Medicare Part B: Premiums for 2020

06.22.2020 | Category: Medicare

The standard Medicare Part B premium is set each year by Medicare. For 2020, the standard Part B premium is $144.60.¹ Most people will pay the standard premium, but It may be higher if your income is above a certain level.

Your Medicare Part B premium for 2020 will be automatically deducted from your benefit payment if you get benefits from Social Security, Railroad Retirement Board, or the Office of Personnel Management. If you don’t receive any of these benefit payments, you’ll get a bill in the mail.

You will pay the standard premium amount (or higher) if:

You enroll in Part B for the first time in 2020
You don’t get Social Security benefits
You’re directly billed for your Part B premiums
You have Medicare and Medicaid, and Medicaid pays your premiums (your state will pay the standard premium amount of $144.60 in 2020)
Your modified adjusted gross income as reported on your IRS tax return from two years ago is above a certain amount

You can find more information in our Medicare Advice Center.

If you’re in one of these five groups, here’s what you’ll pay for Medicare Part B premiums for 2020 ²:

If your yearly income in 2018 (for what you pay in 2020) was			You pay each month (in 2020)
File individual tax return	File joint tax return	File married & separate tax return	You pay each month (in 2020)
$87,000 or less	$174,000 or less	$87,000 or less	$144.60
above $87,000 up to $109,000	above $174,000 up to $218,000	Not applicable	$202.40
above $109,000 up to $136,000	above $218,000 up to $272,000	Not applicable	$289.20
above $136,000 up to $163,000	above $272,000 up to $326,000	Not applicable	$376.00
above $163,000 and less than $500,000	above $326,000 and less than $750,000	above $87,000 and less than $413,000	$462.70
$500,000 or above	$750,000 and above	$413,000 and above	$491.60