If you’re on Medicare, you probably dread at least two financial happenings each year: tax season and a letter informing you that your Part B and Part D premiums are increasing.
That said, the new “senior bonus” deduction in President Donald Trump’s 2025 tax overhaul law probably sounds like a welcome break. (It’s up to $6,000 in extra tax relief if you’re 65 or older and otherwise eligible.) And it makes sense that the next question might be: Will the new “senior deduction” also help you avoid higher Medicare premiums?
