Q: How is the Medicare Part B surcharge calculated for the tax year 2024?

A: You need to look at your tax return two years ago — the 2022 tax return. On line 11, check the amount which is your AGI (adjusted gross income). If the amount is less than or equal to $103,000 (single) or $206,000 (joint), then your Medicare Part B premium is $174.70 per month with no surcharge.

If the amount is greater than $103,000 (single) or $206,000 (joint), the first surcharge is $69.90 and the monthly premium will be $244.60.

If the AGI is significantly higher, then the surcharge could be $419.30 and the monthly premium will be $594.

Q: I am married and my spouse has not applied for Social Security benefits. Can I apply for spousal benefits?

A: No, you cannot apply for spousal benefits until your spouse applies.

Richard Rysiewski, a certified financial planner, welcomes all questions on tax and financial matters. Send them to Richard Rysiewski, Financial Doctor, 3001 Hartford Lane, Shelby Twp., MI 48316.