CMS Announces the 2021 Medicare Part B Standard Premium, Deductible, and IRMAAs for Parts B and D

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: