Part B Costs
Some people automatically get Medicare Part B (Medical Insurance), and some people need to sign up for Part B.
Learn how and when you can sign up for Part B.
If you don’t sign up for Part B when you’re first eligible, you may have to pay a late enrollment penalty.
How much does Part B cost?
Part B premiums
You pay a premium each month for Part B. Your Part B premium will be automatically deducted from your benefit payment if you get benefits from one of these:
*Social Security
*Railroad Retirement Board
*Office of Personnel Management
If you don’t get these benefit payments, you’ll get a bill.
Most people will pay the standard premium amount. If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). Medicare uses the modified adjusted gross income reported on your IRS tax return from 2 years ago. This is the most recent tax return information provided to Social Security by the IRS.
The standard Part B premium amount in 2020 is $144.60. Most people pay the standard Part B premium amount. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you’ll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.
| If your yearly Income is 2018 (for what you pay in 2020) was |
|---|
| Beneficiaries who file individual tax returns with income: | Beneficiaries who file joint tax returns with income: | Beneficiaries who file married & separate tax return: | Total monthly premium amount: |
|---|---|---|---|
| Less than or equal to $87,000 | Less than or equal to $174,000 | $87,000 or less | $144.60 |
| Above $87,000 and up to $109,000 | Above $174,000 and up to $218,000 | Not Applicable | $202.40 |
| Above $109,000 and up to $136,000 | Above $218,000 and up to $272,000 | Not Applicable | $289.20 |
| Above $136,000 and up to $163,000 | Above $262,000 and up to $326,000 | Not Applicable | $376.00 |
| Above $163,000 and up to $500,000 | Above $326,000 and less than $750,000 | Above $87,000 and less than $413,000 | $462.70 |
| $500,000 or above | $750,000 and above | $413,000 and above | $491.60 |