What is IRMAA?
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 2019 |
Joint Tax Return Filed in 2019 |
Married & Separate Tax Return Filed in 2019 |
Part B Premium in 2021 |
|---|---|---|---|
|
$88,000 or less |
$176,000 or less |
$88,000 or less |
$148.50 |
|
above $88,000 |
above $176,000 |
Not Applicable |
$207.90 |
|
above $111,000 |
above $222,000 |
Not Applicable |
$297.00 |
|
above $138,000 |
above $276,000 |
Not Applicable |
$386.10 |
|
above $165,000 |
above $330,000 |
above $88,000 |
$475.20 |
| $500,000 and above | $750,000 and above | $412,000 and above | $504.90 |
|
Individual Tax Return Filed in 2019 |
Joint Tax Return Filed in 2019 |
Married & Separate Filed in 2019 |
Part D Premium in 2021 |
|---|---|---|---|
|
$88,000 or less |
$176,000 or less |
$88,000 or less |
your plan premium |
|
above $88,000 |
above $176,000 |
Not Applicable |
your plan premium + $12.30 |
|
above $111,000 |
above $222,000 |
Not Applicable |
your plan premium + $31.80 |
|
above $138,000 |
above $276,000 |
Not Applicable |
your plan premium + $51.20 |
|
above $165,000 |
above $330,000 |
above $88,000 |
your plan premium + $70.70 |
| $500,000 and above | $750,000 and above | $412,000 and above | your plan premium + $77.10 |
[1] “Part B Costs,” U.S. Centers for Medicare and Medicaid Services, accessed January 6, 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 6, 2020, https://www.medicare.gov/drug-coverage-part-d/costs-for-medicare-drug-coverage/monthly-premium-for-drug-plans