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 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 |
above $174,000 |
Not Applicable |
$202.40 |
|
above $109,000 |
above $218,000 |
Not Applicable |
$289.20 |
|
above $136,000 |
above $272,000 |
Not Applicable |
$376.00 |
|
above $163,000 |
above $326,000 |
above $87,000 |
$462.70 |
| $500,000 and above | $750,000 and above | $413,000 and above | $491.60 |
|
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 |
above $174,000 |
Not Applicable |
your plan premium + $12.20 |
|
above $109,000 |
above $218,000 |
Not Applicable |
your plan premium + $31.50 |
|
above $136,000 |
above $272,000 |
Not Applicable |
your plan premium + $50.70 |
|
above $163,000 |
above $326,000 |
above $87,000 |
your plan premium + $70.00 |
| $500,000 and above | $750,000 and above | $413,000 and above | your plan premium + $76.40 |
[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