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.
If your yearly income in 2018 (for what you pay in 2020) or in 2019 (for what you pay in 2021) was | For Part B, you pay each month (in 2020) | For Part B, you pay each month (in 2021) | For Part D, you pay each month (in 2020) | For Part D, you pay each month (in 2021) | ||
File individual tax return | File joint tax return | File married & separate tax return | ||||
$87,000 or less | $174,000 or less | $87,000 or less | $144.60 | $148.50 | your plan premium | your plan premium |
above $87,000 up to $109,000 | above $174,000 up to $218,000 | Not applicable | $202.40 | $207.90 | $12.20 + your plan premium | $12.30 + your plan premium |
above $109,000 up to $136,000 | above $218,000 up to $272,000 | Not applicable | $289.20 | $297.00 | $31.50 + your plan premium | $31.80 + your plan premium |
above $136,000 up to $163,000 | above $272,000 up to $326,000 | Not applicable | $376.00 | $386.10 | $50.70 + your plan premium | $51.20 + your plan premium |
above $163,000 and less than $500,000 | above $326,000 and less than $750,000 | above $87,000 and less than $413,000 | $462.70 | $475.20 | $70.00 + your plan premium | $70.70 + your plan premium |
$500,000 or above | $750,000 and above | $413,000 and above | $491.60 | $504.90 | $76.40 + your plan premium | $77.10 + your plan premium |
* The charts above are from the CMS Medicare Costs at a Glance website updated for 2021.