Costs of Medicare in 2022
Part A (Hospital). For most people the premium is $0, because they paid Medicare taxes long enough while working–generally at least 10 years or 40 quarters). This is sometimes called “premium-free Part A.”
Part B (Medical Services). For most people the premium is $170.10/month (or higher depending on your income). The amount can change each year. You’ll pay the premium each month even if you don’t get any Part B covered services.
You pay a premium each month for Part B. Your Part B premium will be automatically deducted from your social security benefit payment. If you don’t get these benefit payments, you’ll get a quarterly bill.
IRMAA. Most people will pay the standard premium amount. If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). Medicare uses the modified adjusted gross income reported on your IRS tax return from 2 years ago. This is the most recent tax return information provided to Social Security by the IRS. Social Security will tell you if you have to pay a higher premiums because of your income.
You’ll pay the higher premium if your modified adjusted gross income, as reported on you IRS tax return from 2 years ago, is more than:
- $91,000 in 2022, if you file an individual tax return or are married and file separately.
- $182,000 in 2022, if you are married and file a joint tax return
To see a chart with specific IRMAA amounts for income categories, Click : IRMAA
Note: Scroll down to Part B Section, then click on “Who pays a higher Part B premium because of income.”