Medicare for Higher Income


  • Medicare for Higher Income

For individuals whose Medicare Part B started in December 2018 and continuing through 2019, the standard Part B premium will be $135.50 (or higher depending on your income).

Most people new to Medicare will pay $135.50 in 2019. Some individuals who have been receiving Social Security checks for a number of years may pay slightly less, due to "hold harmless" provisions.

You’ll pay more than the standard premium of $135.50 if:

Your modified adjusted gross income (MAGI) as reported on your IRS tax return from 2017 is above a certain amount. If so, you’ll pay the standard premium amount plus an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your Part B premium and Part D drug premium. The chart below shows how Medicare Part B & D premiums will be increased in all states including Colorado for high income earnings.

The "look back" is two years so your 2019 premium is based on your MAGI income from 2017.

Please note: A sixth bracket has been added to the highest income level for 2019.

2019 Nationwide Medicare Part B & Part D Premiums (including Colorado)

Individual Tax Return

Joint Tax Return

For Part B:

You Pay

Part D Drug Surcharge:

2017 income is less than or equal to $85,000

2017 income is less than or equal to $170,000

$135.50

No high income surcharge

2017 income is $85,000 - $107,000

2017 income is $170,000 - $214,000

$189.60

$12.40 + plan premium

2017 income is $107,000 - $133,500

2017 income is $214,000 - $267,000

$270.90

$31.90 + plan premium

2017 income is $133,500 - $160,000

2017 income is $267,000,000 - $320,000

$352.20

$51.40 + plan premium

2017 income is $160,000 to $500,000

2017 income is $320,000 to $750,000

$433.40

$70.90 + plan premium

2017 income greater than $500,000

2017 income is greater than $750,000

$460.50

$77.40 + plan premium


Money Saving Tip:
If a retiree's current income is lower than the most-recent tax return, they may be eligible to appeal a Medicare premium surcharge — but only if the income drop is the due to specific life-changing events such as death of a spouse, divorce, marriage or retirement. If that is the case, clients should immediately respond to the premium surcharge notice, known as an income-related monthly adjustment amount (IRMAA) letter they receive in the fall, and follow the instructions on how to appeal the surcharge.