Medicare Part A
Most people will pay $0 for their Medicare Part A. If you worked less than 40 quarters over your lifetime you will have to pay for Part A. Less than 1% of people pay for Part A.
Medicare Part B
Medicare Part B premiums are based on your modified adjusted gross income (MAGI) two years prior. 90% of Medicare beneficiaries pay the base premium. If you have a higher income, you may pay more for your Part B Premium.
| If your yearly income in 2020 (for what you pay in 2022) was | |||
| File individual tax return | File joint tax return | File married & separate tax return | You pay each month (in 2022) |
| $91,000 or less | $182,000 or less | $91,000 or less | $170.10 |
| above $91,000 up to $114,000 | above $182,000 up to $228,000 | Not applicable | $238.10 |
| above $114,000 up to $142,000 | above $228,000 up to $284,000 | Not applicable | $340.20 |
| above $142,000 up to $170,000 | above $284,000 up to $340,000 | Not applicable | $442.30 |
| above $170,000 and less than $500,000 | above $340,000 and less than $750,000 | above $91,000 and less than $409,000 | $544.30 |
| $500,000 or above | $750,000 or above | $409,000 or above | $578.30 |
Medicare Part D
Most people will pay the standard premium billed by their carrier for part D. If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA) in addition to the premium. This also applies if you enroll in a Part C Medicare Advantage plan that includes Part D Drug coverage.
| If your filing status and yearly income in 2020 was | |||
| File individual tax return | File joint tax return | File married & separate tax return | You pay each month (in 2022) |
| $91,000 or less | $182,000 or less | $91,000 or less | your plan premium |
| above $91,000 up to $114,000 | above $182,000 up to $228,000 | not applicable | $12.40 + your plan premium |
| above $114,000 up to $142,000 | above $228,000 up to $284,000 | not applicable | $32.10 + your plan premium |
| above $142,000 up to $170,000 | above $284,000 up to $340,000 | not applicable | $51.70 + your plan premium |
| above $170,000 and less than $500,000 | above $340,000 and less than $750,000 | above $91,000 and less than $409,000 | $71.30 + your plan premium |
| $500,000 or above | $750,000 or above | $409,000 or above | $77.90 + your plan premium |
