The phrase "adjust the premium" is correct and usable in written English.
It can be used in contexts related to finance, insurance, or pricing strategies where modifications to a premium amount are necessary.
Example: "After reviewing the risk factors, we decided to adjust the premium to better reflect the client's needs."
Alternatives: "modify the premium" or "alter the premium."
After you apply, the SSA will estimate your current year's income and adjust the premiums.
UPDATE 2: Igor Volsky of ThinkProgress argues, erroneously, that PTP 2 would allow private insurers to "cherry-pick the healthiest beneficiaries from traditional Medicare and leave sicker applicants to the government". Indeed, the plan risk-adjusts the premium support levels so as to prevent that practice: a well-established methodology.
Now, "we adjust the terms, the premiums and deductibles on each artist as we underwrite them".
Rather, the American version is called adjusted community rating, because it does allow insurers to adjust the community-rated premium for the age of the applicant.
But it seems incongruous, in what's supposed to be a premium product, to adjust the front seatbacks with a manual lever rather than a power control.
Manhattan's researchers adjusted the pre-ACA plan premiums upward to account for the population facing surcharges or denied coverage because of a pre-existing condition.
(Current Health Savings Account balances cannot usually be used to pay premiums). Adjusting the tax credit for age does not depend on the young beneficiary's taking full responsibility for this saving.
The legislation also adjusts the income thresholds for Medicare Part B premiums beginning in 2018.
Your insurance company, for example, may wish to adjust your premium".
Here are just a few facts about the Ryan-Wyden approach: Unlike a voucher program that would give seniors a fixed amount of money to purchase health plans -- the original Ryan plan -- Ryan-Wyden would adjust premium support payments each year to reflect the actual cost of health insurance premiums and still give seniors the option of being on Medicare.
