Medicare Part B

Part B IRMAA Costs in 2022

Medicare costs change every year, which can affect premiums and deductibles, including with Part B. You may have noticed these adjustments in the Annual Notice of Change (ANOC) document that arrived in September 2021. Part B has adjusted costs on a national level, but its premiums are priced according to earned income level. This is known as the Income-Related Monthly Adjustment Amount (IRMAA).

What Is An IRMAA?

The IRMAA is based on your annual income from 2020. It is also based on how that income was reported. The qualifying amounts for certain adjusted premium costs vary based on whether you filed individually, jointly, or married and separately.

This only affects individuals who earned more than $91,000 in 2020, and couples who earned above $182,000 in that year.

What Are The Part B Premiums For Those Who Filed Individually?

If you filed your taxes as a single individual, these are the premiums you can expect to pay according to the income amounts listed:

  • $91,000 and under – $170.10
  • Over $91,000 up to $114,000 – 238.10
  • Over $114,000 to $142,000 – $340.20
  • Over $142,000 to $170,000 – $442.30
  • Over $170,000 but less than $500,000 – $544.30
  • $500,000 or more – $578.30

What Are The Part B Premiums For Those Who Filed Jointly?

If you filed jointly with your spouse, the qualifying income amounts for specific premium costs are doubled. If you filed jointly, here is what you will pay according to your annual reported income for 2020:

  • $182,000 and under – $170.10
  • Over $182,000 up to $228,000 – 238.10
  • Over $228,000 to $284,000 – $340.20
  • Over $284,000 to $340,000 – $442.30
  • Over $340,000 but less than $750,000 – $544.30
  • $750,000 or more – $578.30

What Are The Part B Premiums For Those Who Filed As Married And Separate?

There are only three income levels that can affect what your Part B premiums will cost in 2022. These are the amounts you can expect to pay based on if you filed as married and separate:

  • $91,000 and under – $170.10
  • Over $91,000 but less than $409,000 – $544.30
  • $409,000 or more – 578.30

Call Us Today To Learn More

At Medicare Sharks, we strive to keep your savings as high as possible while keeping your out-of-pocket costs to a minimum. Medicare may change costs every year, but our approach to getting our customers the best Medicare policies won’t. Get started on saving more today by calling us at 561-225-3022, or our alternate number 561-225-3633.