Off-Topic: In the fine print
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Name:
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GoneFishin
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Subject:
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In the fine print
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Date:
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9/4/2009 6:58:36 PM
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In 2003, President Bush signed the Medicare Modernization Act which among other things changed the subsidy that the government provides for medicare B participants. Previously, the individual paid 25% of the premium.
Section 811 of the Act also modified the Internal Revenue Code to authorize the Internal Revenue to disclose information to SSA regarding a person's Modified Adjusted Gross Income in order to determine the appropriate premium.
For 2009, here is the schedule:
Married Couple
Premium Income
$96.40 $170,000 or less
$134.90 $170,001-$214,000
$192.70 $214,001-$320,000
$250.50 $320,001-$426,000
$308.30 Above $426,000
Does it bother you that the IRS now furnishes your income to the SSA at age 65????
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