PART B PREMIUM
The premium for Medicare Part B for 2021 was $148.50 for the majority of people. This number is income based. You can look at the “IRMAA” chart at the bottom of this page to see if your amount is different
For 2022 the Medicare Part B premium is going up to $158.40PART B DEDUCTIBLE
For 2022 the Medicare Part B deductible is expected to increase $14 to $217
PART D DEDUCTIBLEMany Prescription Drug Plans (PDP) have a deductible for some tiers. A common scenario would be a deductible where you pay first (on tiers 3-5) before the plan begins. Some Medicare Advantage Plans do not have a deductible.
From 2020-2021 the average deductible went from $435-$445. For 2022 this is set to increase to $485.
PART D PREMIUM
The Centers for Medicare and Medicaid Services (CMS) recently projected that the Medicare Part D monthly premium will average $33/month. This is an increase from $31.47 in 2021
The standard Part B premium in 2021 is $148.50. Most people pay the standard Part B amount. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount AND an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.
If you file an INDIVIDUAL TAX RETURN and your yearly income in 2019 (for what you pay in 2020) was...
If you file a JOINT TAX RETURN and your yearly income in 2019 (for what you pay in 2020) was...
If you file as MARRIED BUT SEPARATE TAX RETURNS and your yearly income in 2019 (for what you pay in 2020) was...