Medicare Part B premiums are the premiums that everyone will have to pay once they are on Medicare.
But did you know that the premium amount could be more or less based on your income?
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.
2022 Part B Premium
The standard Part B premium amount in 2022 is $170.10. 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.
However, if you experience a drastic decrease in income within those two years, you can file an appeal to have your IRMAA determination reviewed and possibly overturned.
Below is the IRMAA determination chart for the Medicare Part B Premium in 2022.
If your yearly income for 2020 (for what you pay in 2022) was | You pay each month (in 2022) | ||
|---|---|---|---|
File individual tax return | File joint tax return | File married and separate tax return | Your Premium |
$91,000 or less | $182,000 or less | $91,000 or less | $170.10 |
above $114,000 up to $142,000 | above $182,000 up to $228,000 | Not applicable | $238.10 |
above $228,000 up to $284,000 | above $228,000 up to $284,000 | Not applicable | $340.20 |
above $142,000 up to $170,000 | above $284 up to $340,000 | Not applicable | $442.30 |
above $170,000 up to $500,000 | above $340,000 and less than $750,000 | above $91,000 and les than $409,000 | $544.30 |
$500,000 or above | $750,000 or above | $409,000 or above | $578.30 |
Learn More
For more information about the income-related monthly adjustment amounts or to apply for Medicare Part A or B, visit the Social Security Administrations webpage Medicare Resources.
You can read the Medicare & You 2022 Handbook. To find more information about what Medicare covers, visit the Medicare website, or call 1-800-MEDICARE (1-800-633-4227; TTY 1-877-486-2048). To get more information on Medicare or enroll in a Medicare supplement, Prescription Drug Plan (Part D) or Medicare Advantage plan (Part C) contact one of our agents at 1-833-265-9644.
If you have limited resources and income, you may be able to get Extra Help with the costs — monthly premiums, annual deductibles, and prescription copayments — related to Medicare prescription drug coverage. Visit Extra Help with your Medicare prescription drug costs for more information.
