💵SSA and IRS Announce New Matching Program Affecting Medicare Premiums
Privacy Act of 1974; Matching Program
Summary
In accordance with the provisions of the Privacy Act, as amended, this notice announces a new matching program with the United States Department of the Treasury, Internal Revenue Service (IRS). Under this matching program, the IRS will disclose to SSA certain tax return information for the purpose of establishing the correct amount of Medicare Part B premium subsidy adjustments and Medicare Part D premium increases provided under the Social Security Act (Act), the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (Medicare Modernization Act), and the Affordable Care Act of 2010 (ACA).
Agencies
- Social Security Administration
Business Impact
$$ - Med
The notice pertains to a new matching program between the SSA and IRS to adjust Medicare premiums based on income, which can directly impact business owners offering healthcare benefits. Understanding these adjustments is crucial for budgeting and compliance with Medicare regulations.