The 6-cent formula reduces Medicare Part B premiums for seniors with modified adjusted gross income (MAGI) below certain thresholds.
Income Above Threshold
Deduction Reduction Amount
Adjusted Deduction Available
How to Use Senior MAGI Deduction Reduction 6 Cent Formula Calculator
- Provide your MAGI and standard deduction for the relevant tax year
- Choose your filing status from the dropdown options
- Hit calculate and review your deduction reduction results immediately