An Overlooked Opportunity to Reduce Medicare Premiums

The Social Security administration calculates Medicare premiums using a two year look back on Modified Adjusted Gross Income (MAGI). As an example, 2019 MAGI will set Medicare Premiums for 2021. However, if income recently dropped off, current Medicare premiums may not seem fair. Form SSA-44 allows a Medicare participant to claim a life-changing event for a reduction of MAGI. A …