Medicare Premiums in 2020

The basic Part B premium amount for 2020 is $144.60 per month. The Part D premium for drug coverage in 2020 ranges from $13 to $83 per month (depending on the drug plan selected). However, high-income taxpayers with modified adjusted gross income above a set amount in 2018, pay an additional amount for Parts B and D premiums for 2020. (https://www.medicare.gov/your-medicare-costs/part-b-costs).

Note: In the table below, the column for “Married filing separately” applies if the spouses filed separately and lived together at any time in 2018.

MAGI in 2018 determines 2020 premiumsPart BPart D
Individual returnJoint returnMarried filing separately  
$87,000 or less$174,000 or less$87,000 or less$144.60Your plan premium

Over $87,000 but not over $109,000

Over $174,000 but not over $218,000N/A$202.40$12.20 + your plan premium
Over $109,000 but not over $136,000Over $218,000 but not over $272,000N/A$289.20$31.50 + your plan premium
Over $136,000 but not over $163,000Over $272,000 but not over $326,000N/A$376.00$50.70 + your plan premium
Over $163,000 but less than $500,000Over $326,000 but less than $750,000Over $87,000 but less than $413,000$462.70$70.00 + your plan premium
$500,000 and over$750,000 and over$413,000 and over$491.60$76.40 + your plan premium

 

Source : JK Lasser Posts >> Tax News