Navigating the Medicare Mystery

You may be aware that an increase in Medicare premium is predicted for 2016. Some individuals may not be affected at all, while others may see an increase upwards of 50% in their Medicare premiums next year.

Those affected are:
1. Anyone whose MAGI is more than $85,000 single/$170,000 MFJ.
2. New Medicare enrollees in November 2015 or later.
3. Current Medicare enrollees who are not receiving Social Security benefits.

Those unaffected are anyone who receives a Social Security benefit now AND does not exceed the MAGI income threshold above. This group of Medicare enrollees fall under a “hold harmless” provision that allows them to avoid a Medicare premium increase that would cause their Social Security benefit to decrease. This is about 70% of Medicare enrollees.

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete.