Part B
For most enrolling in Medicare, Part A is FREE. But, Part B has a monthly premium. The standard Part B premium amount in 2024 is $174.70. Most people will 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 in 2022 (for what you pay in 2024) was:
If your yearly income in 2022 (for what you pay in 2024) was:
FILE INDIVIDUAL TAX RETURNS: |
FILE JOINT TAX RETURNS |
FILE MARRIED & SEPARATE TAX RETURN |
TOTAL MONTHLY PREMIUM AMOUNT IN 2022: |
$103,000 or less |
$206,000 or less |
$103,000 or less |
$174.70 |
above $103,000 up to $129,000 |
above $206,000 up to $258,000 |
Not Applicable |
$244.60 |
above $129,000 up to $161,000 |
above $258,000 up to $322,000 |
Not Applicable |
$349.40 |
above $161,000 up to $193,000 |
above $322,000 up to $386,000 |
Not Applicable |
$454.20 |
above $193,000 and less than $500,000 |
86above $386,000 and less than $750,000 |
Above $103,000 and less than $397,000 |
$559.00 |
$500,000 or above |
$750,000 and above |
$397,000 and above |
$594.00 |