1. Medicare Premium Calculation

The Medicare Part B premium consists of a standard base amount plus an Income-Related Monthly Adjustment Amount (IRMAA) based on your Modified Adjusted Gross Income (MAGI). Higher-income beneficiaries pay more.

2. Understanding IRMAA

IRMAA is an additional charge for Medicare Part B and Part D coverage based on income. The Social Security Administration uses tax return information from two years prior to determine if you owe IRMAA.

3. 2022 Premium Details

Base Premium: $170.10/month for most beneficiaries in 2022
IRMAA Tiers: Five additional tiers based on income thresholds

Income Brackets (Single):

• ≤ $91,000: $0 IRMAA
• $91,001-$114,000: $68.00
• $114,001-$142,000: $170.10
• $142,001-$170,000: $272.20
• $170,001-$500,000: $374.20
• > $500,000: $408.20

4. Using the Calculator

Instructions: Select your tax filing status and enter your Modified Adjusted Gross Income (MAGI) from two years prior (2020 for 2022 premiums).

5. Frequently Asked Questions (FAQ)

Q1: Why is Medicare using income from two years ago?
A: The IRS provides the most recent available data, which is typically two years prior.

Q2: Can I appeal my IRMAA determination?
A: Yes, if you've had a life-changing event that reduced your income (retirement, divorce, etc.).

Q3: Does IRMAA affect Medicare Part D?
A: Yes, similar surcharges apply to Part D prescription drug coverage.

Q4: Are there different rules for married filing separately?
A: Yes, the income threshold is much lower ($91,000) with higher surcharges above that amount.

Q5: How often are IRMAA amounts adjusted?
A: Both the base premium and IRMAA amounts are typically adjusted annually.