For this year, CMS released the Medicare Part B premium amounts.   The standard Medicare Part B premium in 2022 is $170.10.   Last year, the Part B premium was $148.50.

The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an amount Medicare beneficiaries pay in addition to your Part B or Part D premium if their income is considered to be at a certain level.  Review your 1040 tax return from 2020: those filing individually, and making more than $91,000 will pay a higher amount.   Married couples filing jointly who made more than $182,000 in 2020 will also pay higher amounts.

Medicare Part B Income-Related Monthly Adjustment Amounts

The 2022 Part B premiums for high-income beneficiaries are listed below in the 2022 Medicare IRMAA Brackets table. As noted, income is calculated from 2020 Modified Adjusted Gross Income, or MAGI

How to Find Your 2020 MAGI

Your MAGI amount is made up of your total adjusted gross income PLUS any tax-exempt interest income. The Form SSA-44 has instructions that explain which line numbers from your IRS Tax return you will need to use to calculate this number.

You can view the form here: SSA-44

Part D (PDP/prescription Rx coverage) also falls under IRMAA.  Those that will pay extra for their part B premium will also pay additional money for Part D. Here are the Income breakdowns for Part D IRMAA: