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MEDICARE PART B PREMIUM

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.

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Should you happen to fall within any of the above groups, then you can expect to pay the following:

If your yearly income in 2021 (for what you pay in 2023) was

You
pay each month (in 2023)

File
individual tax return

File
joint tax return

File
married & separate tax return

$97,000
or less

$194,000
or less

$97,000
or less

$164.90

above
$97,000 up to $123,000

above
$194,000 up to $246,000

Not
applicable

$230.80

above
$123,000 up to $153,000

above
$246,000 up to $306,000

Not
applicable

$329.7

above
$153,000 up to $183,000

above
$306,000 up to $366,000

Not
applicable

$428.60

above
$183,000 and less than $500,000

above
$366,000 and less than $750,000

above
$97,000 and less than $403,000

$527.50

$500,000
or above

$750,000
and above

$403,000
and above

$560.50