What Does IRMAA Stand For?
Updated: Apr 3
Income-related Monthly Adjustment Amount
The standard Part B premium amount in 2023 is $164.90. Most people pay the standard Part B premium amount. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA).
The income-related monthly adjustment amount (IRMAA) is an extra charge added to your premium. It is a sliding scale with a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug coverage premiums. The higher the beneficiary's range of modified adjusted gross income (MAGI), the higher the IRMAA. Part B & D premium costs are listed below.
Monthly Medicare Part B and D costs per person in 2023, by income*
SINGLE FILERS | MARRIED, FILING JOINTLY | PART B PREMIUM | PART D SURCHARGE † |
Income: $97,000 or less | Income: $194,000 or less | $164.90 | $0 |
$97,001 - $123,000 | $194,001 - $246,000 | $230.80 | $12.20 |
$123,001 - $153,000 | $246,001 - $306,000 | $329.70 | $31.50 |
$153,001 - $183,000 | $306,001 - $366,000 | $428.60 | $50.70 |
$183,001 - $500,000 | $366,001 - $750,000 | $527.50 | $70.00 |
$500,000 and above | $750,000 and above | $560.00 | $76.40 |
*Income determining 2023 premiums is 2021 adjusted gross income plus tax-exempt interest income
†Surcharge is added to the Part D premium, which varies based on the plan
Source: Centers for Medicare and Medicaid Services