Higher-income Medicare beneficiaries will pay more. In 2021, individuals with modified adjusted gross income of $88,000 or more and married couples with MAGIs of $176,000 or more will pay additional surcharges ranging from $59.40 per month to $356.40 per month on top of the standard Part B premium.
The maximum IRMAA in 2021 will be $356.40, bringing the total monthly cost for Part B to $504.90 for those in that bracket. The top IRMAA bracket applies to married couples with adjusted gross incomes of $750,000 or more and singles with $500,000 or more of income.
Thank you.
Just to clarify, the 2021 maximum per couple of $176,000 is based on my 2020 tax return?
For 2022 what is the limit per couple that we can earn in 2021?
It’s too early to project the income brackets for 2022 coverage. They have not yet been released for 2022.
As of December 2020, we don't have enough information to determine what the brackets might be for 2022. Inflation increase or decrease will have an impact. And then, your income (two years prior each year) determines whether you will be impacted by the Income Related Monthly Adjustment Amount (IRMAA).