Income-related Monthly Adjustment Amount
The standard Part B premium amount in 2024 is $174.80. 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 2024, by income*
SINGLE FILERS | MARRIED, FILING JOINTLY | PART B PREMIUM | PART D SURCHARGE † |
Income: $102,500 or less | Income: $205,000 or less | $174.80 | $0 |
$102,501 - $130,000 | $205,001 - $260,000 | $244.70 | $12.90 |
$130,001 - $162,000 | $260,001 - $324,000 | $349.60 | $33.30 |
$162,001 - $193,500 | $324,001 - $387,000 | $454.40 | $53.80 |
$193,501 - $500,000 | $387,001 - $500,000 | $559.20 | $74.20 |
$500,000 and above | $750,000 and above | $594.20 | $81.00 |
*Income determining 2024 premiums is 2022 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