Client Tip for March 2017: MEDICARE PART B COST
MEDICARE PART B COST
Most individuals who are enrolled in Medicare Part B pay approximately $109 on average per month. You may have to pay more than that in a few situations. There are five situations in which you will be billed a higher monthly charge, starting at $134 per month.
- You first enroll in Part B in 2017
- You do not get Social Security benefits
- You have both Medicare and Medicaid and Medicaid pays your premium
- You pay your Part B premiums directly
- Your modified adjust gross income from 2 years ago (2015 income for 2017 premiums) is above a certain level
The following chart shows the amount you will pay based upon your income level.
If your yearly income in 2015 (for what you pay in 2017) was:
|Individual Tax Return||Joint Tax Return||Married Filing Separate Tax Return||You Pay Each Month (in 2017)|
|$85,000 or less||$170,000 or less||$85,000 or less||$134.00|
|Above $85,000 up to $107,000||Above $170,000 up to $214,000||Not Applicable||$187.50|
|Above $107,000 up to $160,000||Above $214,000 up to $320,000||Not Applicable||$267.90|
|Above $160,000 up to $214,000||Above $320,000 up to $428,000||Above $85,000 up to $129,000||$348.30|
|Above $214,000||Above $428,000||Above $129,000||$428.60|
You may want to keep this in mind when your income spikes in a particular year.
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