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Medicare Part B Coverage & Costs - 2020
Medicare Part B (Medical Insurance) helps cover:
|
|
|
Services |
What Medicare Pays |
What you Pay |
|
Medical Expenses |
||
|
$0 |
$198 |
|
Generally 80% |
20% |
The standard Medicare Part B premium amount in 2020 will be $144.60. Most people will pay the standard Part B premium amount. If you 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 |