Most people don’t pay a Part A premium because they paid Medicare taxes while working. If you don’t get premium-free Part A, you pay up to $506 each month.
If you don’t buy Part A when you’re first eligible for Medicare (usually when you turn 65), you might pay a penalty.
In 2023, you pay:
In 2023, you pay:
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Most people pay the standard Part B monthly premium amount ($164.90 in 2023). Social Security will tell you the exact amount you’ll pay for Part B in 2023.
You pay the standard premium amount if you:
If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a specific amount as noted below, you’ll pay the standard Part B premium and an income-related monthly adjustment amount.
|
If your yearly income in 2021 was |
|||
|
File individual tax return |
File joint tax return |
File married & separate tax return |
You pay |
|
$97,000 or less |
$194,000 or less |
$97,000 or less |
$164.90 |
|
above $97,000 up to $123,000 |
above $194,000 up to $246,000 |
not applicable |
$230.80 |
|
above $123,000 up to $153,000 |
above $246,000 up to $306,000 |
not applicable |
$329.70 |
|
above $153,000 up to $183,000 |
above $306,000 up to $366,000 |
not applicable |
$428.60 |
|
above $183,000 and less than $500,000 |
above $366,000 and less than $750,000 |
above $97,000 and less than $403,000 |
$527.50 |
|
$500,000 or above |
$750,000 or above |
$403,000 or above |
$560.50 |
If you have questions about your Part B premium, call Social Security at
1-800-772-1213. TTY users can call 1-800-325-0778.
2023 Part B deductible—$226 before Original Medicare starts to pay.
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The chart below shows your estimated drug plan monthly premium based on your income. If your income is above a specific limit, you’ll pay an income-related monthly adjustment amount in addition to your plan premium.
|
If your yearly income in 2021 was |
|||
|
File individual tax return |
File joint tax return |
File married & separate tax return |
You pay |
|
$97,000 or less |
$194,000 or less |
$97,000 or less |
Your plan premium |
|
above $97,000 up to $123,000 |
above $194,000 up to $246,000 |
not applicable |
$12.20 + your plan premium |
|
above $123,000 up to $153,000 |
above $246,000 up to $306,000 |
not applicable |
$31.50 + your plan premium |
|
above $153,000 up to $183,000 |
above $306,000 up to $366,000 |
not applicable |
$50.70 + your plan premium |
|
above $183,000 and less than $500,000 |
above $366,000 and less than $750,000 |
above $97,000 and less than $403,000 |
$70.00 + your plan premium |
|
$500,000 or above |
$750,000 or above |
$403,000 or above |
$76.40 + your plan premium |
Information obtained from Medicare.gov.