Is a cash inheritance included in MAGI for calculating Medicare Part B payments?. Will increased payments go back down in future years?

Forum|Forum|7 years ago
June 1, 2019
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Employee

A cash inheritance that is not in a tax deferred account of some type is not taxable and not entered on your tax return. It is therefore not included in the MAGI for calculating Medicare Part B payments.

If the inheritance was in a tax deferred account and you take a distribution, the amount of the distribution that is taxable would be entered on your tax return and included in the MAGI.

S

SweetieJean

Employee

Your income for purposes of increased Medicare premiums is recalculated each year. For example: 2017 premiums are based upon 2015 income; 2018 premiums are based upon 2016 income.
<a rel="nofollow" target="_blank" href="https://www.ssa.gov/pubs/EN-05-10536.pdf">https://www.ssa.gov/pubs/EN-05-10536.pdf</a>