Social Security Matters

Ask Rusty – Clarification of Medicare
By Russell Gloor, National Social Security Advisor at the AMAC Foundation, the non-profit arm of the Association of Mature American Citizens
By Russell Gloor, National Social Security Advisor at the AMAC Foundation, the non-profit arm of the Association of Mature American Citizens

IRMAA and MAGI

Dear Rusty: I am confused by an article in my local newspaper which said that “MAGI” (modified adjusted gross income), on which my Medicare Part B premium is based, is my Adjusted Gross Income, plus any non-taxable interest, plus 50% of the social security I received. The part that is confusing is the 50% part. When I look at my tax return my Adjusted Gross Income includes the taxabl…