $136,000 individual or $218,000 to $272,000
joint, you’ll pay $289.20
·
From $136,000 to $163,000 individual or $272,000 to $326,000
joint, you’ll pay $376
·
From $163,000 to $500,000 individual or $326,000 to $750,000 joint,
you’ll pay $462.70
·
Above $500,000 individual or above $750,000 joint, you’ll
pay $491.60 per month
These
premiums are deducted automatically from Social Security, Office of Personnel
Management (OPM), and/or Railroad Retirement Board benefits. Those who don’t
receive benefits from these agencies will receive a bill; regardless of how you
file your returns, you and your spouse will have separate Part B premium
payments.
The income
figures used to determine your Part B premium payment may not reflect your
current financial situation, especially in the event of a retirement, a
divorce, or other life-changing events. If you’ve undergone one of these events,
you can file Form SSA-44, Medicare Income-Related Monthly Adjustment Amount –
Life Changing Event, or visit your local Social Security office to request an
adjustment.
MOAA, Others
Ask VA to Expand List of Diseases Linked to Agent Orange Exposure
By: Amanda Dolasinksi
MOAA is among 20 veteran and
military service organizations asking the VA to add four diseases to the Agent
Orange presumption list in an effort to help thousands of affected veterans
receive benefits. There are 14
diseases on the VA’s current Agent Orange presumptive exposure list.
The designation offers veterans an easier path to qualify for disability benefits.
In a Nov. 15 letter to VA Secretary
Robert Wilkie, leaders of the groups requested the immediate addition of
hypertension, bladder cancer, hypothyroidism, and Parkinson’s-like symptoms to
the list. Each of the diseases has been linked to exposure to Agent Orange.
An estimated 900,000 veterans have
been exposed to Agent Orange, an herbicide sprayed from the air to destroy the
vegetation enemy fighters used as cover during the Vietnam War.
During congressional hearings
earlier this year, top VA leaders said they were considering adding four
diseases, with a decision to be released by summer. No decision was announced.