Medicare Part B premiums can be quite expensive, especially if you make more than $100,000 per year. A person who has Parts A and B generally only has to worry about the premiums going up if the government increases the premiums to cover its extra costs. The premiums are usually reasonable, but there are ways to keep the costs down.
One way to cut the costs of the premiums has to do with the way a person declares increased income from a Roth IRA. If a person takes it out, he may have had a capital gain from that year which will increase his premiums.
Depending on the amount of additional income gained from the Roth IRA, a person may want to split the gain across two years. The additional money carried into separate years may keep a person’s Medicare Part B premiums from raising above his ability to pay for them.
Not everyone has to worry about a Roth maturing or receiving additional income from one. Most people need to look for other ways to cut their Medicare Part B premiums.
Patients seldom worry about keeping their premiums down, although doctors and the federal government do their best to keep the prices charged for the services provided by the program from spiraling out of control. One way to keep down out-of-pocket costs is to prevent doctors and hospitals from ordering unnecessary tests, although it takes a lot of medical knowledge to pull this off.
The best way is to watch to see if your income changes and petition for premium decreases when a person’s adjusted gross income falls below a certain level. The government, on the other hand, will happily raise an recipient’s premiums if his income goes above a certain threshold.