Medicare Premium Calculator
Medicare Premium Estimator
Estimate Medicare Part B and Part D premiums based on income (includes IRMAA)
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Formula
Total Monthly Premium = Part B Standard ($174.70) + Part B IRMAA + Part D Plan Premium + Part D IRMAA. IRMAA is based on MAGI from 2 years prior and filing status.
Frequently Asked Questions
What is IRMAA?
IRMAA (Income-Related Monthly Adjustment Amount) is a surcharge added to Medicare Part B and Part D premiums for higher-income beneficiaries. It's based on your MAGI from 2 years prior. For 2024, individuals earning above $103,000 (single) or $206,000 (married filing jointly) pay higher premiums.
How much is Medicare Part B?
The standard Medicare Part B premium is $174.70/month in 2024. Higher-income beneficiaries pay more due to IRMAA surcharges, which can increase the Part B premium up to $594.00/month for the highest income bracket.
Can I appeal my IRMAA surcharge?
Yes. If your income has decreased due to life-changing events (retirement, divorce, death of spouse, etc.), you can request a new determination using Form SSA-44. The Social Security Administration may use more recent income to reduce your IRMAA.
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