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Belief 11
“Everybody pays the same Part B premium.”
True or false?
Correct!
Not quite.
People with higher incomes pay a surcharge on Part B and Part D premiums. Social Security works it out from the tax return filed two years earlier, so a new retiree can be charged according to a salary they no longer earn. If income has dropped because of retirement, the death of a spouse or another recognized life event, you can ask Social Security to use a more recent year. Health never affects the premium.