If your modified adjusted gross income exceeded $97,000 (single) or $194,000 (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 2022 |
Joint Tax Return Filed in 2022 |
Married & Separate Tax Return Filed in 2022 |
Part B Premium in 2024 |
|---|---|---|---|
|
$103,000 or less |
$206,600 or less |
$103,000 or less |
$174.70 |
|
above $103,000 |
above $206,600 |
Not Applicable |
$244.60 |
|
above $129,000 |
above $258,000 |
Not Applicable |
$349.40 |
|
above $161,000 |
above $322,000 |
Not Applicable |
$454.20 |
|
above $193,000 |
above $386,000 |
above $103,000 |
$559.00 |
|
$500,000 and above |
$750,000 and above |
$403,000 and above |
$594.00 |
|
Individual Tax Return Filed in 2022 |
Joint Tax Return Filed in 2022 |
Married & Separate Filed in 2022 |
Part D Premium in 2023 |
|---|---|---|---|
|
$103,000 or less |
$206,600 or less |
$103,000 or less |
your plan premium |
|
above $103,000 |
above $206,600 |
Not Applicable |
your plan premium + $12.90 |
|
above $129,000 |
above $258,000 |
Not Applicable |
your plan premium + $33.30 |
|
above $161,000 |
above $322,000 |
Not Applicable |
your plan premium + $53.80 |
|
above $193,000 |
above $366,000 |
above $103,000 |
your plan premium + $74.20 |
|
$500,000 and above |
$750,000 and above |
$403,000 and above |
your plan premium + $81.00 |
[1] “Part B Costs,” U.S. Centers for Medicare and Medicaid Services, accessed December 27, 2023, https://www.medicare.gov/your-medicare-costs/part-b-costs
[2] “Monthly premium for drug plans,” U.S. Centers for Medicare and Medicaid Services, accessed December 27, 2023, https://www.medicare.gov/drug-coverage-part-d/costs-for-medicare-drug-coverage/monthly-premium-for-drug-plans