Those who are getting ready to enroll in the Medicare program often ask if the total cost of Medicare premiums is based on income. And the short answer is yes. Medicare has a, a variable premium that is based on the income of the individual or the couple who is seeking coverage. Now, generally speaking, the majority of Americans will pay the standard rate for Medicare, which usually amounts to about $200 a month. Now, I do want to mention that for those who have, uh, higher incomes, This premium can actually increase to triple that amount. For Medicare purposes, your income is determined by your modified adjusted gross income, or MAGI from the most recent year you paid taxes. Now, if you want to find out more information, we suggest you visit the Medicare website at Medicare.gov or consult with your insurance agent.

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