A. Not all Medicare premiums are equal - while the standard Medicare premium is $134 a month, for couples filing jointly, for MAGI between $170K and $214K, monthly premium for Medicare is $187.50, for MAGI between $214K and $320K, monthly premium for Medicare is $267.90, for MAGI between $320K and $428K, monthly premium for Medicare is $348.30, and above $420K, monthly premium for Medicare is $428.60, and this premium is destined to raise each year.
How to avoid high Medicare premium?
The trick lies how MAGI is calculated- it is based on 2 years ago's income. For example, your income in 2017 will be reported for 2018 tax return, and will be used to determine 2019 Part B premium
For people who just retired, it is possible to pay high premium for 2 more years. It is important to appeal IRMAA (income related monthly adjustment amount) immediately after retirement, this is a legit reason to drop IRMAA.