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MEDICARE PART B PREMIUM AMOUNTS

For Persons with Higher Income Levels.

The standard Part B premium amount in 2023 will be $164.90 (or higher depending on your income).

However, most people who get Social Security benefits will pay less than this amount. This is because the Part B premium increased more than the cost-of-living increase for 2023 Social Security benefits.

You’ll pay the standard premium amount if:

  • You enroll in Part B for the first time in 2023.
  • You don’t get Social Security benefits.
  • You’re directly billed for your Part B premiums.
  • You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium amount of $164.90.)
  • Your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount. If so, you’ll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.

Social Security will use the income reported two years ago on your IRS income tax return to determine your premium (if unavailable, SSA will use income from three years ago). For example, the income reported on your 2021 tax return will be used to determine your monthly Part B premium in 2023. If your income has decreased since 2021, you can ask that the income from a more recent tax year be used to determine your premium, but you must meet certain criteria.

The chart below shows the Part B monthly premium amounts based on income. These amounts change each year. There may be a late-enrollment penalty.

Part B premiums for high income beneficiaries for 2023

If your yearly income in 2020 (for what you pay in 2022) was You pay each month (in 2022)
File individual tax return File joint tax return File married & separate tax return
$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 $246000 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 are having trouble paying your premiums, you should call your State Medical Assistance (Medicaid) office to see if you qualify for some help. Some states refer to the Medicaid office as the Public Aid office, the Public Assistance office, or the State Medical Assistance office.

Income Related Monthly Adjustment Amount (IRMAA)

The Internal Revenue Service supplies your tax filing status, your adjusted gross income, and your tax-exempt interest income to the Social Security Administration to determine if you have an income related monthly adjustment amount (IRMAA).

The Social Security Administration will add your adjusted gross income together with your tax-exempt interest income to get an amount called the modified adjusted gross income (MAGI).

The income-related monthly adjustment amount is effective from January 1 through December 31 each calendar year. The Social Security Administration will refigure your Medicare Part B premium amount again next year when the Internal Revenue Service updates the information.