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How does Social Security calculate Modified Adjusted Gross Income (MAGI)?

Generally, Modified Adjusted Gross Income (MAGI) is the sum of your adjusted gross income plus any tax exempt interest income you may have. Some examples of income are: wages, salaries, tips, taxable interest, certain dividends, business income, capital gains, and unemployment compensation, as well as annuities, Social Security benefits and some pensions.

For more information, visit the Social Security Administration’s website at www.socialsecurity.gov/mediinfo.htm, call toll-free at 1-800-772-1213 (TTY 1-800-325-0778) or visit your local Social Security office.

To learn more about Medicare Part B coverage, visit www.medicare.gov.


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"Futures" is a term used to designate contracts covering the sale of financial instruments or physical commodities for future delivery on a commodity exchange. The asset underlying the futures contract (the thing to be bought or sold) can be just about anything, but is most commonly a physical commodity (as in pork bellies or oil futures) or another financial instrument (as in stock futures). Owners of underlying commodities can use futures to hedge against the uncertainty of future market prices--they can lock in a sale price--while investors can speculate on the changes in the market price of the underlying asset.
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