For Persons with Higher Income Levels.
However, most people who get Social Security benefits will pay less than this amount. This is because the Part B premium increased more than the cost-of-living increase for 2023 Social Security benefits.
You’ll pay the standard premium amount if:
Social Security will use the income reported two years ago on your IRS income tax return to determine your premium (if unavailable, SSA will use income from three years ago). For example, the income reported on your 2021 tax return will be used to determine your monthly Part B premium in 2023. If your income has decreased since 2021, you can ask that the income from a more recent tax year be used to determine your premium, but you must meet certain criteria.
The chart below shows the Part B monthly premium amounts based on income. These amounts change each year. There may be a late-enrollment penalty.
|If your yearly income in 2021 (for what you pay in 2023) was||You pay each month (in 2022)|
|File individual tax return||File joint tax return||File married & separate tax return|
|$97,000 or less||$194,000 or less||$97,000 or less||$164.90|
|above $97,000 up to $123,000||above $194,000 up to $246,000||Not applicable||$230.80|
|above $123,000 up to $153,000||above $246,000 up to $306,000||Not applicable||$329.70|
|above $153,000 up to $183,000||above $306,000 up to $366,000||Not applicable||$428.60|
|above $183,000 and less than $500,000||above $366,000 and less than $750,000||above $97,000 and less than $403,000||$527.50|
|$500,000 or above||$750,000 or above||$403,000 or above||$560.50|
If you are having trouble paying your premiums, you should call your State Medical Assistance (Medicaid) office to see if you qualify for some help. Some states refer to the Medicaid office as the Public Aid office, the Public Assistance office, or the State Medical Assistance office.
The Internal Revenue Service supplies your tax filing status, your adjusted gross income, and your tax-exempt interest income to the Social Security Administration to determine if you have an income related monthly adjustment amount (IRMAA).
The Social Security Administration will add your adjusted gross income together with your tax-exempt interest income to get an amount called the modified adjusted gross income (MAGI).
The income-related monthly adjustment amount is effective from January 1 through December 31 each calendar year. The Social Security Administration will refigure your Medicare Part B premium amount again next year when the Internal Revenue Service updates the information.