Here are the high points
The standard Part B premium amount in 2020 is $144.30 (or higher depending on your income). However, most people who get Social Security benefits pay less than this amount. This is because the Part B premium increased more than the cost-of-living increase for 2017 Social Security benefits. If you pay your Part B premium through your monthly Social Security benefit, you may pay less. Social Security will tell you the exact amount you’ll pay for Part B in 2020. You’ll pay the standard premium amount if:
- You enroll in Part B for the first time in 2017.
- You don’t get Social Security benefits.
- You’re directly billed for your Part B premiums OR YOU CAN SET UP MONTHLY AUTO PAY.
- You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium.)
- 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.
If you’re in 1 of these 5 groups, here’s what you’ll pay:
| If your yearly income in 2015 (for what you pay in 2017) was | You pay each month (in 2017) | ||
|---|---|---|---|
| File individual tax return | File joint tax return | File married & separate tax return | |
| $85,000 or less | $170,000 or less | $85,000 or less | $134 |
| above $85,000 up to $107,000 | above $170,000 up to $214,000 | Not applicable | $187.50 |
| above $107,000 up to $160,000 | above $214,000 up to $320,000 | Not applicable | $267.90 |
| above $160,000 up to $214,000 | above $320,000 up to $428,000 | above $85,000 and up to $129,000 | $348.30 |
| above $214,000 | above $428,000 | above $129,000 | $428.60 |
Get more information about your Part B premium from Social Security [PDF, 341 KB].
Part B deductible & coinsurance
You pay $197.00 per year for your Part B deductible. After your deductible is met, you typically pay 20% of the Medicare-approved amount for these:
- Most doctor services (including most doctor services while you’re a hospital inpatient)
- Outpatient therapy
- Durable medical equipment