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.
2020 & 2021 costs at a glance
|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:
|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.