The premium you pay for Medicare Part B and Part D is dependent on your income. Medicare Income-Related Monthly Adjustment Amount (IRMAA) is the name for the income adjusted amount you pay for Medicare Part B or Part D premiums and is determined by your income. Below is a chart that details the various premiums based on your income.
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2020 & 2021 costs at a glance
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| Part A premium | Most people don’t pay a monthly premium for Part A (sometimes called “premium-free Part A“). If you buy Part A, you’ll pay up to $458 each month in 2020 ($471 in 2021). If you paid Medicare taxes for less than 30 quarters, the standard Part A premium is $458 ($471 in 2021). If you paid Medicare taxes for 30-39 quarters, the standard Part A premium is $252 ($259 in 2021). |
| Part A hospital inpatient deductible and coinsurance | You pay:
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| Part B premium | The standard Part B premium amount is $144.60 ($148.50 in 2021) (or higher depending on your income). |
| Part B deductible and coinsurance | $198 ($203 in 2021). After your deductible is met, you typically pay 20% of the most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and |
| Part C premium | The Part C monthly premium varies by plan. Compare costs for specific Part C plans. |
| Part D premium | The Part D monthly premium varies by plan (higher-income consumers may pay more). Compare costs for specific Part D plans. |
* The charts above are from the CMS Medicare Costs at a Glance website updated for2021.
