modified adjusted gross income
(7) Increase in base beneficiary premium based on income (A) In general In the case of an individual whose modified adjusted gross income exceeds the threshold amount applicable under paragraph (2) of section 1395r(i) of this title (including application of paragraph (5) of such section) for the calendar year, the monthly amount of the beneficiary premium applicable under this section for a month after December 2010 shall be increased by the monthly adjustment amount specified in subparagraph (B). (B) Monthly adjustment amount The monthly adjustment amount specified in this subparagraph for an individual for a month in a year is equal to the product of— (i) the quotient obtained by dividing— (I) the applicable percentage determined under paragraph (3)(C) of section 1395r(i) of this title (including application of paragraph (5) of such section) for the individual for the calendar year reduced by 25.5 percent (or, for 2030 and each subsequent year, the percent specified under paragraph (9)); by (II) 25.5 percent (or, for 2030 and each subsequent year, the percent specified under paragraph (9)); and (ii) the base beneficiary premium (as computed under paragraph (2) or (8) (as applicable)). (C) Modified adjusted gross income For purposes of this paragraph, the term “modified adjusted gross income” has the meaning given such term in subparagraph (A) of section 1395r(i)(4) of this title , determined for the taxable year applicable under subparagraphs (B) and (C) of such section. (D) Determination by Commissioner of Social Security The Commissioner of Social Security shall make any determination necessary to carry out the income-related increase in the base beneficiary premium under this paragraph. (E) Procedures to assure correct income-related increase in base beneficiary premium (i) Disclosure of base beneficiary premium Not later than September 15 of each year beginning with 2010, the Secretary shall disclose to the Commissioner of Social Security the amount of the base beneficiary premium (as computed under paragraph (2) or (8) (as applicable)) for the purpose of carrying out the income-related increase in the base beneficiary premium under this paragraph with respect to the following year. (ii) Additional disclosure Not later than October 15 of each year beginning with 2010, the Secretary shall disclose to the Commissioner of Social Security the following information for the purpose of carrying out the income-related increase in the base beneficiary premium under this paragraph with respect to the following year: (I) The modified adjusted gross income threshold applicable under paragraph (2) of section 1395r(i) of this title (including application of paragraph (5) of such section). (II) The applicable percentage determined under paragraph (3)(C) of section 1395r(i) of this title (including application of paragraph (5) of such section). (III) The monthly adjustment amount specified in subparagraph (B). (IV) Any other information the Commissioner of Social Security determines necessary to carry out the income-related increase in the base beneficiary premium under this paragraph. (F) Rule of construction The formula used to determine the monthly adjustment amount specified under subparagraph (B) shall only be used for the purpose of determining such monthly adjustment amount under such subparagraph.