Part B costs

Some people automatically get 

Medicare Part B (Medical Insurance)

, and some people need to sign up for Part B. Learn how and when you can sign up for Part B.

If you don't sign up for Part B when you're first eligible, you may have to pay a late enrollment penalty.

How much does Part B cost?

Part B premiums

You pay a premium each month for Part B. Your Part B premium will be automatically deducted from your benefit payment if you get benefits from one of these:

  • Social Security
  • Railroad Retirement Board
  • Office of Personnel Management

If you don’t get these benefit payments, you’ll get a bill. 

Most people will pay the standard premium amount. If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). Medicare uses the modified adjusted gross income reported on your IRS tax return from 2 years ago. This is the most recent tax return information provided to Social Security by the IRS. 

 

The standard Part B premium amount in 2020 is $144.60. 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). IRMAA is an extra charge added to your premium.

If your yearly income in 2018 (for what you pay in 2020) was You pay each month (in 2020)
File individual tax return File joint tax return File married & separate tax return
$87,000 or less $174,000 or less $87,000 or less $144.60
above $87,000 up to $109,000 above $174,000 up to $218,000 Not applicable $202.40
above $109,000 up to $136,000 above $218,000 up to $272,000 Not applicable $289.20
above $136,000 up to $163,000 above $272,000 up to $326,000 Not applicable $376.00
above $163,000 and less than $500,000 above $326,000 and less than $750,000 above $87,000 and less than $413,000 $462.70
$500,000 or above $750,000 and above $413,000 and above $491.60

 

Part B deductible & coinsurance

In 2020, you pay $198 for your Part B 

Deductible [glossary]

. After you meet your deductible for the year, you typically pay 20% of the 

Medicare-approved amount

 for these:

Find out what Part B covers.

Find out what you pay for Part B covered services.