What is IRMAA?

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If your modified adjusted gross income exceeded $87,000 (single) or $174,000 (joint) two years ago, then an Income Related Monthly Adjustment Amount (IRMAA) may be applied to your Part B and Part D premiums in the current year.  Every year this IRMAA will be recalculated based on the MAGI on your tax return reported two years previously. 

Individual Tax Return Filed in 2018

Joint Tax Return Filed in 2018

Married & Separate Tax Return Filed in 2018

Part B Premium in 2020

$87,000 or less

$174,000 or less

$87,000 or less

$144.60

above $87,000
up to $109,000

above $174,000
up to $218,000

Not Applicable

$202.40

above $109,000
up to $136,000

above $218,000
up to $272,000

Not Applicable

$289.20

above $136,000
up to $163,000

above $272,000
up to $326,000

Not Applicable

$376.00

above $163,000
up to $500,000

above $326,000
up to $750,000

above $87,000
up to $413,000

$462.70

$500,000 and above $750,000 and above $413,000 and above $491.60

 

[1]

 

Individual Tax Return Filed in 2018

Joint Tax Return Filed in 2018

Married & Separate Filed in 2018

Part D Premium in 2020

$87,000 or less

$174,000 or less

$87,000 or less

your plan premium

above $87,000
up to $109,000

above $174,000
up to $218,000

Not Applicable

your plan premium + $12.20

above $109,000
up to $136,000

above $218,000
up to $272,000

Not Applicable

your plan premium + $31.50

above $136,000
up to $163,000

above $272,000
up to $326,000

Not Applicable

your plan premium + $50.70

above $163,000
up to $500,000

above $326,000
up to $750,000

above $87,000
up to $413,000

your plan premium + $70.00

$500,000 and above $750,000 and above $413,000 and above your plan premium + $76.40

 

[2]

 

[1] “Part B Costs,” U.S. Centers for Medicare and Medicaid Services, accessed January 17, 2020, https://www.medicare.gov/your-medicare-costs/part-b-costs

[2] 5 “Monthly premium for drug plans,” U.S. Centers for Medicare and Medicaid Services, accessed January 17, 2020, https://www.medicare.gov/drug-coverage-part-d/costs-for-medicare-drug-coverage/monthly-premium-for-drug-plans