The Centers for Medicare and Medicaid (CMS) have announced the Medicare Part B standard premium, Income Related Monthly Adjustment Amounts (IRMAAs) for Parts B and D of Medicare, and the Part B deductible for 2021:
- The standard Part B Premium is increasing by $3.90/month to $148.50 in 2021 (up from $144.60 in 2020)
- The IRMAAs for Parts B and D are increasing as shown below, for those with incomes greater than $88k individual or $176k joint
- For purposes of calculating, the Modified Adjusted Gross Income (MAGI) from 2 years prior (2019’s tax return, for 2021) is used
- The Part B deductible is increasing by $5/year to $203 in 2021 (up from $198 in 2020)
Part B Premiums in 2021:
Part D (Prescription Drug coverage) Premiums in 2021: