Medicare Part B Premium Cost - Shocking! - YouTube

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