MEDICARE PART B PREMIUM

In , Part B premium will be $171.10 (or you may pay higher — it depends on one’s income). An exception here is that some with Social Security benefits will end up paying less ($170 on average). However, for most, you will pay the standard (or higher) should you qualify for the following:

• Enrolled in Part B for the first time in .

• Don’t receive Social Security benefits.

• Billed for your Part B premiums directly (I.e. not deducted from your Social Security benefits).

• You have Medicare and Medicaid, and Medicaid covers the premiums (which means that your state covers the standard premium of $171.10).

• Your modified adjusted gross income as reported on your IRS tax return 2 years prior exceeds a certain amount. If this is the case, then you will pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your existing premium.