Medicare Part B Premium

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I noticed in ver 2.37.0 that the Medicare Part B premium for 2018 has been increased by the inflation rate I've used in assumptions. Could you please explain the logic for this? It seems to me that it should not be increased at least for 2018 by inflation.
Thanks
James

Comments

dan royer's picture

I'd have to ask Mike, James. You might review this thread. Perhaps it answers your question: https://www.esplanner.com/question/medicare-part-b-premium-ver-2350

I'd also double check the previous two years income to see if that might explain the increase.

Dan

Hi Dan,
The thread doesn't answer the question. ESP calculated our Part B premium correctly IF I backout the 2% inflation rate I've programmed in the Assumptions tab. So, the question is why is the 2018 premium inflated by 2%?
Thanks
James

dan royer's picture

There's apparently some updates that are done on Jan 1 each year related to taxes and Mecicare B. I assume Mike gets these right, but I'll let him know you have this question. He's in the middle of a lot of intense work on the new tax law/job act stuff so it may be a few weeks before he gets back on this one.

Thanks Dan. It can wait. I’m eager to see how the new tax law affects my planning. I Appreciate the excellent and important work all of you are doing for the ESPlanner community
James

James,
Open a ticket, upload your database, identify which profile I should look at, and attach reports of your old results that show what you were expecting compared to what you're seeing.

Mike, I had a complete computer failure 2 days ago. I won’t know until mid week if it can be repaired or get a new one. I’ll do what you suggested once I’m able. If your next update comes first I’ll run it and see if the same issue exists. To summarize, the Medicare premiums for 2018 are increased by exactly the inflation percent I’m using.
Thanks,
James

Mike, I'm so sorry this was my error. I had set the medicare premium future real growth rate at 2% beginning in 2018. There is NO error. Version 2.37 correctly calculates the medicare part B premium.
Sorry
James

James,
Thanks for the update.
That's what I suspected and why I wanted to see your database.