When Does Medicare Levy Start?

  1. 11498 POINTS
    Jason Goldenzweig
    Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
    If you are a senior with a high income (above $85,000 for those filing their tax return as single, above $170,000 for those married filing jointly), you will pay a surcharge in addition to your standard Medicare Part B premium ($104.90 in 2014). The penalty you pay varies depending on your modified adjusted gross income (MAGI) from two years prior. You would start paying the surcharge when your coverage starts (the effective date).
    Answered on April 19, 2014
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