Asset Planning, Inc Blog

The latest from the team.

Medicare Premiums Update and Medicare Surtax

 

Medicare Part B premiums are remaining unchanged for 2014 ($104.90 per month).  Those seniors who had an adjusted gross income of over $170,000 for married couples or $85,00 for all others, there will be an increase in rates for Part B and Part D premiums.  The adjusted gross income will be taken from the 2012 tax returns that were filed.  Total surcharges are phased in by adjusted gross income levels but will not be greater than $300.10 a month.  If you would like more information on the rate breakdown or how this might affect you, please follow the link below to the document provided by the Social Security Administration.

http://www.ssa.gov/pubs/EN-05-10536.pdf

As part of the Affordable Care Act there is a new Medicare surtax that is being imposed on singles earning over $200,000 or couples earning over $250,000 for 2013.  This new surtax only applies to the earnings over the thresholds listed above.  This new surtax is only paid by the employee and does not change the employer portion of the Medicare tax.  This adds 0.9% to the amount of Medicare tax that is being paid and employers have been instructed to withhold the extra 0.9% of Medicare tax on any employee whose earnings exceed $200,000 regardless of filing status.

Normal 0 false false false EN-US X-NONE X-NONE

 

Continue reading
  1456 Hits
1456 Hits

Search Blogs Module

Wait a minute, while we are rendering the calendar
health care costs retirement plans portal Two-Step Verification assets Medicare question company IRA accounts Shred paperwork pet supplies gap insurance National Ice Cream month retirement accounts prescription eyeglasses executive order increase credit freeze credit cards home security Kraig Mathias 70 1/2. padlock card reader memorial Day weekend April 18 2017. clients show support July 4 Mobile Banking Security Tips IRS deadline 2018 IRA contributions April 15 Wells Fargo employees web address vacation non-prescripstion sunglasses bottom line ice cream event June 29 president Trump debt tax deadline asset Planning trust 2017 TD Ameritrade National LINC Conference Legal robocalls borrowing money Victor Dergunov 401K Part B home vision screening Treasury Department interest rates Asset Planning emergency kit drive /usb Wells Fargo customers banking Roth IRA Puerto Rico investment statements official certification Orange County Superior Court California Lions Friends earthquake app house sitter Open Enrollment car loans jury duty pet 2017 IRA contributions disaster areas parking spots relief efforts home mortgages phone companies phishing scams ID card 900 number Independence Day integral member partner /owner “ skimmer ”. spring cleaning VOIP landline phones DNA test kits policy Amazon Orange County money 20 year anniversary spam phone opt-out birth certificates Healthcare Retirement Contribution Limits clients insurance policies retirement planning Social Security cell phones Erin Nelsen Supplemental Security Income FEMA website paperwork clutter flash drive https ://seekingalpha Medicare Part B premiums illiegal robocallers estate home break-ins Brexit vote account numbers Kiplinger Letter app Open House notary services summer tax season pet industry chip-enabled EMV cards April 11 privacy settings cell phone carriers offer Affordable Care Act clone counterfeits https :// Notary Public Fox News story fun facts insurance policy 23 andme documents Facebook profile credit card fraud privacy notices information information Facebook fees trustee D premiums Part D premiums . CERTIFIED FINANCIAL PLANNER exam rescue organizations credit card company contribution limit identity theft Flexible Spending Account Auto insurance credit score wells Fargo phishing sites identity thieves estate planning CFP ® driver license pets Social Security Administration retirement client portal Medicare October 1 2020. emergency folder blog post FSA 4 pm -8pm Medicare Part B consumer spending